News
Singapore MAS to brief on mon policy twice a year
The Monetary Authority of Singapore said on Feb 26, 2001 it will hold a media briefing twice a year on its monetary policy in an effort to raise transparency.
Pakistan cuts GDP forecast to below four percent
Pakistan's central bank on Feb 26, 2001 slashed its economic growth target for the second time in four months, because of slower growth in agriculture, high oil prices and the falling rupee.
Polish rate cuts hinge on meeting '03 inflation
Polish policy-makers will not cut interest rates until confident there is no danger to the medium-term inflation target, central bank chief Leszek Balcerowicz said in a newspaper interview published on Feb 26, 2001.
Indonesia, IMF agree on c.bank independence-Ramli
Indonesia's chief economics minister Rizal Ramli said on Feb 26, 2001 he had reached agreement with the International Monetary Fund on the need to maintain the central bank's independence but stopped short of saying a long running deadlock had been…
Romania must step up inflation fight-c. bank chief
Romania has to step up its battle against inflation but needs to do so gradually to avoid shocks from a sudden reduction, Mugur Isarescu, the governor of the central bank (BNR), was quoted as saying on Feb 26, 2001.
IMF to assess Finnish financial sector
Finland will help the International Monetary Fund to prepare an assessment of the Finnish financial sector, which is a new IMF tool for monitoring member country economies, the central bank said on Feb 26.
Swedish inflation risks receding-Riksbank
Sweden's central bank, the Riksbank, said on Feb 26, 2001 that inflation risks appeared to have diminished since it raised interest rates in December 2000, although the outcome of the current wage round could affect the picture.
Bank of Israel cuts lending rate by 0.2 pct point
The Bank of Israel said on Feb 26, 2001 it was lowering its key lending rate by 0.2 percentage points to 7.5 percent, its eighth straight monthly reduction and the 14th in the past 16 months.
Colombian central bank profits jump 61 pct in 2000
Colombia's Central Bank made profits of 1.45 trillion pesos, or $642.6 million, in 2000, up 61 percent from 1999, mainly due to better performance on its foreign reserves.
Slovak exchange rate mechanism to change for EU
Slovakia has to change its exchange rate regime before joining the European Union, Slovak Finance Minister Brigita Schmoegnerova said on Feb 25.
Oman poised to tighten loan rules again
Barely five months after easing the regulations for personal bank loans, the Central Bank of Oman seems poised to tighten them again.
Launch of review of NZ mon policy-Lars Svensson
Lars Svensson, a professor of economics at the Institute for International Economic Studies,Stockholm University, will publish on Wednesday, February 28, at 4 pm (NZ time, GMT+13 hrs) his independent review of the operation of monetary policy in New…
Colombia cbank cancels meeting amid board changes
Colombia's central bank has canceled this week's regular Friday board meeting on Feb 23, 2001 a spokeswoman for the institution said.
ECB looking to move Frankfurt headquarters
The European Central Bank, not even three years old, has already outgrown its headquarters and plans to construct a building outside the city's high-rise banking district by around 2006.
Turk PM Ecevit under fire for lira float turmoil
Turkish Prime Minister Bulent Ecevit faces mounting fury at home after sending the lira currency into freefall to try to curb a financial crisis and resisting pressure to reshuffle his beleaguered government.
Japan greets S&P cut with disdain and delight
Japan's loss of its top-notch credit rating caused indignation among politicians on Feb 23, 2001, but the central bank and financial markets welcomed it as a wake-up call for the government to mend its free-spending ways.
UK euro entry debate finely balanced-BoE's George
Britain's central bank governor on Feb 23, 2001 declared himself a euro pragmatist, and said the arguments for and against the country joining the euro zone were finely balanced.
Buba 2000 profit at around DM 16bn - magazine
Germany's Bundesbank is expected to post a profit of around 16 billion marks ($7.42 billion) for 2000, Der Spiegel magazine said on Feb 23, 2001.
Central bankers discuss e-commerce at NY Fed
International central bankers on Feb 23, 2001 discussed how greater use of the Internet might affect monetary policy but said no definitive conclusions had been reached
Buba Remsperger - German growth seen slower in '01
Economic growth in Germany in 2001 will be slower on average than in 2000, Deutsche Bundesbank Chief Economist Hermann Remsperger said Feb 23, 2001 in an interview with German news agency VWD.
BSP to tighten insider lending rules BIS standard
The Bangko Sentral ng Pilipinas (BSP) will tighten its rules on loans to banks' directors, officers, shareholders, or related interests (DOSRI) to further strengthen the banking system and meet international standards.
BOJ Yamaguchi signals possible mon policy ease
Bank of Japan Deputy Governor Yutaka Yamaguchi says he is now more cautious about prospects for the Japanese economy than he was in 2000, signaling the central bank has not ruled out a possible relaxation of its monetary policy, Kyodo News reported.
Compulsory reserve ratio maintained in Vietnam
The Vietnamese central bank will not reduce the compulsory reserve ratio for foreign currency deposits of less than 12 months despite proposed amendments from some local banks since earlier this month.
Turk cbank floats lira, to adopt inflation target
The central bank of Turkey said Feb 22, 2001 that it's shifting from a monetary framework centered on the exchange rate to one centered on formal inflation targeting, which will give the bank more flexibility and independence.