News
French to ease cash deposit laws
FRANCE - The French parliament looks set to adopt a law that eases the responsibility of banks for reporting large cash deposits during the introduction of euro notes and coins.
Reserve Bank of Malawi must have greater autonomy
MALAWI - Economists in the country have called on the government to leave the country's Central Bank, the Reserve Bank of Malawi (RBM) alone saying that creating the independence of the bank would benefit the whole nation.
CBR makes life easier for capital exporters
RUSSIA - On 5 July, the Central Bank of Russia established a new procedure for making direct investments in the economies of CIS countries.
Sharon backs Klein and an independent Central Bank
ISRAEL - Prime Minister Ariel Sharon has published a statement on 9 July expressing support for maintaining the independence of the Bank of Israel and for Governor David Klein, Ha'aretz reports.
Advisers join Thai monetary policy board
THAILAND - Aran Thammano and Chaiyawat Vibulsawat have been appointed as advisers to the Bank of Thailand's monetary policy board. They have been authorised to give suggestions and opinions to the board, which convenes on a monthly basis.
New York Fed names new appointments
NEW YORK - The Federal Reserve Bank of New York announced that its board of directors has approved the promotion of three officers to assistant vice presidents and named eight new officers at the bank.
Central Bank Governor - Mexico confident
MEXICO - Self-confident Mexico shrugs off the jitters - Central bank chief says sound fundamentals have helped Mexico avoid the pitfalls of an emerging market.
Sweden needs stabilising tool for euro entry-union
SWEDEN - Swedish membership of the euro is not desirable unless there is a tool to stabilise the economy which would compensate for the loss of national monetary policy, the country's biggest trade union group said on 10 July.
Nepal to let foreigners have majority bank stakes
NEPAL - Nepal announced on 10 July it would let foreign players hold majority stakes in joint venture banks as part of a drive to open up its banking sector to outsiders.
Brazil currency weaker as Argentina worries
BRAZIL - Brazil's currency weakened by about 1.7 percent by noon 10 July as concern over Argentina and its attempts to sell new debt undercut attempts by the Central Bank to prop up the embattled real.
Taiwan premier issues 5 point directive to c bank
TAIWAN - Taiwanese Premier Chang Chun-hsiung has issued a five-point directive to the Central Bank of China (CBC), urging it to help revitalise the sagging economy and speed up financial reform.
Singapore MAS shifts policy statement to 12 July
SINGAPORE - The Monetary Authority of Singapore (MAS) said it is postponing the release of its annual report and a widely anticipated monetary policy statement by a day to Thursday, 12 July.
Euro € - Portugal says it won't print large notes
PORTUGAL - Portugal's central bank has rejected printing the largest denomination euro notes because it believes people will shun them, a spokesman said on 9 July.
Pakistan to auction T-bills worth one bln rupees
PAKISTAN - Pakistan's central bank will auction one billion rupees ($15.62 million) worth of three-, six-and 12-month treasury bills from 10 July, the State Bank of Pakistan said. Tender results will be announced on 11 July.
Yoshikuni to be named special adviser to BIS
JAPAN - The Bank for International Settlements has decided to appoint Shinichi Yoshikuni, a former Bank of Japan official, as special adviser to the Basel-based institution, it was learned 9 July.
China regulates on-line banking
CHINA - The People's Bank of China (PBOC), China's central bank, on 9 July launched a provisional method for regulating on-line banking.
Bank of Israel displeased with monetary panel plan
ISRAEL - The Bank of Israel is "not very happy" about government plans to appoint a monetary council to set interest rates, which would end Governor David Klein's position as sole policy maker, a central bank source said.
Postal bank launch held up by control issue
CHINA - Expectations of the kick-off of the much-heralded Postal Savings Bank are premature, both the People's Bank of China (PBOC) and the State Postal Bureau reveal.
US recession risk rose in May - Chicago Fed index
US - The recession risk for the U.S. economy increased to its highest point this year in May, according to an index released by the Federal Reserve Bank of Chicago on 5 July.
Sluggish IT seriously affecting overall economy
SOUTH KOREA - A long-lasting slowdown in the nation's information and technology (IT) industry has been dealing a serious blow to the nation's exports, imports and current account balance as well as production in the manufacturing industry.
Beware of Dr. Green and Mr. Span
US - Some pretty smart people are warning about the danger of playing with interest rates, comparing the nation's central bankers to Dr. Jekyll and Mr. Hyde. Call these critics the Alan Greenspan bashers, writes the Economist magazine 5 July.
Bank of England leaves interest rates unchanged
UK - The Bank of England's Monetary Policy Committee (MPC) has left UK interest rates unchanged for the second month in a row. The committee concluded their two day meeting on 5 July. The Bank's base rate remains at 5.25%.
European interest rates held steady
EUROPE - The European Central Bank (ECB) has left eurozone interest rates unchanged for the second month in a row. Their main refinancing rate remains at 4.5%.
Regulator to study Brazil comparative rate system
CHILE - Chilean banking authorities will study the implementation of the Brazilian Central Bank's comparative interest rate system with a view to boosting transparency and competition in the loan market, Chile's chief banking regulator Enrique Marshall…