News
Reform of credit card schemes in Australia
Statement by the Reserve Bank of Australia on credit card reforms, 1 July.
BoJ Monetary Policy minutes, 19 and 20 May
Minutes of the Bank of Japan's Monetary Policy Meeting on 19 and 20 May 2003, released 30 June. With respect to domestic demand, corporate profits were recovering, and if exports and production resumed their upward trend, business fixed investment was…
6 May Minutes of Federal Open Market Committee
The Federal Reserve on 26 June released the minutes of its FOMC meeting of 6 May. The minutes showed all the members indicated that they could support a proposal to maintain an unchanged policy stance. But they acknowledged that a case could be made for…
Bank of Japan survey shows business sentiment up
The Bank of Japan's "tankan" survey released on Tuesday 1 July suggested that managers in Japan were becoming more optimistic, Associated Press reports, with large companies planning to boost capital expenditure by 4.9 percent this fiscal year.
Thailand's SET backs new derivatives exchange
Thailand's new derivatives market is expected to open next year with funding from the Stock Exchange of Thailand, notes the Bangkok Post. The new exchange will begin trade in futures contracts based on the stock index, interest and currency rates.
Bollard not concerned over NZ dollar strength
Reserve Bank of New Zealand governor Alan Bollard said on Tuesday 1 July that he was not concerned about the strength of the NZD "but we keep looking at it", according to One Business.
Armenia of interest for Russia's banking sector
Armenian central bank chairman Tigran Sarkisyan said in an interview that as bilateral economic contacts gather pace with Russia, Russian commercial banks will step up co-operation with Armenian partners to increase the servicing of financial flows,…
Bulgarian PM says c bank unaffected over delay
Bulgarian prime minister Simeon Saxe-Coburg said at the weekend that the delay in naming a new governor for the National Bank of Bulgaria will not have a negative effect on the institution, according to Novinite. He also said he did not know of a third…
Putin, central bank chairman discuss economy
Chairman of the central bank of Russia Sergey Ignatyev met with President Vladimir Putin on Monday 30 June to discuss the financial and economic situation in the country, RTR Russia TV reported. Ignatyev said the macroeconomic situation remains stable,…
India joins IMF's pool of lenders
A statement from the Reserve Bank of India, reported by Associated Press, said that the IMF has selected India for the first time to become a member of its Financial Transaction Plan, which helps bail out countries facing currency crises or at risk of…
Jean-Claude Trichet to chair G10 Governors
Jean-Claude Trichet was elected Chairman by the Governors of the Group of Ten (G10) central banks on 29 June. He succeeds Sir Edward George, who is retiring as Governor of the Bank of England.
BIS Board invites new member central banks to join
The Bank for International Settlements (BIS) Board has invited six central banks to BIS membership and appointed Hans Tietmeyer as Vice-Chairman of the Board of Directors of the BIS, 30 June.
Accession country central banks observe ECB meet
The ECB's General Council meeting of 26 June was attended for the first time by central bank presidents of the ten EU accession countries. The ECB decided last September to invite presidents and experts of the accession countries' central banks to attend…
Argentine Lavagna takes over FSRU bank 'hospital'
Argentina's Financial System Restructuring Unit, known as the bank "hospital", will be controlled by Argentina's economy minister Roberto Lavagna, according to la nacion. The move will ensure that any future restructuring of the financial system will be…
Bank of Lithuania issues its first bimetallic coin
The Bank of Lithuania has issued a 200 litas commemorative coin to celebrate the 750th anniversary of the crowning of King Mindaugas, the Baltic News Service announced. This is Lithuania's first bimetallic commemorative coin (gold and silver).
Deflation fears as c bankers eye global pick-up
The annual meeting of the Bank for International Settlements kicked off on Sunday 29 June with central bankers predicting a "gradual sluggish pick-up across the world moving into next year" as outgoing Bank of England Governor Sir Edward George said,…
Egypt - UK central bank agreement planned
Officials from the Central Bank of Egypt (CBE) have met for talks at the Bank of England's Centre for Central Banking Studies (CCBS) to launch a cooperation agreement between the CBE's Egyptian Banking Institute and the CCBS, according to the MENA news…
Germany plans major cuts in income tax
Germany plans wide ranging income tax cuts to stimulate Europe's largest economy, Chancellor Gerhard Schroeder said at the weekend. Both the EC and ECB have warned against financing the tax cuts through more state debt.
''Economic ideas on Asia should be from Asians''
Hong Kong Securities and Futures Commission chairman Andrew Sheng told reporters that Asian economic ideas should ideally originate, be written and discussed by Asians rather than rely on Western economists, the buisness Times reported.
Croatian National Bank holds conference on reforms
9th international conference on the reforms, results and development experiences of transition and emerging market economies, organized by the Croatian National Bank, started in Dubrovnik on Thursday, June 26. This year's Conference will focus on banking…
SEACEN-BIS Seminar on central bank governance
This seminar (17-20 Feb 2004) intends to examine comparative practice amongst central banks and in particular in the area of corporate governance arrangements within central banks and highlighting linkages with independence, transparency and…
Bangladesh to increase monitoring of forex market
The central bank of Bangladesh will increase the monitoring of its foreign exchange market and import and export activities from the beginning of the next tax year, the New Nation reports. This is in order to reduce money laundering and the misuse of…
Mexico on track for 3% inflation in 2003 - c bank
The governor of Mexico's central bank, Guillermo Ortiz, is reported by Reuters to have said that the trend in inflation for the first two weeks of June suggests the country is going to be in the range of its targets for this year.
Former governor, Central Bank of Sri Lanka dies
The Central Bank of Sri Lanka announced with deep regret, the passing away of Dr Warnasena Rasaputram, a former Governor (1979-1988), a career Central Bank Officer and finally a distinguished diplomat who served Sri Lanka, 25 June.