News
Solomons stares into economic abyss- cbank chief
The Solomon Islands is just weeks away from economic collapse, with a real risk the South Pacific nation will simply disintegrate, the country's central bank governor, Rick Houenipwela, warned on Mar 7, 2001.
CBC gov favours listing of Taiwan firms in China
Perng Fai-nan, governor of Taiwan's central bank, said on Mar 7, 2201 that he personally endorses Taiwanese manufacturers that have set up companies in mainland China to get listed on the mainland's stock markets for fundraising purposes.
Performance of Norway's oil fund announced-Mar 9
Norway's Oil Fund will annouce its results on Mar 9, 2001 when it presents its annual report for 2000 at a press conference.
US rebound likely later this year-McDonough,Moskow
William McDonough and Michael Moskow, in separate speeches on separate continents, said on Mar 8 that a rebound was likely later in 2001.
Joint euro steering group to tackle counterfeiters
The European Central Bank, European Commission and Europol on Mar 7, 2001 said they had jointly developed an action plan to combat would-be euro cash counterfeiters.
Berlin cbank president opposes ECB rate cut-paper
The European Central Bank shouldn't move to cut interest rates before euro-zone inflation reaches 2.2%, Landeszentralbank president Klaus-Dieter Kuehbacher said in an interview.
Russia cbank says too soon to ease forex sale rule
Russian Central Bank Chairman Viktor Gerashchenko said in an interview published on Mar 7, 2001 that it was too early to reduce the percentage of foreign currency receipts that Russian exporters are required to sell in exchange for roubles.
Japan foreign reserves fall in Feb on weak euro
Japan's foreign reserves, the largest in the world, fell in Feb 2001 for the first time in six months, hit in part by a decline in the euro, a Finance Ministry (MOF) official said on Mar 7.
RBA cuts official cash rate by 25 bps to 5.50%
The Reserve Bank of Australia announced on Mar 7, 2001 it had cut the official cash rate target to 5.50 per cent, from 5.75 per cent, but was criticised for past policy mistakes by the prime minister.
Mussa to step down as IMF economic counsellor
Michael Mussa is to step down as the IMF's Economic Counsellor and Director of the Research Department at the end of his current term in the position, Managing Director Horst Kohler announced on Mar 7, 2001.
Fed says U.S. economy grew sluggishly early 2001
The U.S. economy grew at a "sluggish to modest" pace at the start of the 2001, helped by slightly stronger consumer spending as retailers cut prices to clear their shelves, the Federal Reserve said on Mar 7, 2001 in its Beige Book.
Greenspan celebrating 75th birthday on March 6
Alan Greenspan, chairman of the US Federal Reserve, celebrates his 75th birthday on Mar 6, 2001, having served thirteen and a half years at the top of the US central bank.
Sjahril, Akbar discuss reshuffle at Bank Indonesia
Bank Indonesia Governor Syahril Sabirin plans to meet Speaker of the House of Representatives Akbar Tandjung on Mar 6, 2001 to discuss the list of candidates proposed to replace deputy governors Achwan and Dono Iskandar.
Bank of Canada cuts key rate to 5.25 pct from 5.75
The Bank of Canada on Mar 6, 2001 cut the bellwether bank rate to 5.25 percent from 5.75 percent,and the overnight rate to 5.0 percent from 5.5 percent, saying weakening confidence could delay the economy's recovery in the United States and damage Canada…
EU committee on Lamfalussy report want 'call back'
The EU's Committee on Economic and Monetary Affairs Committee on Mar 6, 2001 adopted a motion for a resolution on the Lamfalussy report on securities regulation, which will be submitted to a vote in plenary session in Strasbourg on Mar 14.
S.Africa still unaware of new MPC policy-Mboweni
South African markets are still not fully aware of the fact that the central bank has introduced a new monetary policy regime which focuses on inflation targetting, central bank governor Tito Mboweni said.
Kazakh cbank says lower taxes boon for economy
Kazakhstan's central bank on Mar 6, 2001 welcomed an order by the president to cut key taxes and said this was likely to slash inflation, boost bank loans to the economy and help sustain the Central Asian state's growth.
CNB Board members backed Feb 22 rate cut by 6-1
Six members of the CNB Board voted in favour of the cut in the two-week repo rate by 0.25 percentage points to 5 pct, and one member was in favour of leaving rates at their current level, according to the minutes of the CNB Board meeting held on Feb 22…
Dollar-Korean won spot rates swayed by forwards
The dollar's movement against the won in the Seoul currency market is being increasingly affected by dollar-won trading on overseas non-deliverable forward (NDF) markets, the Bank of Korea said.
Central Bank of Iceland Q1 monetary bulletin
The Central Bank of Iceland published it quarterly Monetary Bulletin on Mar 6, 2001. There is an overview of economic developments in Iceland and the measures taken to slow the economy. There is also an article by chief economist Mar Gudmundsson on…
Standards assessment puts pressure on IMF budget
The IMF's new role assessing how well member countries meet standards fordata dissemination, monetary and fiscal transparency, and bankingsupervision is starting to put pressure on the Fund's budget according to aself-evaluation released by the Fund on…
BI vows to prevent rupiah breaking 10000 level
Bank Indonesia will take action to protect the rupiah from breaking through the Rp 10,000 level against the U.S. dollar, the central bank's governor Sjahril Sabirin said on Mar 6.
ECB official attacks German bank supervisor revamp
European Central Bank Directorate Member Tommaso Padoa-Schioppa was reported on Mar 4, 2001 as reiterating the ECB's objections to German government plans to strip the Bundesbank of its banking watchdog duties.
BIS -Turkey borrowed heavily before latest crisis
Turkish public and private borrowers drew large sums from foreign banks late in 2000 even as problems were starting to show up in the country's financial system, the Bank for International Settlements (BIS) said.