News
Federal Reserve Board, Press Release, 20 Aug
PRESS RELEASE - The Federal Reserve Board announced on Tuesday that it will not, over the near term, incorporate two policy options into its longer-term Payments System Risk (PSR) policy plan. The Board will, however, continue to analyze the benefits and…
New Bank of England £5 notes reissued
UK - The Bank of England is to restart distribution of the new £5 notes. The notes have already been delivered to banks and post offices, and from Wednesday morning are being made available to the public.
Wage restraint could bring rate cuts for Norway
NORWAY - Norway's central bank governor said on Wednesday that demand and activity in Norway's oil-backed economy was still high but that lower wage growth could provide a basis for lower interest rates.
Philadelphia Fed's Santomero says policy is right
US - Federal Reserve Bank of Philadelphia President Anthony Santomero said on Wednesday that the economic recovery, while more modest than expected, should move forward and that the Fed's current policy stance is appropriate.
SARB inflation target seen as out of reach
SOUTH AFRICA - Consumer inflation surprised on the upside last month, fuelling expectations that the Reserve Bank's targets for next year are getting out of reach, though Business Day reports economists said they did not expect interest rates to rise…
RBA's Macfarlane signals rates may head higher
AUSTRALIA - Reserve Bank Governor Ian Macfarlane on Wednesday delivered an upbeat view of the Australian economy, warned of a looming shakeout in property and signalled that the bank remains on course to raise interest rates once global uncertainties…
Young blood for MAS' senior ranks
SINGAPORE - Nine officers at the Monetary Authority of Singapore, whose average age is 40, will move into key positions as part of organisational revamp, the Singapore Straits Times reported on Tuesday.
Philippines central bank tightens rules on credit
PHILIPPINES - The Bangko Sentral ng Pilipinas is set to issue this week a circular restraining banks and credit card companies from issuing pre-approved "plastic money" and requiring them to adopt a stricter system of screening credit card applications.
Chicago Fed's Moskow sees ongoing U.S. expansion
US - Chicago Federal Reserve President Michael Moskow said Wednesday that he expected the U.S. economy to keep growing, while warning that the path back to its potential growth rate could be rocky.
Dollar falls as Saudi investors withdraw billions
SAUDI ARABIA - The dollar today fell from recent highs against the euro and yen following a report that Saudi investors were pulling billions of dollars out of the US.
Danmarks Nationalbank Press Release
PRESS RELEASE - "Kun rlige penge tak!" - new folder on discoloured banknotes, 12 August.
Financial sectors in EU Accession Countries
REPORT - The European Central Bank (ECB) on Monday 19 August released a publication entitled "Financial sectors in EU accession countries". This publication describes the structure and functioning of the financial sectors of the 12 countries that are…
Romania c bank says inflation targeting off course
ROMANIA - Romania's National Bank (BNR) does not have all the necessary means to assume responsibility for attaining a clear inflation target, read the conclusion of a BNR study drafted by the bank's specialists, and coordinated by vice-governor Cristian…
Polish Statute questioned by Banking Supervisor
POLAND - Bank Gospodarki Zywnosciowej (BGZ) statute changes that would give the Polish state treasury a privileged position among shareholders have been challenged by the central bank president Leszek Balcerowicz, who also chairs the Banking Supervisory…
Brazil banks to gain with new central bank rule
BRAZIL - A new regulation that requires banks to increase their deposit reserves with the central bank is expected to cause a gain of nearly 900mn reals (US$291mn) a year for the financial system as a whole, Brazilian daily Folha de Sao Paulo reported.
CLS bank waits on Fed approval for FX settlement
UK - Settlement bank CLS, aiming to provide a global system to cut risk in settling currency deals, hopes for regulatory approval next month for a full commercial start in the last quarter of this year, Reuters reports a spokesman as saying.
Pakistan State Bank directs banks to set up ATM's
PAKISTAN - State Bank of Pakistan has directed all the domestic banks either to establish at least two auto-cash telling machine (ATMs) or join the existing Switch Network to ensure payment of salaries to government employees through ATM system.
Reports Krueger unhappy with Argentina plan untrue
US - The International Monetary Fund said on Monday a report in a Brazilian newspaper saying a top IMF official is unhappy with economic plans Argentina sent to the fund on Friday is "absolutely" untrue reports Reuters.
Belarusia gets currency union proposal from Russia
BELARUSIAN - The National Bank of Belarus has received proposals from the Russian government and the Central Bank of Russia for an accelerated introduction of the Russian rouble as the single currency of the Belarusian-Russian union state, the National…
Federal Reserve Board Press Release
PRESS RELEASE - Governor Gramlich to begin treatment for leukemia, 16 August.
Minneapolis Fed Conferences and Events
CONFERENCES - The 17th Annual Electronic Payments Conference: "The e-Payments Revolution" will be held 17-18 September, 2002, at the Minneapolis Airport Marriott, Bloomington, Minn.
Fed's Gramlich starts treatment for cancer
US - Federal Reserve Governor Edward Gramlich will begin out-patient treatment for a form of leukemia next week and medical experts believe his prognosis is good, the Federal Reserve said on Friday in a press release.
Asia central banks could be gold buyers
SINGAPORE - Asia's reserve-rich central banks are potential buyers of gold to diversify their reserve assets, even as European central banks cut their holdings, a senior official of the World Gold Council said on Monday.
Fears over delay to naming Clementi successor
UK - The UK government may delay the announcement of a new deputy governor at the Bank of England.