News
Russia's central bank reduces interest rate to 18%
The Russian Central Bank reduced its refinancing rate from 21% to a record low of 18% from 17 February, having taken into account a slowdown in inflationary growth and the real level of interest rates on the Russian money market.
Poland may join EU zone in 2006 says central bank
President of the National Bank of Poland (NBP) Leszek Balcerowicz sees the possibility of Poland's joining the European Monetary Union in 2006 provided that the standard two-year ERM2 period is shortened.
KC's Fed Reserve Bank joins economic conference
Economists from the Federal Reserve Bank of Kansas City will make presentations at a free conference Thursday in Jefferson City titled "Raising the Economic Speed Limit."
Japan PM nearing decision on central bank chief
Prime Minister Junichiro Koizumi is near a decision on a successor for outgoing Bank of Japan (BOJ) Governor Masaru Hayami, whose five-year term ends 19 March, Chief Cabinet Secretary Yasuo Fukuda indicated Tuesday.
PM, Frenkel meet to discuss emergency economy plan
The likelihood of Israel's Finance Minister Silvan Shalom leaving the Treasury has risen after Prime Minister Ariel Sharon summoned former Bank of Israel governor Jacob Frenkel, chairman of Merill Lynch International, for a three-hour discussion on the…
Treasury wants Bank of Israel to refund bonuses
The director of wages at Israel's treasury, Yuval Rachlevsky, has instructed 800 workers at the Bank of Israel to repay their "efficiency bonuses," which total millions of shekels. Rachlevsky informed the bank's governor, David Klein, Monday.
EU Commission wants joint action by central banks
The EU Commission is in favour of a joint effort by all international central banks if a war in Iraq should weaken the world economy, financial daily Boersen-Zeitung said, citing an internal note from the EU's economic and monetary affairs commissioner…
Iranians turn to gold as war casts its shadow
Iran's central bank has introduced measures designed to bring down soaring gold prices, including easing procedures for the importation of gold and silver bullion, a bank official, Jalal Jalilian, was quoted as saying Tuesday.
Sveriges Riksbank Press Release
PRESS RELEASE - Allocation of the Riksbank's net income 2002, 14 February.
Sveriges Riksbank Press Release
PRESS RELEASE - Riksbank's annual report 2002; stronger krona reduced earnings, 14 February.
Austria's Tumpel-Gugerell tipped for ECB post
A report said the Austrian government is expected to officially submit Austrian central bank vice-governor Gertrude Tumpel-Gugerell's name in the next few days as the country's candidate to succeed Finland's Sirkka Hamalainen on the ECB's Executive Board.
No such thing as a free (or cheap) lunch at IMF
The International Monetary Fund will stop subsidising its cafeteria from 1 May. Part of the problem was World Bank staff flocking in from across the road for cheap nourishment.
Interest rate warning on euro entry
Bank of England MPC member Kate Barker has called into question the economic case for joining the euro citing "difficulties in the European policy background and problems with the UK exchange rate".
ECB plans for reform may run into problems
Plans to reform the European Central Bank, including cutting the voting power of smaller European Union member states, are expected to run into trouble this week. Some Finnish MPs claim Paavo Lipponen, their prime minister, assured them that the Bank of…
Japan central bank keeps dismal view on economy
Japan's central bank kept its bleak view of the economy unchanged for the fourth-straight month in a report Monday that said growth was hampered by weak domestic consumption and volatile exports.
Indonesia names 3 possibles for central bank chief
Indonesian President Megawati Sukarnoputri has submitted to parliament three experienced central bankers as choices to replace central bank governor Sjahril Sabirin when his term expires in May.
Chavez calls for fixed interest rates
President Hugo Chavez said Sunday interest rates should be fixed to reverse Venezuela's deteriorating economic situation, just days after he imposed exchange controls and price controls for the same reason.
German economy stagnant, says Bundesbank
Germany appeared to move a step closer to a new recession Monday when the Bundesbank estimated that the euro zone's biggest economy contracted slightly in the fourth quarter of last year.
Duisenberg may have to extend stay at ECB
There have been calls for European Central Bank (ECB) president Wim Duisenberg to extend his stay at the head of the bank due to questions over the fate of his successor.
European Parliament Press Release
PRESS RELEASE - ECB - steady as she goes despite uncertainty, says Wim Duisenberg, 17 February.
Bank of Japan Press Release
PRESS RELEASE - Announcement of the Monetary Policy Meeting decisions (unchanged), 14 February.
Venezuela's Zavala - No for ex trading until March
According to Central Bank of Venezuela (BCV) Director Domingo Maza Zavala, foreign exchange trading will continue to be suspended until the end of February to allow government and Central Bank officials enough time to implement the controls.
Russian gold reserves reach another record high
Russia's gold and foreign exchange reserves totalled 50.2bn dollars as of 7 February, compared with 49.3bn as of 31 January, First Deputy Chairman of the Russian Central Bank Oleg Vyugin told journalists.
Prodi urges more flexibility on Pact
European Commission president, Mr Romani Prodi, has called for more flexible rules governing the 12-nation euro zone, amid warnings that war on Iraq could throw the region's economy further off course. Prodi famously referred to the Pact as 'stupid'…