News
Bank of Japan acts to halt yen rise
JAPAN - The Bank of Japan was ordered by the Ministry of Finance to intervene to weaken the yen for the second consecutive day yesterday as part of the government's drive to ensure that the country's fledgling economic recovery is given a chance to get…
NZ posts ads for inflation-busting central banker
NEW ZEALAND - Wanted: Central bank governor for buzzing South Pacific economy - previous inflation-taming experience an advantage.
Ignatyev: Enough reserves to defend ruble
RUSSIA - The Central Bank warned the market Thursday that it would not hesitate to dip into its growing pile of dollars to prevent any serious fall in the ruble and keep prices in check.
Germany's recession at an end
GERMANY - Economic growth has returned to Europe's biggest economy, Germany after six months of recession.
Fed's Moskow - lower trade barriers boost growth
US - U.S. policies that reduce barriers to trade will expand employment over the long term, boost incomes and add to economic growth, said Michael Moskow, president of the Federal Reserve Bank of Chicago on Thursday.
Fed's McTeer - US GDP growth slower in Q2 than Q1
US - Dallas Federal Reserve President Robert McTeer said on Thursday he expects U.S. gross domestic product to grow more slowly in the current quarter than in the first three months of the year.
Norges Bank keeps interest rates unchanged
NORWAY - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 22 May. Norges Bank's key interest rate, the sight deposit rate, remains at 6.5%.
Wellink confident about global economy
NETHERLANDS - Dutch central bank president Nout Wellink believes the global economy is ripe for a recovery after a slowdown last year, although Japan's economy and the US current account deficit pose downside risks.
Rupee hits new low on war fears
INDIA - The rupee hit a new closing low against the dollar as war fears persisted and the Indian and Pakistani armies continued to trade fire across the border. The central bank did not intervene on Thursday.
BoJ may intervene again as yen continues to rise
JAPAN - The yen drifted higher in Asian trading Thursday, one day after the Bank of Japan intervened in the currency markets to stem the yen's surge. The central bank warns that it may step into the markets again to keep the yen from gaining too much…
S Korea economy strong but no rate rise says BoK
SOUTH KOREA - South Korea's economy roared ahead in the first quarter on soaring consumer demand, helping send its currency to 15-month highs, but Bank of Korea governor Park Seung ruled out any immediate policy moves to cool one of Asia's hottest…
Malaysia's cb governor says growth will continue
MALAYSIA - After two consecutive quarters of negative growth, the Malaysian economy turned around to record a healthy 1.1% growth in the first quarter of this year. Growth was driven by the strong consumption and improved external demand, said Bank…
Weak kwacha forces Zambian cb to trade in dollars
ZAMBIA - Zambians have begun trading in US dollars because of the instability of the kwacha, the local currency that has recently plunged against major currencies, the new central bank governor Caleb Fundanga said on Wednesday.
Press Release from Sweden's central bank
PRESS RELEASE - Governor Urban Backstrom resigns at year-end, 21 May.
Press Release from Sweden's central bank
PRESS RELEASE - Sven Hulterstrom comments on Urban Backstrom's decision, 21 May.
ECB Press Release
PRESS RELEASE - ECB Convergence Report 2002, released 22 May.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes from the Bank of England's MPC meeting 8 and 9 May, released 22 May.
Dutch bank warns budget controls needed
NETHERLANDS - The next Dutch government will have to impose budget curbs to keep state finances in surplus, the central bank warned on Wednesday.
Latent recovery fails to move Bank of Japan
JAPAN - The Bank of Japan announced a decision to leave monetary policy unchanged after a two-day Policy Board meeting which ended on Tuesday.
Swedish central bank governor resigns
SWEDEN - Sweden's central bank governor said Tuesday he will resign at the end of the year, two years before his term expires, as the Scandinavian country considers adopting Europe's common currency.
Argentina taking steps for IMF accord - President
ARGENTINA - An accord between the Argentine government and its provinces will be signed within the next 10 days paving the way for an agreement with the International Monetary Fund, Argentine President Eduardo Duhalde said in an interview published on…
Egypt's banks forced to achieve world standards
EGYPT - Governor of the Central Bank of Egypt (CBE) Mahmoud Abul Oyoun announced yesterday that the government is studying new measures to encourage bank mergers to keep pace with world changes in this regard.
German economy grows slightly
GERMANY - Germany's economy grew slightly in the first quarter of 2002, pulling the country out of a mild recession, the country's central bank said Tuesday.
Bank of England hints at future rate rise
UK - May's decision by the Bank of England's Monetary Policy Committee (MPC) to leave interest rates unchanged at 4% was unanimous for the third month in a row, the latest minutes of the MPC's meeting have shown.