News
China beats USA as Korea's largest export market
SOUTH KOREA - China has surpassed the United States in terms of its share of South Korea's export market in the first nine months of this year, the Bank of Korea said Wednesday.
Greenspan: Economy has hit 'soft patch'
US - Federal Reserve Chairman Alan Greenspan said on Wednesday the U.S. economy was weighed down by worry over possible war and falling stock prices but not by dangerous imbalances that tended to herald recession.
EU disciplines Germany over deficit, warns France
BELGIUM - The European Commission publicly censured Germany and France over their budgets on Wednesday, saying Berlin would exceed EU deficit limits this year and Paris risked following suit next year.
Mboweni takes inflation plan to the people
SOUTH AFRICA - South African Reserve Bank (SARB) Governor Tito Mboweni took the central bank's views on inflation to the public on Wednesday, stressing the bank would not try to meet its targets "at all costs".
New mandates for management of equity portfolios
PRESS RELEASE - Norges Bank Investment Management is today announcing new external active mandates for the Government Petroleum Fund. The new mandates are within the consumer staples, consumer cyclicals, media and services sectors, 12 November.
War cloud hangs over global economy recovery in 03
MEXICO - The global economy is set for recovery next year, once uncertainties surrounding the possibility of a war on Iraq are resolved, the head of the Bank of International Settlements said on Monday.
French urge Britain to speed entry to the euro
FRANCE - The French government has made a private plea to senior British MPs to speed British entry to the euro, promising flexibility in negotiations on the terms of British entry.
ECB sticks to rates decision
SWITZERLAND - European Central Bank board member Eugenio Domingo Solans stressed the ECB's independence Monday and said it will not be pressured into cutting rates by political leaders in euro zone member states.
Taiwan's central bank cuts key rate to record low
TAIWAN - The Central Bank of China (CBC) announced Monday a further cut in its key interest rates by a quarter percentage point with the aim of defusing the threat of falling prices and maintaining export competitiveness.
Nigerian banks need code of operations, CBN chief
NIGERIA - Worried about recent experience in the global financial sector where corporate scandals have become the order of the day, governor of the Central Bank, Chief Joseph Sanusi, has asked banks to draw up a national code guiding operations of…
CBR's 5 priorities in modernising banking system
RUSSIA - The Central Bank of Russia has determined five priorities that it will follow in modernizing the banking system, Andrei Kozlov, the bank's first deputy chairman, said at a round-table meeting on banking reforms Monday.
MP says Malta central bankers comments 'offensive'
MALTA - Malta's Labour Party has slammed Central Bank governor Michael C Bonello after he claimed that Malta would benefit economically from European Union membership.
Yugoslavia trying 'to impose' dinar on Montenegro
YUGOSLAVIA - Ljubisa Krgovic, the chairman of the Montenegrin Central Bank Council, said Monday that the dinar cannot be the only means of payment between Serbia and Montenegro.
Ukraine premier wants National Bank chief removed
UKRAINE - Ukrainian Prime Minister Anatoliy Kinakh has asked President Leonid Kuchma to dismiss the chairman of the National Bank, Volodymyr Stelmakh for poor cooperation between the National Bank and the government, the official web site of the Cabinet…
ECB Press Release
PRESS RELEASE - Announcement of a conference on "Prices, Productivity and Growth" organised by the European Central Bank, the Banco de Espaa and the Centre for Economic Policy Research, 8 November 2002.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 7 November released the minutes of its FOMC meeting of 24 September. Gramlich and McTeer dissented from the vote to hold rates constant, preferring to ease monetary policy at this meeting. The Committee believed that the…
BIS Press Release
PRESS RELEASE - BIS opens Representative Office for the Americas, 11 November 2002.
Inter-American Development Bank Press Release
PRESS RELEASE - IDB Board of Governors re-elects Enrique Iglesias to lead institution, 8 November.
Bank of England is model for 'new' ECB
FRANCE - The path towards Britain's possible entry into the euro will be made much easier by a radical French plan for the European Central Bank to be reformed in the image of the Bank of England.
Departing SEC chairman wins a standing ovation
US - Harvey Pitt delivered his valedictory speech to the securities industry Friday, with a defence of his record as chairman of the Securities and Exchange Commission and a sideswipe at the partisanship that, he implied, had made the job impossible.
Total of bad loans understated by Y13,000bn - FSA
JAPAN - Japan's Financial Services Agency has revealed for the first time that it believes bad loans at the country's banks are Y13,000bn (£68bn) greater than the banks say.
Tax harmony is on EU agenda, says Giscard
FRANCE - Valery Giscard d'Estaing expects tax harmonisation to appear in the draft constitution being drawn up by the convention on the future of Europe.
Central bank head-China can be 'well off society'
CHINA - Dai Xianglong, governor of the People's Bank of China, the central bank, said on Sunday that China is capable of financing the building of a well-off society in an all-round way.
Central bank chief-no money laundering in Armenia
ARMENIA - "We can state that Armenia is not involved in money laundering," the chairman of the Armenian Central Bank, Tigran Sarkisyan, said at a round table discussion on Friday.