News
ECB refinancing, 6 Mar
PRESS RELEASE - Monetary policy decisions. The minimum bid rate on the main refinancing operations will be reduced by 0.25 percentage point to 2.50%, starting from the operation to be settled on 12 March 2003.
ECB on foreign exchange market, 5 Mar
PRESS RELEASE - Publication of a review of the foreign exchange market structure, 5 March. Analysis of the structure of the foreign exchange market.
Trichet favours Bank of France re-organisation
A report says Jean-Claude Trichet favours a re-organisation of the Bank of France by departments, as opposed to regions.
Canada's gold reserves fell last month
Canada's finance department revealed on Wednesday that it had sold part of its gold holding, with the proceeds to be used for buying other foreign currency securities.
Kenya's ex-central bank chief hits back at critics
On Wednesday CentralBankNet reported the resignation, and prompt replacement, of Kenyan central bank chief Nahashon Nyagah over the Euro Bank affair. Now a report quotes Nyagah as denouncing what he called, the "orchestrated" campaign to oust him.
Russia's gold and for ex reserves continue to rise
Russia's central bank has announced increased reserves of 0.8% for gold and foreign exchange. This represents a new record.
Danes lower rates
PRESS RELEASE - Interest rate reduction, 6 March. The Danish central bank lowered its key interest rate 0.25% in response to the ECB's cut.
New Zealand holds rates
PRESS RELEASE - The Reserve Bank has decided to leave the Official Cash Rate at 5.75 per cent, 6 March.
Taiwan's forex reserve hits another record high
The Central Bank of China's monthly report showed an increase in foreign exchange reserves in February taking Taiwan's reserves to a record high.
Fed's beige book - growth 'subdued' in early 2003
The Federal Reserve Beige Book released Wednesday showed that growth remained subdued in January and February. The evidence contained in the report forms a major part of the Fed's decision making process on the interest rate setting FOMC.
China to again reform its econ planning ministries
A plan to reorganise China's key economic ministries calls for a new State Banking Regulatory Commission to be spun off from the central bank, according to agency reports.
Norges Bank Press Release, 5 Mar
PRESS RELEASE - Norges Bank has decided to reduce the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.50 percentage point with effect from 6 March. The interest rate on banks' overnight loans will also be reduced by 0.50…
Bank of Japan Press Release, 5 Mar
PRESS RELEASE - Decision from the Bank of Japan Monetary Policy Meeting, 5 March.
Kenya president appoints new central bank governor
President Kibaki of Kenya has officially received and accepted the resignation of Nahashon Nyagah as the governor of Central Bank of Kenya (CBK). Dr Andrew Mulei has been appointed as his replacement. The CBK confirmed to CentralBankNet that Dr Mulei's…
Serb central banker would refuse Hague testimony
Serbian central bank chief Mladjan Dinkic said Tuesday he would refuse an approach for him to give testimony in the Hague because, he said, "I do not know what the purpose of my appearance before that tribunal would be".
Norway central bank cuts interest rates
Norges Bank, the Norwegian central bank, lowered key interest rates Wednesday by a half-percentage point. The Bank hinted that further reductions may be necessary.
World Bank wants Venezuela to lift for ex controls
The World Bank has said Venezuela's currency controls are transitory and can only work temporarily.
Fed's Parry: Fed has room to ease again
San Francisco Fed president Robert Parry has said there may still be room to reduce interest rates, if it were called for, as the risk of sparking an inflation increase was low.
RBA leaves rates steady
The Reserve Bank of Australia left interest rates on hold Wednesday for the ninth month in a row.
Deutsche Bundesbank Press Release
PRESS RELEASE - Statement by Edgar Meister in response to media enquiries, 4 March. Meister says that the issue of bonds by HVB Bank to raise capital is not necessary as the Bundesbank views the bank's solvency as "assured" and there are no supervisory…
Press release on UK Financial Stability, 3 Mar
PRESS RELEASE - Bank of England, HM Treasury and FSA, IMF "UK Financial Stability Policy Framework is at the Forefront Internationally" 3 March.
Swedish gov't moves for trade union EMU support
In a bid to reduce opposition to the euro, a report says the Swedish government is preparing to set aside money to protect jobs, in exchange for trade union votes in the upcoming referendum.
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada raises overnight rate target by 1/4 percentage point to 3 per cent, 4 March.
Australia's Costello silent on RBA chief's future
With Ian Macfarlane's term ending in September, speculation has begun on whether the RBA chief will seek another term. Treasurer Peter Costello was tight lipped on the matter but said the governor had performed very well.