News
IMF News Brief
NEWS BRIEF - Statement by Kenneth Rogoff on the Death of Rudiger Dornbusch, 26 July.
Fed's Olson - US in recovery but it will be slow
US - The United States is clearly in a recovery but the rebound from last year's brief recession is likely to be slow, Federal Reserve governor Mark Olson said on Friday.
SEC chairman Pitt asks for promotion
US - U.S. Securities and Exchange Commission chairman Harvey Pitt, again exhibiting a flair for the political miscue, was under attack 24 July, reports Reuters, for seeking a promotion and a pay raise.
New governor chosen for Uruguay's central bank
URUGUAY - Ruling coalition Senator Alejandro Atchugarry has assumed the post of economy minister and economist Julio De Brun has been chosen to head the central bank. The former economy minister and central bank president resigned citing lack of…
President Mugabe hits out at devaluation advocates
ZIMBABWE - President Robert Mugabe publicly hit out at his Finance Minister Simba Makoni last week, branding him an economic saboteur. He also contradicted Reserve Bank of Zimbabwe governor Leonard Tsumba as cracks within the government widened.
Cyprus c bank refutes alleged money laundering
CYPRUS - The Central Bank of Cyprus has refuted allegations in a Financial Times report, published on 25 July, that knowingly it was involved in sanctions busting and money laundering during the years when UN sanctions against Yugoslavia were in force.
Trichet trial set for January 2003 start
FRANCE - The court case concerning the French banking group Credit Lyonnais, which involves Jean-Claude Trichet, the governor of the Bank of France, will start in January 2003.
Brash elected to New Zealand's parliament
FEATURE - It may have been thrashed by Labour in this weekend's general election but at least New Zealand's National party will have one new face on its benches when parliament resumes. Step forward Don Brash, the former central bank governor.
Senate panel sets hearing on Fed nominees
US - The Senate Banking Committee will hold a hearing on Tuesday on the nominations of Ben Bernanke and Donald Kohn to serve on the Federal Reserve Board, the panel said on Friday.
Top central bankers agree to hold regular talks
SOUTH KOREA - The central bank governors of South Korea, China and Japan have agreed to have regular talks at all future international gatherings, said Bank of Korea (BOK) Governor Park Seung on Monday.
Luck not Greenspan calmed business cycles - study
US - Many have praised the brilliance of Alan Greenspan and his predecessor at the Federal Reserve helm for blunting the most savage swings of the U.S. business cycle. But there's a good chance most of what tamed the booms and tempered the busts was…
Many hurdles before one African currency - Mboweni
SOUTH AFRICA - Many hurdles would have to be overcome before the newly-formed African Union (AU) could form a single currency for the continent, South African Reserve Bank Governor Tito Mboweni said on Thursday.
Dutch auction won't depreciate Naira, says CBN
NIGERIA - The Central Bank of Nigeria (CBN) has said that contrary to speculation, the newly introduced Dutch Auction System (DAS) in the nation's foreign exchange market would not lead to the depreciation of the naira.
Euro-zone current account moves to surplus in May
GERMANY - The current account for the 12-nation euro zone showed a surplus of 100 million euros (dollars) in May compared with a deficit of 2.2 billion euros in May 2001, the European Central Bank reported Friday.
Cullen calls for RBNZ to copy Australia's c bank
NEW ZEALAND - Finance Minister Michael Cullen has called for New Zealand's central bank to model itself on the Reserve Bank of Australia, which pursues a 2-3% inflation target.
Structural problems must be confronted says Rubin
SINGAPORE - Two of the world's major economies, Japan and the European Union (EU), need vital structural reforms if they are to achieve sustainable growth, former US treasury secretary Robert Rubin said on Thursday.
IMF-experts: Argentina crisis bottoming out
ARGENTINA - The four monetary experts chosen by the IMF believe Argentina may have touched bottom after four years of recession and see potential for an export-led recovery, an official briefed on the talks said on Thursday.
Czech interest rates cut to stem rise of currency
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates to lower than in the eurozone, in an attempt to halt the headlong appreciation of the country's currency.
Russian court overturns acquittal of ex-c banker
RUSSIA - A Moscow court has overruled the acquittal of a Central Bank official charged with abuse of office for giving a loan to a troubled bank and ordered a retrial, news reports said.
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada Releases Monetary Policy Report Update, 24 July.
Australian Treasury Press Release
PRESS RELEASE - Re-appointment of Mr Hugh Morgan to the Board of the Reserve Bank of Australia, 24 July.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 4 July 2002, released 25 July. The Board noted that the June Inflation Report's main scenario, with a gradual recovery, still holds but there are now signs that activity may not…
IMF News Brief
NEWS BRIEF - IMF Managing Director Horst Kohler Congratulates Yusuke Horiguchi on Appointment as First Deputy Managing Director of the Institute of International Finance, 23 July.
Lower inflation in Australia
AUSTRALIA - Australia's second-quarter inflation figure has come in slightly lower than expected at 0.7 per cent, reducing the chances of another increase in interest rates next month.