News
Malaysia cbank defends peg, explains reserves drop
MALAYSIA - The Malaysian central bank issued a statement on Apr 9, 2001 in defence of its ringgit/dollar fixed exchange rate after posting a six percent drop in its international reserves in Mar 2001.
CNB appoints new executive director for markets
CZECH REPUBLIC - The Czech National Bank has announced that Tomas Kvapil will be the new executive director for financial markets as of Apr 1, 2001, filling the post which was left vacant when Radek Urban left at the end of February.
SARB-payment system risk reductions measures
SOUTH AFRICA - The South African Reserve Bank announced on Apr 5, 2001, that it has embarked on a phased implementation of certain risk reduction measures in the national payment system.
SNB chief economist George Rich retires Nov 01
SWITZERLAND - Georg Rich, chief economist of the Swiss National Bank, has announced that he will take early retirement as of the end of November 2001.
Downside risks to Swedish GDP-Riksbank minutes
SWEDEN - The balance of risks for Swedish growth and inflation are both skewed towards the downside over the next two years, according to the minutes of the Riksbank's last interest rate meeting released on Apr 9.
New Turkish cbank law submitted to cabinet
TURKEY - A draft law that grants full independence to the Central Bank of Turkey, and brings E.U. standards to the bank, has been submitted to the cabinet, reports the the Turkish daily Milliyet.
Swazi banking system undergoes modernisation
SWAZILAND - Along with other countries of the Southern Africa Development Community, Swaziland is revamping its banking system up to international standards, Bank of Swaziland Governor Martin Dlamini said on Apr 6, 2001.
PBOC vows to promote e-banking
CHINA - A senior official of China's central bank said on Apr 7, 2001 that the central bank is adopting active measures to support the development electronic banking.
Ecuador appoints Davila as top bank supervisor
ECUADOR - Ecuador's Congress ended a nearly five-month search for a banking superintendent on Apr 5, appointing former central bank head Miguel Davila to the post after rejecting several other candidates.
Business economist Barker appointed to BoE's MPC
UNITED KINGDOM - The UK Treasury said on Apr 5 that the chief economist at the Confederation of British Industry, Kate Barker, will replace DeAnne Julius on the Bank of England's Monetary Policy Committee from Jun 1, 2001.
Japan MOF's Kuroda -will act if FX trends continue
JAPAN - Top financial diplomat Haruhiko Kuroda said on Apr 6 that Japan would take action in currency markets if current trends continued.
Slovakia approves central bank law amendment
SLOVAKIA - The Slovak parliament said on Apr 6 it had approved an amendment to the law on the central bank, aimed at harmonising the act with the European Union legislation.
Former deputy head of central bank released
UKRAINE - According to Ukrainian TV, a former deputy head of the National Bank of Ukraine, Volodymyr Bondar, was released from arrest.
Argentina to place $3.5 bln in new bonds-Cavallo
ARGENTINA - Argentine Economy Minister Domingo Cavallo announced on Apr 6 that the country was planning to place $3.5 billion in new bonds that will allow it to meet its financing needs for the year.
Taiwan's cbank sees no inflationary pressures
TAIWAN - There are no inflationary pressures, Taiwan's central bank said late on Apr 6, citing sliding oil prices and Taiwan eventual entry into the World Trade Organization as reasons for domestic prices to remain tame.
BiH payment systems working well-cbank governor
BOSNIA AND HERZEGOVINA - The new payments system in Bosnia and Herzegovina, which has been in effect for three months, is working well, said Bosnia's central bank governor Peter Nicholl on Apr 5.
Bank Indonesia to pay govt 2 trillion rupiahs
INDONESIA - The Indonesian government said it intended to collect around Rp2 trillion in taxes from central Bank Indonesia in the near future to help plug the expected deficit in the 2001 state budget resulting from the rupiah depreciation.
Argentina's Cavallo criticizes central bank-media
ARGENTINA - Argentine Economy Minister Domingo Cavallo criticized the central bank on Apr 5 for keeping too tight a lid on bank deposits, arguing the lack of liquidity was partly responsible for high interest rates.
BOK appoints two new assistant governors
SOUTH KOREA - Choi Chang-ho, 54, director of the monetary policy department of the Bank of Korea, and Lee Jae-wook, 55, director of the international department, were promoted on Apr 4 to assistant governors of the central bank.
Alice Frisaufova is new spokesperson at CNB
CZECH REPUBLIC - The Czech National Bank board at its session on Apr 5 approved the appointment of Alice Frisaufova, communication manager and spokeswoman for Ahold, as a new spokeswoman for CNB and head of the bank's PR department.
FSA hosts major Basel conference-Apr 10-11
UNITED KINGDOM - The UK's Financial Services Authority is organising a two day conference in London on April 10-11 which will be a key milestone in the UK consultation on the revised Basel Capital Accord and the European Commission's proposals for…
Kenya central bank governor Cheserem replaced
KENYA - Kenya's widely respected central bank governor Micah Cheserem has stepped down and been replaced by pensions official Nahashon Ngige Nyagah, the government announced on Apr 4, 2001.
Spain's Caruana-eurozone inflationary risks remain
SPAIN - Bank of Spain Governor Jaime Caruana said Apr 4, 2001 that inflationary risks in the euro zone are easing but continue to exist.
Austrian cbank says it sold 30 tonnes of gold
AUSTRIA - The Austrian National Bank said on Apr 5, 2001 that it had recently sold 30 tonnes of gold, ending speculation about who was behind sales that came to light in European Central Bank figures on Apr 4.