News
Poland: Central bank cuts interest rates
Poland's central bank cut interest rates on Thursday 24 April by 25 points. The bank has come under sustained pressure from the Polish government which has complained of a too restrictive monetary policy, according to a report from the PAP news agency.
RBNZ lowers interest rates 0.25% amid slowdown
The Reserve Bank of New Zealand reduced its OCR rate to 5.50 per cent on 24 April. Speaking after the decision Reserve Bank Governor Alan Bollard said "With the passage of time, we are now more confident that inflationary pressures will ease, which is…
HKMA's Euro Clearing System goes live
The Hong Kong Monetary Authority's new Euro Clearing System will process its first transaction on 28 April. The key functions of the Euro Clearing System will include an interbank Real Time Gross Settlement (RTGS) system.
Greenspan' reply to Bush re Fed appointment
Statement by Federal Reserve Chairman Alan Greenspan in response to the President's comments on his term in office, 23 April.
BoJ drawing up plan to bolster capital adequacy
The Bank of Japan is planning to ask the Finance Ministry if it can increase the level of its capital reserves to offset the adverse impact from a growing amount of stocks and other riskier assets, according to the Asahi Shimbun.
Blair to rule out early referendum on euro
A report in the Financial Times says a deal has been reached between the UK chancellor Gordon Brown and the prime minister Tony Blair on the issue of a referendum on the euro.
Russian cb calls for liberalisation of forex rules
Russia's central bank plans a gradual liberalisation of currency regulations, chairman Sergey Ignatiyev said on Tuesday 23 April, according to a report by the Iinterfax News Agency.
Serbia, Montenegrin cbs sign cooperation agreement
The central banks of Serbia and Montenegro have signed an agreement pledging cooperation on bank control, according to the Tanjung News Agency
Iraq central bank described as a 'burned out husk'
A short report from Associated Press included details of the current state of the Central Bank of Iraq. The report said all nine floors of the central bank have collapsed.
U.S. impressed with Brazil's anti-inflation stance
Brazil's central bank chief Henrique Meirelles met John Snow, the US treasury secretary, on Tuesday 22 April, according to Rreuters. Snow expressed support for Brazil's efforts at controlling inflation.
'Work longer' says Bank of Greece's Garganas
Governor Nikos Garganas of Greece's central bank said on Tuesday 22 April that his people must learn to work more and that the retirement age should be raised, according to Kathimerini.
Greenspan may try for a fifth term as Fed chief
Alan Greenspan, chairman of the US Federal Reserve, said on Wednesday 23 April that he would accept another term as Fed chairman if nominated by the White House, according to Bloomberg News. "The president and I have not discussed this but I greatly…
Bank of England MPC Minutes 9/10 April 03
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 23 April for the meeting of 9 and 10 April 2003. The minutes show that MPC members voted 7-2 in favour of maintaining interest rates at their current levels. Christopher…
Japan's PM says 1-2 % inflation good for economy
Junichiro Koizumi said at the weekend that rises of around one to two per cent annually would benefit the economy and price falls are not "desirable", Reuters reports.
EU central bankers may face EFC sidelining
A proposal has been made to exclude central bankers from some discussions of the influential Economic and Financial Committee (EFC), according to a report from Online. The proposal is designed to prevent the EFC from becoming unwieldy after 10 more…
Mexico to auction $32 m per day in reserves
The Bank of Mexico intends to sell part of its reserves each day for the next three months in a move designed to stem the growth of its international reserves, according to a report by Reuters.
Fed's Parry: Fed has room to cut rates if needed
San Francisco Fed president Robert Parry, a voting member of the FOMC, has said the Federal Reserve still has room to lower interest rates "if things weren't coming together in the economy", according to Dow Jones.
Greenspan's surgery successful, says US Fed
Federal Reserve chairman Alan Greenspan has undergone surgery. The Fed said on Tuesday April 22 that the operation was successful and he should be back in his office later this week, according to a Reuters report.
Bush in favour of another term for Greenspan
US president Bush has said he backs Alan Greenspan for reappointment as chairman of the Federal Reserve. Bush is quoted by the Financial Times as telling reporters "I think Alan Greenspan should get another term".
Bank of England minutes show 2 votes for rate cut
Minutes of the Bank of England's April meeting show two members of the MPC voted for interest rate cuts and the committee signalling next month's meeting could be crucial for the direction of interest rates, as members would have various new data…
RBZ staff boycott canteen over food quantity
Tensions are rising at the Reserve Bank of Zimbabwe after complaints about the food served in the staff canteen, according to All Africa News. Angry workers have called for the caters to be replaced after food portions were cut prompting the majority of…
Thailand's central bank keeps its key rates steady
The Bank of Thailand kept its main interest rate unchanged on Monday 21 April at 1.75%, acording to the Bangkok Post. An assistant governor of the central bank said the impact of the Sars virus on the economy remained uncertain.
Iran c bank chairman to be appointed on 27 April
Iran's finance minister will announce the name of the new governor of the central bank of Iran at a Sunday session of the cabinet meeting to be held 27 April, according to the IRNA news agency.
Turkey: cb governor briefs cabinet re Iraq
The governor of the central bank of Turkey has briefed the Council of Ministers on the economic situation and the impact on the Turkish economy of the recent conflict in Iraq, according to a report on TRT 2 TV in Turkey, Reduced uncertainly, he said,…