News
Venezuela cen bank cuts discount rate to 39 pct
Venezuela's Central Bank on Tuesday lowered its discount rate for local banks seeking to borrow money to meet reserve requirements from 42 percent to 39 percent.
BofE cuts growth forecast amid 'heavy' uncertainty
The Bank of England's Inflation Report is ten years old, Mervyn King told a well attended press conference on Wednesday. He announced a cut in the Bank's growth forecast for the UK economy, suggested he didn't know what the stability and growth pact was…
Bank of Japan Press Release
PRESS RELEASE - Framework for Improving the Network Infrastructure of the BOJ-NET, 10 February.
ECB Press Release
PRESS RELEASE - New Guideline of the ECB concerning Eurosystem reporting requirements and procedures in the field of money and banking statistics, 10 February.
European Parliament Press Release
PRESS RELEASE - Duisenberg to appear before Economic and Monetary Affairs Committee, 11 February.
U.S. economy facing more than war - Guynn
The U.S. economy is being restrained by more than just the prospect of war, but an expected pickup in business spending should help it strengthen as the year unfolds, Atlanta Federal Reserve Bank President Jack Guynn has said.
Irish central bank head demands IFSRA consultation
Moves are afoot to give the governor of the Central Bank of Ireland the right to be consulted by the Minister for Finance about the budget for the new financial services regulatory body, it has emerged.
Unions call for action at the Bank of France
Following the French central bank's announcement of plans for a radical reduction in the number of its branches, unions representing staff at the Bank of France have called for strike action from Monday.
Central bank aims to halt slide of Jamaican dollar
The Bank of Jamaica (BOJ) has taken additional steps aimed at halting the slide in the value of the Jamaican dollar against its United States counterpart.
Ukrainian central bank to fight money laundering
The National Bank of Ukraine expects to make another decision to fight money laundering schemes and stop unlawful money transfers abroad by the end of this week, the head of the National Bank of Ukraine, Serhiy Tyhypko, said Monday.
Single currency for West Africa "well on course"
The West African Monetary Institute (WAMI) says the planned convergence of a single currency by member countries of the West African Monetary Zone (WAMZ) is well on course. "Following the landmark decisions in Bamako, Mali, in December 2000, establishing…
Roth: SNB will intervene to control franc level
Jean-Pierre Roth, the chairman of the governing board of the Swiss National Bank, said in a speech Tuesday that the central bank would intervene if necessary to prevent the appreciation of the Swiss franc.
Greenspan testimony questions stimulus for economy
Federal Reserve Chairman Alan Greenspan said on Tuesday that uncertainties over a possible war with Iraq posed "formidable barriers" to business spending and made it tough to gauge the U.S. economy's health.
Australian interest rates to remain stable
The Reserve Bank of Australia's quarterly statement on monetary policy said the global economy had lost momentum in late 2002 and that had weakened the case for rate rises this year.
Bank of France pressed to close down branches
The Bank of France is considering a drastic overhaul of its extensive presence throughout the country, closing the bulk of its 211 branches. The sharp cutbacks in the bank's activities are proposed in a report handed in to Jean-Claude Trichet, the…
Egypt cb says forex market more stable
The governor of the Central Bank of Egypt Mahmud Abu-al-Uyun told bankers that, 10 days after the liberalization of foreign exchange, the forex market is becoming increasingly stable.
Dinkic best candidate to head Serbia's cb
Outgoing governor National Bank of Yugoslavia, Mladjan Dinkic, is seen to be the best candidate to head the new National Bank of Serbia.
Israel cb criticises govt over deficit dangers
Israel's central bank has criticised the government over its handling of the budget. The Bank of Israel said the Israeli government needed to make substantial cuts to the budget to reach its 2003 budget deficit target.
Venezuelan, Colombian cbs agree on payment system
Following meetings between central bank officials from Venezuela and Colombia, a system has been agreed which will control and guarantee payments for Colombian exports to Venezuela.
PBOC to enact anti-money-laundering regulations
The People's Bank of China will enact its first anti-money-laundering regulations next month as part of a crackdown on rampant crime and the illegal outflow of more than 200bn yuan (188.54 bn HK dollars) a year.
Philippines to revise inflation target downwards
The Philippines has set a 4 to 5 percent average inflation rate target for next year, slightly lower than this year's target of 4.5 to 5.5 percent.
BIS Press Release
PRESS RELEASE - Central banks to collect more in-depth statistics on banks' country risk exposures, 7 February.
Financial Services Policy Committee Press Release
PRESS RELEASE - Federal Reserve Banks Announce Changes to Increase EfficiencyIn Check Services as Check Volumes Decline Nationwide, 6 Feb.
Sveriges Riksbank Press Release
PRESS RELEASE - Repo rate left unchanged at 3.75 per cent, 7 February.