News
Bush pays tribute to US economist Milton Friedman
US - President Bush Thursday paid tribute to U.S. economist Milton Friedman. The Nobel-Prize-winner's free-market approach is central to the Bush administration's trade policy.
Ferguson - global economy robust on anti-terrorism
US - The global economy won't feel any impact from the increased cost of security and disaster-planning needed in the wake of the September 11 terrorist attacks, said Roger Ferguson, vice chairman of the Federal Reserve board.
Romanian gov't adopts money-laundering regulations
ROMANIA - The Romanian government approved the organization and functioning regulations of the National Office for Preventing and Combating Money-Laundering (ONPCSB), whose activity is structured on two operative directorates - a computerized directorate…
UK company among 3 bidders for Nigerian mint
UK - De La Rue PLC is among three foreign companies bidding for a controlling stake in Nigeria's state-run mint, the Nigerian Security Printing and Minting Co, officials said.
Brazil's Fraga says rates may be cut further
BRAZIL - Central bank chairman Arminio Fraga said he has indications that demand is falling and GDP growth is weakening in Brazil, which would justify new interest rate cuts.
UAE free of organised suspect cash activities
UAE - The UAE had detected minor money laundering operations but it is free of organised suspect cash activities as a result of direct surveillance by monetary authorities and cooperation by financial institutions, a judicial official said yesterday.
Dlamini-Zuma confirms launch of African Union
SOUTH AFRICA - The July launch in Durban of the African Union (AU) will go ahead despite contrary advice obtained from a panel of some of the continent's "eminent people", Foreign Affairs Minister Nkosazana Dlamini-Zuma said yesterday. The AU Act…
Greenspan urges banks to rely on risk management
US - Federal Reserve Chairman Alan Greenspan said Friday that commercial banks and banking regulators need to rely more on the emerging field of risk management to control loan defaults during periods of economic weakness.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 9 May.
UK interest rates kept on hold
UK - The Bank of England's monetary policy committee on Thursday voted to leave interest rates unchanged at 4 per cent, in a decision which underlined the fragility of the UK economic recovery.
Duisenberg 'stands in' for the euro at awards
GERMANY - An awards ceremony, whose previous winners include Tony Blair and Helmut Kohl, gave Wim Duisenberg a chance to prove he is not just a self-effacing, mop-haired central banker, said the FT on Thursday.
UAE central bank to sponsor global hawala meeting
UAE - The UAE Central Bank yesterday announced it is sponsoring an International Conference on Hawala to be held in Abu Dhabi on 15 and 16 May.
Central bankers testify in Russian loans trial
RUSSIA - Tatyana Paramonova, first deputy chairman of the Central Bank of Russia, and former Central Bank Chairman Viktor Gerashchenko had to appear in an unaccustomed role as witnesses at Moscow's Zamoskvoretskiy Court in a criminal case concerning…
Nigerian budget will hurt economy - Central bank
NIGERIA - The Central Bank of Nigeria (CBN) said Wednesday the country's 2002 budget would hurt the economy if it were implemented as it was passed by parliament.
Coin collectors feeling short-changed in Ireland
IRELAND - Coin collectors seeking Irish euro coins have run into difficulties obtaining the new currency from the Central Bank.
Poland's c bank under fire for strong zloty
POLAND - The central bank received more criticism yesterday when the Finance Minister Marek Belka said that it should take action to weaken the zloty.
Anthrax found on federal reserve mail
US - The Federal Reserve reported today that about 20 pieces of mail tested positive for traces of anthrax in an initial screening.
Statement by RBA Governor, Ian MacFarlane
MEDIA RELEASE - Statement from the Reserve Bank of Australia, 8 May.
Reserve Bank of New Zealand News Release
NEWS RELEASE - New support provider for Austraclear/ESAS, 8 May.
Federal Reserve Board Press Release
PRESS RELEASE - Monetary Policy Decisions, 7 May.
Australia's reserve bank raises interest rates
AUSTRALIA - Australia's central bank has raised interest rates for the first time in almost two years in a bid to curb inflation and protect its booming economy.
US rates left on hold - for now
US - The US Federal Reserve has left interest rates unchanged at their current 40-year low of 1.75%, citing 'uncertain' growth prospects in the coming months.
Public questions large bank notes in Taiwan
TAIWAN - With Taiwan set to issue its first-ever NT$2,000 bank note on 1 July, consumers gave the new currency the thumbs down yesterday reports the Taipei Times on Wednesday.
Poland's c bank boosts reserves by $165m in April
POLAND - The announcement made by the National Bank of Poland (NBP), that it will boost reserves by $165m, signifies that Poland's reserve assets on the last day of April accounted for $27,224bn and were $660m higher than on 31 December 2001.