News
Good news for c bank but weaknesses continue
FEATURE - The Central Bank had quite a good day on 3 April, managing to hold the dollar down to 2.8 pesos but also increasing its reserves by 4m dollars.
Duma approves c bank management structure changes
RUSSIA - The State Duma, in debates on amendments to the Central Bank law in the second reading on Friday, voted to give the National Banking Council the powers of a management body at the Central Bank.
Russia's banks face 'health check'
RUSSIA - An inspection team from the International Monetary Fund (IMF) and the World Bank start work in Moscow on Wednesday on what is described as a "comprehensive health check-up" of Russia's shaky financial sector.
Bank of England leaves key lending rate at 4.0 pct
UK - The Bank of England's Monetary Policy Committee on Thursday left its key lending rate unchanged at 4.0 percent for the fifth month in a row despite signs Europe's second biggest economy is recovering.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 4 April.
ECB holds key interest rate unchanged at 3.25 pct
GERMANY - The European Central Bank left interest rates unchanged on Thursday, reinforcing expectations its easing cycle had ended with the euro zone economy now on track to recovery.
ECB Press Conference
PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Frankfurt, 4 April.
ECB Press Release
PRESS RELEASE - Monetary Policy Decisions, 4 April.
Credit card holders set to rise if BOT eases rule
THAILAND - The number of credit card holders is expected to increase significantly if the Bank of Thailand agrees to decrease the minimum monthly salary required to be a card member from 15,000 to 10,000 baht, according to executives in the banking…
US Judge dismisses claims against BIS, Fed Reserve
US - A federal judge in Boston has dismissed claims of price manipulation a consultant to the Gold Antitrust Action Committee made against the Bank of International Settlements, several leading investment houses and officials of the U.S. Treasury and…
New Solomon Islands minister reverses devaluation
SOLOMON ISLANDS - The new minister of finance, Laurie Chan, has revoked the 25 per cent devaluation of the Solomon Islands dollar announced by now sacked Finance Minister Michael Maina on 26 March.
Current crisis is nothing new to Argentina
LETTER - Letter from Professor Steve Hanke published in the US edition of the Financial Times, 4 April.
Aus PM welcomes RBA decision not to raise rates
AUSTRALIA - Prime Minister John Howard has welcomed the Reserve Bank of Australia's decision not to increase interest rates at its meeting today.
Japan prices to keep falling gradually - Hayami
JAPAN - Bank of Japan (BOJ) Governor Masaru Hayami said on Thursday he expected prices to continue to fall gradually as the economy deteriorated further although pressure from weak exports and excess inventories was easing.
Japan Lower House approves new BOJ board members
JAPAN - Japan's powerful Lower House of parliament on Thursday approved the appointment of two businessmen to the Bank of Japan's (BOJ) policy-setting board, to replace members whose terms expired at the end of March.
China updates rules for bank's risk management
CHINA - China's central bank has updated guidelines on internal risk management in an attempt to further coax commercial banks into reducing credit risk.
Gov't demand changes in law on Nat Bank of Georgia
GEORGIA - Ministry of State Security of Georgia demands entering changes to law on National Bank of Georgia to study "doubtful bank enumerations".
Zimbabwe's c bank calls for debt issue discussion
ZIMBABWE - The Reserve Bank of Zimbabwe (RBZ), the country's central bank, has urged the government to intensify efforts to shift debt towards longer term securities to address the huge debt service burden, according to the Zimbabwe Inter-Africa News…
Yugoslavia readies forex law ahead of new IMF deal
YUGOSLAVIA - Yugoslavia said on Wednesday it would fully liberalise the exchange rate regime for its dinar currency and scrap floating ranges to help secure a new three-year loan from the International Monetary Fund (IMF).
McDonough - Argentina must find its own solutions
ARGENTINA - The solutions to Argentina's current economic crisis must be found mostly by the country's own leaders, rather than through bailouts from outside the troubled nation, Federal Reserve Bank of New York President William McDonough said Tuesday.
Kazakh c bank says expects rating upgrade
KAZAKHSTAN - Kazakhstan's central bank said on Wednesday it expected the country's sovereign credit rating to be upgraded this year and to reach investment rating level next year, paving the way for large scale portfolio investment, reports Reuters.
Bangladesh considering floating the taka - c bank
BANGLADESH - Bangladesh central bank governor Fakhruddin Ahmed said on Wednesday his country might consider floating the taka currency in an effort to further deregulate the money market.
Australia's RBA leaves rates unchanged at 4.25 pct
AUSTRALIA - The Reserve Bank of Australia Wednesday left interest rates unchanged following its April board meeting, despite expectations in some circles that it would begin the tightening cycle.
Boost for Germany's financial role
GERMANY - Recent reforms to modernise regulation of Germany's financial markets are likely to strengthen the country's position as an international financial centre, even though the government had to compromise on its proposals.