News
Pakistan State Bank directs banks to set up ATM's
PAKISTAN - State Bank of Pakistan has directed all the domestic banks either to establish at least two auto-cash telling machine (ATMs) or join the existing Switch Network to ensure payment of salaries to government employees through ATM system.
Reports Krueger unhappy with Argentina plan untrue
US - The International Monetary Fund said on Monday a report in a Brazilian newspaper saying a top IMF official is unhappy with economic plans Argentina sent to the fund on Friday is "absolutely" untrue reports Reuters.
Belarusia gets currency union proposal from Russia
BELARUSIAN - The National Bank of Belarus has received proposals from the Russian government and the Central Bank of Russia for an accelerated introduction of the Russian rouble as the single currency of the Belarusian-Russian union state, the National…
Federal Reserve Board Press Release
PRESS RELEASE - Governor Gramlich to begin treatment for leukemia, 16 August.
Minneapolis Fed Conferences and Events
CONFERENCES - The 17th Annual Electronic Payments Conference: "The e-Payments Revolution" will be held 17-18 September, 2002, at the Minneapolis Airport Marriott, Bloomington, Minn.
Fed's Gramlich starts treatment for cancer
US - Federal Reserve Governor Edward Gramlich will begin out-patient treatment for a form of leukemia next week and medical experts believe his prognosis is good, the Federal Reserve said on Friday in a press release.
Asia central banks could be gold buyers
SINGAPORE - Asia's reserve-rich central banks are potential buyers of gold to diversify their reserve assets, even as European central banks cut their holdings, a senior official of the World Gold Council said on Monday.
Fears over delay to naming Clementi successor
UK - The UK government may delay the announcement of a new deputy governor at the Bank of England.
South African fake central bank web site shut down
SOUTH AFRICA - A Nigerian syndicate has set up an elaborate fake South African Reserve Bank web site to pull off a so-called "419" advance-fee scam in which victims are promised millions in return for their assistance in moving vast amounts of money out…
Kazakhstan's foreign currency, gold reserves up
KAZAKHSTAN - Kazakhstan's foreign currency and gold reserves, including the National Fund's finances and the National Bank's gross foreign currency and gold reserves, have gone up by 1 per cent since the beginning of August, amounting to 4.58bn dollars.
Hong Kong's credit card problems surge
HONG KONG - Credit card write-offs in Hong Kong surged to a record annualised rate of 13.63 per cent in the second quarter of this year, reflecting the slowdown in the local economy and a rise in personal bankruptcies.
Hungary president blocks probe on secret services
HUNGARY - Hungary's state president and the head of the central bank have become embroiled in growing controversy over Communist-era links with the secret services.
Iran's c bank governor says economic growth steady
IRAN - The governor of the Central Bank of Iran has said the country's economy enjoys a steady growth and that the positive trend will continue.
Russia plans jewellery sale to pay debts
RUSSIA - Some of Russia's most valuable jewellery is to be sold as part of the country's desperate search for funds to repay its debts.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on Thursday released the minutes of its regular FOMC meeting held on 25-26 June. Federal Reserve policymakers expressed optimism about the economy's recovery two months ago despite the business scandals that have eroded…
Sveriges Riksbank Press Release
PRESS RELEASE - Repo rate left unchanged at 4.25 per cent, 16 August.
Sveriges Riksbank Press Release
PRESS RELEASE - Preliminary financial market statistics for May and June 2002, 15 August.
FSA open secret anti-terrorist bunker in London
UK - The UK financial watchdog has opened an emergency headquarters to keep the financial heart of the capital beating in case of a major terrorist attack on London.
Brazil's central bank to reduce domestic debt
BRAZIL - The focus in Brazil's financial troubles shifted on Thursday to domestic reaction to the government's measures to boost prices of domestic debt and reduce volatility in the price of mutual funds.
Korean terms of trade deteriorate in 2nd Quarter
KOREA - The nation's terms of trade deteriorated in the second quarter of the year, due to global hikes in the price of oil the Bank of Korea reports.
Dollar falls for fourth day in five versus euro
US - The U.S. dollar fell for a fourth day in five against the euro after a Federal Reserve report showed Philadelphia-area manufacturing unexpectedly contracted this month, the latest sign the U.S. economic recovery is slowing.
Court upholds ruling on Argentine deposit freeze
ARGENTINA - An Argentine federal appeals court has upheld a prior ruling that declared unconstitutional the deposit freeze in place since December last year, along with all subsequent measures based upon it, local press reported.
Some Fed members saw policy as too easy in June
US - In late June, some members of the Federal Reserve's interest-rate panel thought monetary policy was too easy for the central bank's long-term inflation-fighting and growth goals FOMC minutes show.
Fed revises estimate on number and value of checks
US - Newly released numbers from the Federal Reserve System suggest that US check usage may have peaked in the 1990's and if so, that check writing in the U.S. may be steadily giving way to electronic forms of payment.