News
Southern African DC officials meet in Angola
Measures aimed at fighting money laundering were due to be discussed at the Southern African Development Community's meeting in Angola. Central Bank governors will also approve a memorandum on the coordination of exchange control policies in the SADC…
Report says Irish gov't may switch to e-payments
A report commissioned by the Irish government recommends a move to e-payments which could save €200 million a year. However, according to the Sunday Times, the report highlighted a number of problems which must be overcome before the change can take…
Government supports Brazil cb autonomy
A vote in Brazil's parliament cleared the way for a move towards autonomy for the central bank after overwhelming support from legislators, according to a report in the Financial Times. The lower house of congress voted by 442 to 13 for a constitutional…
Russian forex reserves reach another record high
Russian central bank reserves rose to a new record high last week, according to the ITAR-TASS news agency, taking the total increase to nearly sixteen percent since January.
Polish euro entry may be hampered by reserves
Poland's finance minister said on Wednesday 2 April that if the central bank refuses to release the revaluation reserve it will entry to the euro difficult for Poland in 2007, according to the PAP news agency.
Russian inflation target on track - Ignatyev
Speaking at an economic conference Russia's central bank governor Sergei Ignatyev said inflation should be held under 12 per cent despite IMF suggestions that price rises may be difficult to control, according to the Moscow Times.
ECB Rome meeting: questions and answers
In the exceptional circumstances of the war Wim Duisenberg said it is not possible at this time to assess what effect conflict will have on the global economy. "The outlook for the basic elements of price stability remain in place and accordingly we…
ECB chief Duisenberg blasts 'high US deficits'
Speaking at a news conference after the ECB policy meeting on Thursday 3 April that left rates on hold, Reuters reports that Wim Duisenberg said "We now see - and that is a cause of concern - both the current account and the federal government deficit…
Riksbank's Irma Rosenberg attends EMU seminar
Sveriges Riksbank Deputy Governor Irma Rosenberg said at a seminar that it is important to safeguard long-term stability in EMU.
NYSE nominate New York Fed's McDonough to Board
William McDonough, president of the Federal Reserve Bank of New York, has been nominated to the Board of the New York Stock Exchange.
Former Argentine central bank chief Maccarone dies
Roque Maccarone, who was president of the central bank of Argentina from May 2001 to January 2002, has died at the age of 70, Associated Press reports.
Swiss National Bank reports fall in income
Swiss National Bank Financial Statements and Annual Report 2002. The SNB reported a fall in aggregate income during 2002; however this was partially offset from receipts of Sfr 1.53 billion from gold transactions and the revaluation of gold holdings.
Indonesian c bank director given three years' jail
Heru Supraptomo, a director with the Indonesian central bank, was jailed for three years on Thursday 3 April after he was found guilty of corruptly failing to properly monitor insolvent banks during the regional financial crisis, according to a report…
Bank of England told to hand over BCCI documents
A ruling in the appeal court means confidential documents held by the Bank of England relating to the BCCI collapse must be released, according to a report in the Financial Times. Liquidators for BCCI creditors allege that senior Bank of England staff…
Banks seek redress after clearing system seizes up
A damages row has erupted after a computer failure at the worlds largest forex clearing house left some banks facing heavy losses last month. CLS Bank, which operates the real-time payment system linking the central banks of the seven largest currencies,…
ECB's Duisenberg receives award in Italy
Decoration for Dr. Willem F. Duisenberg, President of the European Central Bank,2 April 2003. Duisenberg was presented with the "Knight of the Grand Cross of the Order of Merit of the Republic of Italy".
ECB meeting on monetary policy decisions
At Thursday 3 April's meeting, which was held in Rome, the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain…
Riksbank appoints new dep head of mon pol dept
Kerstin Hallsten has been appointed the new Deputy Head of the Monetary Policy Department of the Sveriges Riksbank, 3 April.
France backs Duisenberg to extend ECB term
The meeting of finance ministers and central bankers in Athens on Friday is likely to support moves to extend Wim Duisenberg's tenure as president of the European Central Bank, according to a report in the Financial Times. He may stay for up to six…
Meeting of AGCC cb governors in Qatar
The meeting of AGCC central bank governors in Qatar on Thursday 3 April was due to discuss issues concerning the common AGCC currency and the supervision of the banking system, according to a report in the Times of Oman.
Iraq's central bank unveils new banknote
The Iraqi central bank has issued a new banknote for 10000 dinar. The note contains various security features as well as the same portrait of President Saddam Hussein used on all other banknotes in Iraq, according to the LBMRC.
Volcker critical of corporate governance failures
Former Federal Reserve chairman Paul Volcker has said governments are partly responsible for the scandals involving corporations such as Enron and WorldCom and that public scepticism has reached worrying levels, reports the VOA News.
Vittorio Corbo new Chile cb board member
The president of Chile, Ricardo Lagos, has named Vittorio Corbo as a new board member of the central bank of Chile, Reuters reports. Corbo will take Carlos Massad's place on the Bank's board. Massad resigned as president of the central bank earlier this…
Iraq conflict 'likely to hit global growth'
In a regular report the World Bank said the Iraq conflict will probably have about the same effect on the global economy as the September 11 attack the Financial Times reports. The report also said the huge accumulation of reserve assets means the…