News
BOK to focus monetary policy on stock market
SOUTH KOREA - Korea's central bank will conduct its monetary policy with the goal of stabilizing local stock markets, the banks chief has said.
Euro members told not to over inflate accounts
GERMANY - European countries which have ditched their national currencies in favour of the euro have been told they cannot use unreturned national cash to improve their budgets.
New Basle norms favour SME lending - Brazil
BRAZIL - New Basle norms that will be applied in Brazil and other developing countries in 2006 will loosen reserve requirements for banks lending to small- and medium-sized enterprises (SMEs), Brazilian daily Panorama Brasil reported on Tuesday.
Sectors fared well - Oman's c bank annual report
OMAN - The non-petroleum sectors in Oman recorded significant growth in 2001, according to the Central Bank of Oman's annual report.
Poll shows UK public would defy gov't euro support
UK - Public opinion would remain opposed to Britain joining the euro - even if the government recommended it, according to the latest opinion poll from NOP.
Floating rates are good for Zloty says Balcerowicz
POLAND - "We won't have fast economic growth if we don't heal public finances," said Leszek Balcerowicz, governor of Poland's central bank, in a speech before parliament on Tuesday.
Inquiry says fx controls contributed to rand fall
SOUTH AFRICA - A public inquiry into the sharp fall of the South African currency last year blames the country's slow pace of privatisation and the tightening of exchange controls.
ECB Press Release
PRESS RELEASE - Award for Dr. Willem F. Duisenberg, President of the European Central Bank, 24 July.
Bank of France's Trichet sees euro zone growth
FRANCE - Bank of France governor Jean-Claude Trichet urged investors to "stay calm" during the slump in global financial markets, saying Wednesday that the downturn should not prevent growth in the 12-nation euro zone.
ECB Press Release
PRESS RELEASE - Publication of "Measurement issues in European Consumer Price Indices and the conceptual framework of the HICP", 22 July.
Kyrgyz president and SNB head discuss banking
KYRGYZSTAN - On Tuesday Kyrgyz President Askar Akayev received the president of the Swiss National Bank, Jean-Pierre Roth, who was visiting Kyrgyzstan's capital, Bishkek.
Tajikistan, US government sign finance agreement
TAJIKISTAN - The ceremony of signing a memorandum of understanding took place between the US government and the National Bank of Tajikistan in Dushanbe yesterday, Monday.
Thai central bank keep rates unchanged
THAILAND - The central bank's Monetary Policy Committee yesterday kept short-term interest rates unchanged, noting that recent data pointed to steady recovery in manufacturing and consumption.
China vows to keep exchange rate stable
CHINA - According to a news release issued by the People's Bank of China on Tuesday, the central bank's Monetary Policy Committee unanimously agreed at a recent meeting that the exchange rate of renminbi should be kept stable in the near term.
Uruguay's economy minister resigns
URUGUAY - Uruguay's Economy Minister Alberto Bension has resigned after losing the support of parts of the ruling coalition government. The board of the country's central bank - which is headed by President of Uruguay Jorge Battle's cousin - is also…
European Central Bank Press Release
PRESS RELEASE - Euro Area Securities Issues Statistics, May 2002. Released 22 July.
Howard backs Australian economy
AUSTRALIA - Prime Minister John Howard said Monday that the Australian economy was strong and resilient. The PM also expressed confidence in the Reserve Bank of Australia.
Cen bank dollar-buying boosts Thailand's reserves
THAILAND - Thailand's foreign reserves jumped by nearly 2% to a five-year high last week, official data showed on Friday, as the country's central bank bought dollars to slow a rise in the Thai currency.
Indian banks to fortify risk management systems
INDIA - The Reserve Bank of India (RBI) has asked the commercial banks in the country not to depend entirely on the certificates issued by the chartered accountants on the financial health of corporate borrowers.
SA experts - Inflation targeting needs propagation
SOUTH AFRICA - While the Reserve Bank's inflation targeting is an appropriate and essential programme, it still is in need of more public knowledge and communication among the majority of South Africans, a gathering of professionals decided on Friday.
UAE central bank profits fall
UAE - A steep decline in interest rates slashed the net profits of the UAE central bank by nearly a third in 2001, reports Gulf News, but its deposits with other banks almost doubled, its balance sheet showed.
RBI - Efforts needed to safeguard information
INDIA - The provision of adequate security has assumed urgency in banks and continuous and concerted efforts have to be made to safeguard information and information systems, the Reserve Bank of India's Deputy Governor, Vepa Kamesan, said Saturday.
Trichet affair could hurt euro, says EC president
GERMANY - European Commission president Romano Prodi said in a newspaper interview Saturday that the legal problems of French Central Bank Governor Jean-Claude Trichet, tipped to become the next head of the European Central Bank (ECB), could pose a…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 11 and 12 June 2002, released 19 July. A few members remarked that the Bank should make clear its intention to continue the current monetary easing stance because it was important to…