News
Floating ex affects competitiveness, says Franco
BRAZIL - Gustavo Franco, ex-president of BC (Brazilian Central Bank) said at a seminar Thursday in Sao Paulo, that the floating exchange now adopted by the federal administration may be a problem for Brazilian companies to keep competitive, and may…
G-7 finance deputies meet in London
UK - Deputy finance ministers of the Group of Seven industrial nations gathered here Thursday to decide on the topics for a meeting of G-7 finance ministers and central bank governors, to be held later this month.
Papademos has strong support for ECB job - Rato
SPAIN - Many euro zone finance ministers back Bank of Greece Governor Lucas Papademos to replace European Central Bank Vice President Christian Noyer, Spanish Economy Minister Rodrigo Rato said on Friday.
Israel sees no progress on central bank reform
ISRAEL - The Bank of Israel said Thursday that no significant progress had been made in reaching a compromise on the Finance Ministry's plan to amend the law governing the central bank.
Vietnam appoints two new c bank deputy governors
VIETNAM - Vietnam's Prime Minister Phan Van Khai has appointed Phung Khac Ke and Vu Thi Lien as deputy governors of the State Bank of Vietnam, a central bank official said Friday.
Bank of Japan Monetary Policy Meetings, 11 April
NEWS RELEASE - At the Monetary Policy Meeting held today, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period:
IMF pledge to help Argentina with economic reforms
ARGENTINA - The International Monetary Fund (IMF) said Wednesday that it was "firmly determined to help" Argentina, but conditioned an eventual financial bailout to President Eduardo Duhalde's progress in the execution of extensive economic reforms.
Argentina's former economy minister charged
ARGENTINA - Domingo Cavallo, Argentine economy minister till the country's debt crisis toppled four governments in a row in December, has been formally charged with arms smuggling.
Bank of England News Release
NEWS RELEASE - Appointments at the Bank of England, 4 April.
Philippines - Derivatives supervision tightened
PHILIPPINES - The Philippine Central Bank has tightened its supervision of the derivatives market by requiring the affiliates of all financial institutions to seek approval from the monetary authority before undertaking such transactions.
Race still on for ECB Vice President position
BELGIUM - Belgium said on Thursday it stuck to its candidate for the European Central Bank's vice-presidency, which vacates end-May, but added that it wanted a good chance for a next vacancy if a Belgian failed this time.
Israel approves Bill to redefine c bank powers
ISRAEL - Israeli ministers have approved a bill that would redefine the Bank of Israel's powers, but allowed the finance ministry and central bank time to propose changes to the bill to resolve continuing disagreements.
House votes to end banking ban
US - The Senate House has voted to end a 70-year-old ban on banks paying interest on business checking accounts.
ECB sees upturn but slower CPI decline
GERMANY - The European Central Bank on Thursday maintained its assessment that the euro zone economy was recovering but said high oil prices could lead to slightly higher inflation than predicted earlier this year.
Gold market calmer on Welteke reassurance
GERMANY - The gold market was reassured by the statement made by Bundesbank President Ernst Welteke on Thursday that the international agreement limiting gold sales by central banks was worth extending once it expired at the end of 2004 and that any…
Polish MPC member says gov't missed reform chance
POLAND - A member of Poland's ten strong Monetary Policy Council, Boguslaw Grabowski, has said that Poland's leftist government missed a great opportunity to make deep fiscal and structural reforms in the first months after taking power last October.
BofE uses Marks and Spencer to raise money supply
UK - A shortage of quality £5 notes, due to banks' reluctance to stock the relatively low value notes in ATM cashpoint machines, has led the Bank of England to turn to post offices and Marks and Spencer to distribute used fivers.
Norway central bank leaves key rates unchanged
NORWAY - Norges Bank, the Norwegian central bank, Wednesday left its key deposit rate unchanged at 6.50%, in line with market expectations.
Norges Bank's press conference of 10 April
PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board.
Norges Bank keeps interest rates unchanged
PRESS RELEASE - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 10 April. Norges Bank's key interest rate, the sight deposit rate, therefore remains at 6.50 per cent. The overnight lending rate also remains unchanged.
Japan cautioned by IMF on deflation fight
JAPAN - The International Monetary Fund Tuesday cautioned the Japanese Government not to slacken its efforts to combat deflation and structural problems, warning that additional steps were necessary to combat serious weaknesses in the world's second…
Supervision seminar to be hosted by c bank of Oman
OMAN - Hamoud bin Sanjoor al Zedjali, Executive President of the Central Bank of Oman (CBO), inaugurated at the CBO on Sunday a regional seminar on supervisory developments and practices in the banking sector.
Danish business expects Euro entry within 3 years
DENMARK - Danish managers expect Denmark to be join the euro by 2005 according to a poll by Green Analyseintitute carried out for the Danish business daily, Borsen.
Russian gov't seeks central bank draft law changes
RUSSIA - The Russian government will press for a revision of a number of amendments to the draft law on the Central Bank the State Duma (lower house) proposed Friday, Deputy Prime Minister and Finance Minister Aleksey Kudrin has said.