News
ECB Press Release
PRESS RELEASE - Publication of the European Court of Auditors' report on the efficiency of the ECB's management for the financial year 2001 and the ECB's reply, 30 October 2002.
Basel Committee QIS 3 Frequently Asked Questions
REPORT - Supervisors and banks have raised the following issues since the distribution of the Basel Committee's Quantitative Impact Study 3 (QIS 3), 30 October.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 17 and 18 September 2002, released 5 November. The Policy Board noted Japan's economy has almost stabilised as a whole thanks to an export increase and the associated expansion of…
Kuwait market ready for more funds - central bank
KUWAIT - The Governor of Central Bank of Kuwait Sheikh Salem Abdulaziz Al-Sabah has said that the Kuwaiti market is developing considerably especially in the investment funds sector in the past two years.
Bank of Canada won't tip its hand
CANADA - A deputy governor of the Bank of Canada answered its critics on Monday, telling a blue-chip crowd that it's not the central bank's job to fine-tune the markets' expectations about future interest rate moves.
Tokyo shares surge as Asia awaits Fed
JAPAN - Japanese shares jumped nearly three percent Tuesday, while most other Asian stock markets paused to pocket profits, as investors looked forward to an expected cut in U.S. interest rates.
IFSB appoints Rifaat as first secretary-general
MALAYSIA - The newly established Islamic Financial Services Board (IFSB) has appointed Prof Rifaat Ahmed Abdel Karim as its first secretary-general for a three-year term.
Panel to discuss central bank of Israel's wages
ISRAEL - Knesset State Control Committee Chairman MK Ran Cohen (Meretz) has called an extraordinary session for next week to discuss the Bank of Israel's wage policy.
Latvia: New Era party announces coalition deal
LATVIA - Latvia's election-leading New Era party, headed by former central bank chief Einars Repse, said Monday that it has negotiated a four-party center-right coalition deal to lead the country into the European Union and implement Western-style…
Brazil's Fraga urges Lula reforms to help debt
BRAZIL - Brazil's Central Bank President Arminio Fraga on Monday urged President-elect Luiz Inacio Lula da Silva to press ahead with reforms that would assuage investors and cut the cost of servicing Brazil's $260 billion mountain of debt.
IMF upbeat on Ukrainian monetary policy
UKRAINE - The International Monetary Fund has approved the monetary policy of the National Bank of Ukraine because it enabled Ukraine to maintain stable prices and keep the low inflation rate, the head of the IMF mission in Ukraine, Emanuel van der…
Indian banks to take up forward trading in gold
INDIA - In what is seen as a possible first step in opening up the Indian bullion market, all scheduled commercial banks authorised to deal in gold have been permitted to enter into forward contracts with their constituents (exporters of gold products,…
Bank of England News Release
NEWS RELEASE - Bank Agency to be based in Exeter, 29 October.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 16 October, published 30 October. Although the Executive Board voted to maintain the repo rate at 4.25 per cent the minutes reveal Deputy Governor Kristina Persson entered a…
China to promote small loans to rural households
CHINA - A spokesman for the People's Bank of China (PBOC) said Monday that the central bank will adopt more effective measures to guide and promote rural credit cooperatives to grant small credit loans to rural households.
Korea's foreign ex reserves over $116 billion
KOREA - The Bank of Korea said Saturday the nation's foreign exchange reserves as of the end of October amounted to $116.9 billion, up $305 million from the end of the preceding month.
Mexico holds firm on inflation targets
MEXICO - Mexico's Central Bank president held firm on the country's inflation targets for this year and next, even as expectations of higher inflation and diminished growth mount.
World Gold Council welcomes Shanghai gold trading
CHINA - The World Gold Council has welcomed the successful launch this week of trading in physical gold on the new Shanghai Gold Exchange. Trading started on Wednesday, October 30, and in the three days since more than 790 kilos of gold bullion has…
Monetary Council of ECCB meets in Anguilla
ST KITTS - Member countries of the Eastern Caribbean Central Bank (ECCB) have recommitted themselves to maintaining the value of the exchange rate at 2.70 EC Eastern Caribbean dollars to the United States dollar.
Swedes could reject euro, says union body
SWEDEN - The head of Sweden's powerful blue collar labour organisation has warned that Swedes could reject membership of the euro unless the government takes special measures to protect the country's cherished welfare model.
Customs union a step towards GCC integration
OMAN - The GCC monetary union is a stepping-stone for "higher order of integration among member states," said Hamoud Sangour Al Zadjali, Central Bank of Oman executive president.
UAE c bank begins registering hawala operators
UAE - In a first step towards regulation of hawala, the UAE Central Bank has embarked on a registration and reporting system for hawaladars or brokers.
Argentina: World Bank extends loan deadline
ARGENTINA - World Bank President James Wolfensohn said the due date for a debt payment to the World Bank has been pushed back to 14 Nov from 9 Nov, Argentine Economy Minister Roberto Lavagna said in a Sunday newspaper interview.
Bank of Greece set to improve transparency
GREECE - The Bank of Greece on Friday indicated that restrictions on consumer and personal loans could be lifted next year on condition that the current slowdown in credit growth continues at the same pace and a forthcoming study can prove that Greek…