News
ECB Press Conference
PRESS CONFERENCE - In the question and answer session after the press conference Wim Duisenberg said that impediments to cutting rates at the current time included uncertainties relating to oil prices, geopolitical risk and that if the ECB were to cut at…
Swedish central bank warns on Iraq uncertainty
Sweden's central bank has warned that uncertainty surrounding a potential war with Iraq may take their toll on investment and economic growth throughout Western industrialised economies.
BCV director insists forex controls are essential
According to Central Bank of Venezuela (BCV) director Domingo Maza Zavala, the foreign exchange controls implemented by the government Thursday are essential for control of the economy, particularly in such troubled times.
Fed plans to change its check operations
The Federal Reserve System moved Thursday to streamline its behind-the-scenes check-processing operations, citing Americans' increasing use of debit cards and other electronic payment options to pay bills. The move is likely to lead to several hundred…
'Strong euro won't harm EU growth'
European Central Bank President Wim Duisenberg said Thursday that the recent strong rise in the euro should not hit the competitiveness of goods made in the 12-country euro zone, nor harm the outlook for growth in the region.
Koizumi offers no clues on BOJ choice
Japan's prime minister Koizumi kept his cards close to his chest on the looming choice for next BOJ governor, reiterating in Parliament he wants an "aggressive deflation-fighter" and a "respected and excellent person."
No easy euro-entry for the UK says EC official
Klaus Regling, director general for economic and financial affairs at the European Commission, said there would be no concessions for the UK to join the euro.
IMF role in Argentina to be investigated by panel
An International Monetary Fund panel will examine whether the IMF should have done more to prevent Argentina's economic collapse, the first time the independent board will review the fund's handling of a single country.
Bank of England Press Release
PRESS RELEASE - Bank of England Reduces Interest Rates by 0.25% to 3.75%, 6 February 2003.
Bank of England surprises with 0.25% rate cut
The Bank of England's Monetary Policy Committee surprised markets on Thursday with a quarter point interest rate cut to 3.75%.
European Central Bank Press Release
PRESS RELEASE - Monetary policy decisions, 6 February 2003.
France may introduce 'super-regulator'
On Wednesday the French government proposed a series of measures aimed at restoring confidence in the country's stock market, including the creation of a financial super-regulator and a tightening of controls over the accounting profession.
Trichet trial - Prosecution begin summing up case
On Wednesday the prosecution prepared to conclude their case in the trial of Jean-Claude Trichet, governor of the Bank of France, for his alleged role in covering up the true losses of Credit Lyonnais in the early 1990s.
Maharishi Yogi's cash legal, says Dutch bank
The Dutch central bank said on Tuesday that an organisation founded by Beatles guru Maharishi Mahesh Yogi had not violated the law by issuing and using its own currency in the Netherlands.
Ferguson: Can't predict war impact on economy
Federal Reserve Vice Chairman Roger Ferguson said on Wednesday it is very difficult to gauge how a potential war with Iraq would affect the U.S. economy.
ECB formally agrees change to vote system
The Governing Council of the European Central Bank (ECB) has formally agreed to change its voting system after new member-states join the euro zone.
Romanian central bank to switch reference to euro
The Board of the National Bank of Romania (BNR) has decided to set the reference exchange rate for the Romanian currency against the euro starting in March this year.
Venezuela brings in new foreign exchange controls
Venezuela has introduced a raft of new foreign currency controls under President Hugo Chavez in an attempt to ease the economic turmoil that has enveloped the country.
ECB Press Release
PRESS RELEASE - Governing Council formally recommends new voting system, 4 February.
Reserve Bank of Australia Press Release
PRESS RELEASE - At its meeting on 4 February the RBA Board decided to leave the cash rate target unchanged at 4.75 per cent, 5 February.
Chile central bank espionage case denied
Chilean financial group Inverlink denied in a written statement on Monday any responsibility for the alleged theft of sensitive central bank information by its former CEO Enzo Bertinelli.
Banque de France may cut jobs
The secretary-general of the French central bank (Banque de France) will present unions with the results of two reports into the bank's network of subsidiaries and the future of its clients on 7 February.
Romanian national bank reserves exceed $7.5bn
The international reserves of the National Bank of Romania (BNR) exceeded 7.5bn dollars (6.9bn euro) as of 31 January 2003, of which gold stood at 1.25bn dollars.
National Bank of Yugoslavia changes to Serbia
As the country of Yugoslavia becomes Serbia-Montenegro, the National Bank of Yugoslavia will become the National Bank of Serbia. Montenegro has already set up its own central bank but its responsibilities are mainly limited to bank supervision.