News
Air Miles 'threaten dollar's dominance' - Report
US - Air Miles currently in circulation are said to be worth $500 billion - making them the second biggest "currency" after the dollar.
Financial literacy programs making grade?
US - If financial literacy programs are to succeed, more research is needed on their success rate, Federal Reserve Governor Edward M. Gramlich said Thursday.
Prodi calls for 'one sole political voice' on euro
BELGIUM - European Commission president Romano Prodi said he is "convinced" that there should be moves to ensure one sole political voice speaks on behalf of the euro.
Duisenberg - ECB wants supervision structure role
GERMANY - European Central Bank president Wim Duisenberg said the ECB wants to play a key role in any move to increase cooperation between central banks and other financial sector supervisory authorities in the euro zone. He also spoke on Le Pen's threat…
Islamic financial services board to be based in KL
MALAYSIA - Malaysia will host the Islamic Financial Services Board (IFSB), which is tasked with setting international prudential standards for Islamic financial instruments, and Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz has been appointed…
There are no risk-free returns says RBI's Jalan
INDIA - It's never easy being the governor of a central bank, but for Bimal Jalan, the 61-year-old governor of RBI, the challenges just keep multiplying, reports The Times of India on Friday.
ECB Press Release
PRESS RELEASE - Monetary Policy Decisions, 2 May.
New governor appointed at Central Bank of Cyprus
CYPRUS - Cyprus has appointed Interior Minister Christodoulos Christodoulou as the new governor of its central bank. He replaces Afxentis Afxentiou who retired on 30 April.
South Africa Reserve Bank Press Release
PRESS RELEASE - Governor appointed as Professor Extraordinary to the Department of Economics at Stellenbosch University.
Banks gets electronic clearing system
UGANDA - The Uganda Banker's Association (UBA) and Bank of Uganda have introduced an electronic cheque clearing system, to replace the manual system, a statement from the bankers has said.
Malaysian central bank's reserves at US$32.5 bn
MALAYSIA - Bank Negara Malaysia (BNM) said its international reserves stood at RM123.5 billion (US$32.5 billion) as at April 15 2002, which is sufficient to finance 5.5 months of retained imports.
Eurozone interest rates left unchanged
EUROPE - Interest rates in the 12-nation eurozone have been kept on hold as expected at a regular ECB meeting held Thursday.
St Louis Fed official on guard for inflation
US - St. Louis Federal Reserve President William Poole on Thursday warned that policymakers must be on guard and said low and stable inflation was key to keeping the current U.S. economic expansion strong and long-lasting.
Dollar slides after O'Neill testimony
US - Pessimism about the strength of the US recovery sent the dollar to its weakest level for six months against the euro and for two months against the yen on Thursday.
Turkish c bank says it meets IMF monetary targets
TURKEY - Turkey's Central Bank said on Wednesday it had met monetary targets for March and April agreed under a $16 billion IMF lending package tasked with slashing inflation and raising growth.
Flag protest
NETHERLANDS - The wife of the President of the European Central Bank hung a Palestinian flag from a second-floor balcony of their home here in protest against Israel's actions in the West Bank. Wim Duisenberg refused to comment on the stance taken by…
Leading credit ratings agencies under fire
JAPAN - Japan's Ministry of Finance has taken aim at the world's leading credit ratings agencies - Moody's, Standard & Poor's and Fitch - in a strongly worded letter that accuses them of lacking objectivity and calls into question the reliability of…
ECB Press Conference
PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Frankfurt am Main, 2 May.
Bank of Japan Press Release
PRESS RELEASE - Monetary Policy Meeting, 30 April.
Frenkel accused of claiming funds not due him
ISRAEL - Israel's state audit office said on Monday former Bank of Israel Governor Jacob Frenkel, who stepped down in 2000 after nine years in office, had claimed thousands of dollars not due to him. A spokesman for Frenkel in Tel Aviv dismissed all the…
Brash walks into storm over interest rates
NEW ZEALAND - It did not take the New Zealand opposition's latest recruit - former New Zealand Reserve Bank governor Don Brash - long to learn that the rough and tumble of politics is a different world from the rarefied atmosphere of monetary policy…
Transcript of interview with Ernst Welteke
FEATURE - The FT spoke to Ernst Welteke, president of the Deutsche Bundesbank, on his visit to London on Monday 28 April. The interview was published on Wednesday and here we reproduce it in its entirety. He was sceptical about plans to publish the…
Mexico shows signs of end to recession
MEXICO - The Bank of Mexico on Tuesday raised its forecast for the country's gross domestic product growth this year to 1.8 per cent from 1.5 per cent, apparently confirming predictions that the economy is starting to follow the US out of recession.
Bahamas victor will face depressed economy
BAHAMAS - One outcome of tomorrow's general election in the Bahamas, an important offshore financial services centre, is certain: the Atlantic archipelago will have a new prime minister, and he will be faced with a period of economic uncertainty.