News
Bank of Japan subscription to the Asian Bond Fund
The Bank of Japan has decided to subscribe to the Asian Bond Fund offered by the Bank for International Settlements (BIS), 2 June.
RBI defends certain coins as legal tender
The Reserve Bank of India made a statement following rumours that some coins had ceased to be legal tender, the Economic Times reports. Contrary to certain media reports, the central bank said, coins of 5, 10 and 20 paisa can still be used.
EU to lighten up on monetary policy requirements
Market watchers have suggested that the proposed narrow exchange rate band of 2.25% for ERM2 countries may be softened for Poland and other countries who fear it would be difficult to conduct fiscal policy under those conditions, according to a report in…
Bank Indonesia gov will monitor capital inflows
The recently appointed governor of Indonesia's central bank said that the bank will aim to maintain stability of the rupiah and will monitor capital inflows, according to Dow Jones.
ECB's Issing 'Deflation possible in Germany'
The ECB's chief economist Otmar Issing told Berliner Zeitung that the possibility of deflation in Germany cannot be excluded.
Malaysia plans Islamic licences for foreign banks
Bank Negara Malaysia Governor Zeti Akhtar Aziz said in a statement on Monday 2 June that following the faster-than-expected development of Islamic banking in Malaysia the bank plans to issue new Islamic banking licences to foreign banks, according to Dow…
Slovak central bank revises upwards growth in 2003
The National Bank of Slovakia said in its monetary report on Tuesday 3 June that it expects higher growth than originally predicted at 4.4 percent for 2003, according to the TASR website.
Turkish exporters blame c bank for FX drop
After criticism from the prime minister, the central bank of Turkey has received more stick, according to NTV television, this time from disgruntled exporters who blame the central bank for the drop in the US dollar.
Argentina begins banking reform moves
An IMF mission was due to arrive in Argentina on Tuesday 3 June as Congress start discussion on the financial reform bill. The most important aspect of the bill, according to a report in the Financial Times, is that it grants central bank directors…
BIS announce launch of the Asian Bond Fund
The Bank for International Settlements (BIS) announced the launch of the Asian Bond Fund (ABF) on 2 June. Speaking at the launch BIS General Manager Malcolm Knight described the ABF as a significant step in fostering regional cooperation in Asia.
Senior appointment made at the RBA
The Reserve Bank of Australia announced the appointment of Chris Ryan as Head of Domestic Markets Department on 2 June.
Fed governor sees no deflation threat in US
Federal Reserve governor Ben Bernanke said on Saturday May 31 that the prospects for the US economy were good and expected growth in the second half of this year of between 3.0 and 3.5 percent, rising to four percent in 2004, according to Channel News…
Putin speaks of Russia's 'considerable' reserves
Asked at a news conference whether he preferred the dollar or the euro Russian President Vladimir Putin said his favourite was "the rouble", according to the Interfax news agency. He also spoke of the considerable increase in reserves held by the central…
Turkish PM blames central bank over exchange rate
The Turkish prime minister has apparently laid blame for the fall in the countries exchange rate at the door of the central bank, according to NTV Televsion, Turkey. He said that having to cut interest rates made it even more difficult to raise the…
Pakistan pledges to train Afghan bankers
The head of the central bank of Afghanistan Anwar Ahadi arrived in Pakistan on Sunday on a mission to boost economic cooperation between the two countries, according to a report by the Voice of the Islamic Republic of Iran.
Solomons cb wants parliament to discuss economy
Rick Hou, governor of the Solomon Islands central bank, has called on parliament to arrange a meeting to discuss the problems facing the country. He described the country's fiscal situation as drifting into deeper water, according to Solomon Islands…
Eurozone inflation drops to 1.9%
Inflation in the Eurozone fell below the ECB's 2 per cent target for only the second time last month according to Eurostat, the Associated Press reports.
Bush tells G8 would prefer stronger dollar
At the G8 summit on Monday 2 June, George Bush said he was committed to maintaining a strong dollar but that ultimately he wasn't the one who decides it. That job fell to Alan Greenspan, Reuters reported Mr Bush as saying.
Zimbabwe's central bank chief resigns
Zimbabwe's central bank governor, Leonard Tsumba, has gone on leave with immediate effect. He planned to retire at the end of July but reports say he stepped down after criticism over the bank note shortage Zimbabwe currently faces, according to AFP.
Swedish central bank issues commemorative coins
Sveriges Riksbank issues commemorative coins to commemorate the 700th anniversary of the birth of Saint Birgitta, 27 May 2003
Copom blames inflation for interest rate inaction
The central bank of Brazil said on Thursday 29 May that its decision to hold interest rates last week was down to "persistent inflation". AEBrazil reported that minutes released by the bank said it is premature to conclude that inflationary pressure has…
Bangladesh currency, the taka, to float
From Saturday 31 May Bangladesh will float the taka freely on the foreign exchange markets, the BBC reported. The announcement on Thursday came after the government agreed to a proposal to float made by the International Monetary Fund (IMF).
Zimbabwe central bank prints emergency cash
Zimbabwe's bank note producers are working non-stop to bring an end to the cash shortage after extra printing paper arrived in Harare on Thursday. The governor of the central bank told Zimbabweans not to panic, the BBC reported.
Thai central bank chief: Baht is now stable
Thailand's central bank governor said on Friday 30 May that the baht has gained stability against the dollar following its recent appreciation, according to Dow Jones.