News
Slovenia establishes anti-counterfeiting agency
The Bank of Slovenia's board of governors has adopted new short-term guidelines for the central bank's monetary policy, according to a report by the STA news agency. The board took a decision to establish a national agency that would fight money…
ECB member urges business to cope with strong euro
ECB board member Matti Vanhala, according to a Bloomberg report, appeared to suggest on Thursday 23 October that the bank was not concerned about the euro's increase, saying that companies would have to cope with the currency's appreciation.
Forged currency centre idea for Bulgaria's c bank
Bulgaria is preparing to establish a centre to carry out analyses of all forged money seized in Bulgaria, according to the Sofia Morning News. Legislative changes will have to be made for setting up the centre, which will analyse Bulgarian levs, euros…
Bank of Japan chief plans Beijing trip to PBOC
Bank of Japan chief Toshihiko Fukui will meet with the governor of the People's Bank of China Zhou Xiaochuan during a two-day visit to Beijing, according to AFX.
Belgium cb's shares fall ahead of court rule
The National Bank of Belgium's shares fell on Friday 24 October on fears that the country's Supreme Court would rule against the central bank in a case to decide ownership of the bank's assets, according to Reuters. An action group representing…
PBOC to take over anti-money laundering role
According to a new amendment draft of a major banking law, reports Asia Pulse, the People's Bank of China is likely to replace the Ministry of Public Security to organize the fight against money laundering. The central bank will also guide banks and…
Active policy can provide stability-Fed's Bernanke
Federal Reserve Governor Ben Bernanke said in a paper due to be delivered at a Dallas Fed conference on Friday 24 October that "The fact that the Federal Reserve and other central banks actively manipulate their instrument interest rates is not…
ECB's Wellink: Interest rates low enough
European Central Bank Governing Council Member Nout Wellink said on Thursday 23 October that interest rates are low enough to support economic recovery in the eurozone, according to Reuters.
Duisenberg optimistic for eurozone economy
Outgoing European Central Bank President Wim Duisenberg said on Thursday 23 October that he was "fairly optimistic" regarding the outlook for eurozone growth, according to AFP Things are going in the right direction, albeit slowly. I think that in Europe…
RBNZ leaves rates unchanged
The Reserve Bank of New Zealand left interest rates unchanged at 5 per cent on Thursday 23 October. "As noted in our September monetary policy statement, the New Zealand economy has been enjoying strong economic growth, with robust domestic demand…
High Court dismisses criminal case vs BSP officers
The Philippines Supreme Court has upheld the decision by the Office of the Ombudsman to dismiss the criminal complaint against central bank governor Rafael Buenaventura, according to a report by AFX The Court rejected the petition of former Urban Bank…
Central bank of Brazil cuts base rate to 19%
Brazil's central bank announced on Wednesday 22 October that it cut the Selic base rate to 19 per cent after its two-day meeting, reports AE Brazil. A Copom statement said that the cut was made because inflation is falling into line with targets.
Berlusconi calls for easing of the Stability Pact
Italian Prime Minister Silvio Berlusconi has, according to the EU Observer, said of the EU's Stability and Growth pact that "The 3 percent should not be taken as an absolute value beyond discussion and might be adjusted down by one or two percentage…
Greenspan to address Cato's Monetary Conference
Federal Reserve Chairman Alan Greenspan is scheduled to participate in the Cato Institute's 21st Annual Monetary Conference, "The Future of the Euro," at The Renaissance Hotel in Washington, D.C., on Nov. 20. Topics on the agenda include the impact of…
Uzbek central bank hosts convertibility seminar
The central bank of Uzbekistan, according to a report by Uzbek Television, has held a seminar at its Tashkent regional directorate to discuss further liberalization of the currency market and ensure the convertibility of the national currency, the som,…
Bank of England MPC Minutes 8/9 October 2003
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 22 October for the meeting of 8 and 9 October 2003. Deputy governor Andrew Large, executive director Paul Tucker and external MPC members Kate Barker and Stephen Nickell,…
Minutes show BoE came close to rate increase
Minutes from the Bank of England's October Monetary Policy Committee meeting published on Wednesday 22 October showed four of the nine members, including deputy governor Andrew Large, voted for an increase in interest rates, according to Reuters. The…
Chirac nominates Noyer as Bank of France president
French President Jacques Chirac nominated Christian Noyer on Wednesday 22 october as Jean-Claude Trichet's successor at the Bank of France, the Financial Times reports. Noyer, 53, is a former deputy governor of the European Central Bank.
Rwanda: Central bank to withdraw old bank notes
The Central Bank of Rwanda has decided to withdraw legal tender for old banknotes beginning December this year, according to The New Times. An official from the Central Bank said that new notes were already in circulation to replace old ones that had…
BI hands over money laundering authority to PTATK
Bank Indonesia has handed over the handling of suspicion transaction reports from banks to the PTATK in accordance with a new law, acording to a report by AFX Asia. The Financial Action Task Force on anti-money laundering had pressed for the new law to…
Ecuador reports record monetary reserves
The Central Bank of Ecuador has reported that reserves, which have been increasing since August, have hit a record breaking level, according to a report by CRE Satelital radio. The increase is due to the arrival of new loans from international…
Belarus, Russia discuss money-emission centre
The National Bank of Belarus and the Russian Central Bank have approved the framework of pegging the Belarusian rouble to the Russian rouble for the first quarter of 2004, according to the Belapan news agency.
New Deputy Governor elected to Bulgaria c bank
Bulgaria's Parliament has elected Tsvetan Manchev deputy governor of the Central Bank and head of the Emission Department, according to a report by Novinite. He was previously executive director of the Agency for Economic Analyses and Forecasts with the…
Plan to move Russian central bank to St Petersburg
Sergei Mironov, speaker with the Russian Federation Council, has said, according to a report by Gateway to Russia, that the Russian central bank might be transferred to St Petersburg. Mironov said he is for the transfer as it will bring funds to the city.