News
Russian government approve banking reform strategy
RUSSIA - The Russian government approved, in broad outline, a banking reform strategy in Russia on 27 September.
S Africa ctrl bk may move against Rand speculators
SOUTH AFRICA - Tito Mboweni, South Africa's Reserve Bank governor may move to stamp out the use of local finance to fund speculative attacks against the rand, the daily Business Day newspaper reported Friday 28 September.
Russia gov't lifts restrictions on bank bond issue
RUSSIA - Deputy Prime Minister and Finance Minister Alexei Kudrin reported that on 27 September the government decided to lift restrictions on the issue of Central Bank bonds.
Central bank attempts to improve capital market
CHINA - People's Bank of China Governor Dai Xianglong said the ongoing crackdown on illegal transfers for stock purchases is part of a strategy to improve the local equities market, China Daily reports Friday 28 September.
VISA attacks RBA credit card plan
AUSTRALIA - Reserve Bank of Australia (RBA) plans to regulate credit card interchange fees have come under attack from Visa International.
BI governor surrenders passport
INDONESIA - Bank Indonesia governor Sjahril Sabirin handed over on Tuesday 25 September his passport to the Directorate General of Immigration in response to the government regulation that bans crime suspects from travelling overseas.
Ten firms submit material for audit tender, Russia
RUSSIA - Ten audit firms have submitted additional materials for participation in a tender to perform an annual audit on the Central Bank of Russia for 2001, deputy head of the State Duma budgetary committee, Ashot Yegiazaryan, told Interfax.
Federal Reserve Board Press Release
PRESS RELEASE - "The Federal Reserve Board on Friday announced it is extending the deadline for public comment on the potential longer-term direction of the Board's policy on payments system risk. Comment is requested by November 16, 2001."
ECB Press Release - Monetary policy decisions
ECB PRESS RELEASE - At today's meeting the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 3.75%,…
Euro zone rates kept on hold
EUROPE - The European Central Bank (ECB) has kept eurozone interest rates on hold.
Japan's finances questioned
JAPAN - Japan's ability to repay its sovereign debts has been questioned by a leading international credit rating agency.
Pakistan wins IMF cash
PAKISTAN - The International Monetary Fund has approved a $135m cash injection into Pakistan, in a further sign of the country's strengthened relations with Western states.
IMF News Brief - Loan to Pakistan
NEWS BRIEF - IMF completes last review under Pakistan's stand-by arrangement, approves US$135 million disbursement.
Offshore banks warned over controls
UK - Offshore financial centres, which include the Channel Islands and the Isle of Man, face a "bleak future" unless they improve anti-money laundering controls in the wake of the terrorist attacks in the US, Britain's main financial regulator warned…
Swiss central bank to sell 283 tonnes of gold
SWITZERLAND - Swiss central bank Schweizerische Nationalbank (SNB) has announced that it plans to sell a further 283 tonnes of gold by end September 2002.
Russia's Geraschenko to step down in a year's time
RUSSIA - Russian financiers were in lively discussion of the probable resignation of Central Bank Chairman Viktor Geraschenko. Until now, Geraschenko always smiled when asked to confirm or deny rumors concerning his impending resignation. On 20 September…
IMF's Koehler to visit Russia 9-12 Oct, Official
RUSSIA - International Monetary Fund Managing Director Horst Koehler will visit Russia 9-12 October and an IMF mission will spend a week in Russia starting 10 October, a Russian official said Thursday 27 September.
Bank of Spain maintains confidence in the economy
SPAIN - Director of the Bank of Spain's research department, Jose Luis Malo de Molina said on 25 September that the US economy was sufficiently strong to resist the effect of the attacks and that any downturn would only be temporary.
RBNZ appoints new forecasting manager
NEW ZEALAND - Bernard Hodgetts, who occupied the post of chief economist, is leaving the ANZ Banking Group (NZ) Ltd to take up a role at the Reserve Bank of New Zealand.
Bank of Japan pumps more money into system
JAPAN - The Japanese central bank, aiming to shore up confidence in the nation's financial markets ahead of a key accounting deadline this week, continues to pump vast amounts of cash into the economy.
IMF may produce interim WEO on impact of US attack
REPORT - Ken Rogoff, chief economist of the IMF said today that his Research Department may well produce an interim World Economic Outlook report to consider some of the quantitative implications of the terrorist attacks in New York.
IMF warns on global economy
IMF REPORT - The International Monetary Fund has forecast a sharper slowdown in the world economy, following the terrorist attacks in the United States.
Europe faces economic slowdown
The International Monetary Fund (IMF) has warned that Europe will find it difficult to avoid a sharp economic slowdown, as it is hit by the tech sector collapse, weak consumer demand and the aftermath of the terrorist attacks in the USA.
Japan's slowdown to hit Asia
The International Monetary Fund (IMF) forecast a sombre short-term outlook for the Japanese economy, with significant implications for the rest of East Asia.