News
Trinidad: ex-central bank governor helps party
TRINIDAD - Port of Spain, Trinidad: Former Central Bank Governor Winston Dookeran says he is assisting the main opposition United National Congress (UNC) to prepare its manifesto for the next general elections, widely-expected by October.
Bank of England downgrades inflation forecast
UK - The Bank of England said today it was ready to cut interest rates, reversing its position three months ago when it expected to put up the cost of borrowing.
Brazil's interbank clearinghouse to bring benefits
BRAZIL - Brazil's new interbank payment clearinghouse is expected to stimulate online transactions between banks once it becomes operational, Brazilian financial daily Valor Economico reported.
Kuwait gov't reviews action on money-laundering
KUWAIT - The Deputy Prime Minister, Minister of State for Cabinet and National Assembly Affairs, Mohammed Deifallah Sharar said, in a Cabinet statement, that the council followed up on steps aimed at combating money-laundering and examined a report,…
Banks urged to expand risk management techniques
US - A top Treasury Department official said this week that regulators need to push banks to back up advanced risk management techniques with old-fashioned, case-by-case credit analysis.
BOJ to up security with new bank note issue
JAPAN - Novelist Ichiyo Higuchi (1872-1896), whose portrait is to be featured on a redesigned 5,000 yen bill, will be the first woman to appear prominently on Japanese paper currency since the end of World War II.
RBI group okays e-money
INDIA - The RBI Working Group on electronic money has said that e-money could be used as a substitute for the central bank notes and coins even though it would not be "desirable" to place any limit on storing monetary value in e-money.
Ecuador bank chief predicts 6% growth for 2003
ECUADOR - Ecuador's economy is set to expand by six per cent next year, up from four per cent growth this year, the country's central bank president, Mauricio Yepez, predicted on Friday.
Taiwan dollar drops in wake of president's remarks
TAIWAN - The New Taiwan dollar yesterday fell against its US counterpart, impacted by Taiwan President Chen Shui-bian's remarks on cross-strait relations over the weekend. The unit was down NT$0.102 to close at NT$33.825 on the Taipei foreign exchange…
Brown criticised for delay in naming Bank deputy
UK - Gordon Brown, the UK chancellor, faced criticism on Monday over the delay in appointing a new deputy governor for the Bank of England. Leaving the possibility that the 9 member Monetary policy Committee will have to sit a spare seat during what…
Paul O'Neill heals rift with Brazil on economy
US - Paul O'Neill and the Brazil government apparently saw eye to eye on Monday, with the US treasury secretary saying US support for Brazil had been consistent and his meetings with Brazilian policymakers "very cordial".
Double-dip recession unlikely - Fed's Poole
US - St. Louis Federal Reserve Bank President William Poole said on Sunday the odds the U.S. economy might fall back into recession given the stock market's recent woes were "very, very small."
Federal Reserve Bank of Chicago Press Release
PRESS RELEASE - James Nelson to head Bank Supervision at the Chicago Fed, 29 July.
IMF Press Briefing by Thomas Dawson
PRESS BRIEFING - Transcript of a Press Briefing by Thomas C. Dawson, Director, External Relations Department, International Monetary Fund, 1 August, Washington, D.C.
IMF News Brief
NEWS BRIEF - IMF Managing Director Kohler Prepared to Recommend US$500 Million Increase in Stand-By Credit to Uruguay, 4 August.
IMF News Brief
NEWS BRIEF - Joint Statement by IMF, World Bank and Inter-American Development Bank on Uruguay, 4 August.
Federal Reserve Board Press Release
PRESS RELEASE - Donald L. Kohn and Ben S. Bernanke sworn in as Board members, 5 August.
Central bank to analyse inflation fall in Thailand
THAILAND - The Bank of Thailand will look at why inflation has declined in recent months, according to Bandid Nijathaworn, an assistant governor.
PM says Thai central bank governor's job is safe
THAILAND - Prime Minister Thaksin Shinawatra yesterday denied rumours he planned to sack central bank governor M.R. Pridiyathorn Devakula over recent volatility of the baht.
Korea's for ex reserves jump to $115.49 bn
SOUTH KOREA - The nation's foreign exchange reserves hit a fresh high of $115.49 billion at the end of July, up $3.05 billion from the end of June, the Bank of Korea (BOK) reported Monday.
US names IMF representative
US - The White House Friday said it had appointed Nancy Jacklin, a lawyer at Clifford, Chance, Rogers and Wells, with expertise in international finance and regulation, to be the US representative at the International Monetary Fund.
BOJ Gov Hayami to visit Osaka, Nagoya 5-6 Sept
JAPAN - Bank of Japan (BOJ) Governor Masaru Hayami will make an annual visit to the cities of Osaka and Nagoya on 5-6 September, the central bank said on Monday.
Philippines central bank reorganises departments
PHILIPPINES - The policy-making monetary board has reorganised the Bangko Sentral ng Pilipinas' (Central Bank of the Philippines, or BSP) Supervision And Examination Sector (SES) for a more coordinated management of the banking industry.
New GDP formula to be used by Bank of Korea
SOUTH KOREA - The Bank of Korea will announce a gross domestic product (GDP), or a gross added value of the economy, under a new formula, starting from the third quarter of 2004.