News
ECB's Papademos backs inflation target
Recent criticism that the European Central Bank's inflation target is too ambitious is unwarranted, ECB Vice President Lucas Papademos said on Monday. His comments appear to go against the proposed re-appraisal of the Bank's inflation target.
Belgium sees electronic banking on the rise
Some 12.5 billion Belgian francs have still not been exchanged for euros, nearly a year after the single currency was introduced, according to the latest report from the country's central bank Monday.
Ukraine's central bank head admitted to hospital
The head of the National Bank of Ukraine, Volodymyr Stelmakh, was admitted to the Feofaniya hospital (in Kiev) at about noon (1000 gmt) Tuesday, a news agency reported from the hospital director, Volodymyr Svyrydov.
Central bank pledges support for Saddam Hussain
At the end of the second conference for Iraqi banks on Monday the Governor of Iraq's central bank, Ossam Rashid Howash pledged his support for President Saddam Hussein.
Bank of Estonia prepares for ECB transfer system
The Bank of Estonia has launched preparations to accession to TARGET, the Trans-European Automated Real-time Gross settlement Express Transfer system of the European Central Bank.
Bank of Japan Press Release
PRESS RELEASE - Announcement of the Monetary Policy Meeting, 17 December.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 12 December released the minutes of its FOMC meeting of 6 November. The minutes reveal last months half-point interest rate cut was taken "to ensure that the current soft spot in the economy would prove to be temporary"…
Duisenberg wants to be succeeded by 'clone'
After the recent shake ups in central bank presidencies we now hear that ECB chief Wim Duisenberg has said a clone of himself would be the best choice to succeed him next year. Jean-Claude Trichet of France is the frontrunner.
Indian bank unveils first mobile ATM
ICICI Bank has taken technology one step further with the launch of its first mobile automated teller machine (ATM). The bank has got the Reserve Bank of India (RBI) approval for the mobile ATM in Punjab. "We have also applied for mobile branch licences…
Dollar at lowest level against euro since Jan 2000
The dollar plunged to its weakest level in almost three years against the euro and fell against the yen after a U.S. government report on declining producer prices raised concerns profit growth will slow.
Argentina confirms default of World Bank debt
Debt-ridden Argentina confirmed it has defaulted on its US$726 million payment due to the World Bank. The default was prompted by fears that payment could reduce central bank reserves to zero over the next few months.
BoJ needs deflation fighter: Koizumi
Japanese Prime Minister Junichiro Koizumi wants the replacement for Bank of Japan governor Masaru Hayami to focus on combating the economy's persistent deflation.
Baghdad puts out the welcome rug for banks
Iraq, under economic sanctions for 11 years and faced with the threat of attack by the US, is trying to attract foreign banks to the country. That's the message Issam Racheed Hwaish, governor of the Iraqi Central Bank, laid out at the weekend as he…
Brazil appoints new central bank chief
Luiz Inacio Lula da Silva, Brazil's leftwing president-elect, who takes office on January 1, on Thursday nominated experienced Harvard-trained banker, Henrique Meirelles, to head the central bank.
Friedman named as Bush's chief economic adviser
The White House on Thursday announced Stephen Friedman, the former chairman of Goldman Sachs, as chief economic adviser to president George W. Bush. He replaces Larry Lindsey who was a former Federal Reserve governor.
China seeks outside help to develop debt markets
China has contacted the World Bank and Asian Development Bank to gauge their attitude toward helping develop fledgling Chinese debt markets by launching the first renminbi-denominated bonds to be issued by a foreign institution.
Bank of Japan optimistic in Tankan report
The business outlook among Japanese companies improved in the October-December quarter, although that sentiment is not expected to last in months ahead, according to a central bank survey released Friday by the Bank of Japan.
No need to raise bank insurance cap - Fed's Olson
Federal Reserve Governor Mark Olson on Friday reiterated the U.S. central bank's opposition to raising the current $100,000 cap on insured bank deposits, saying such a move is not needed.
Minutes show Fed worried over deflation
The Federal Reserve cut interest rates last month as extra insurance against deflation and the chance that the economy's stumble this summer could become something worse, according to Fed meeting minutes released on Thursday.
Bank of Brazil, Focus Report
REPORT - Focus Report on Consumer Price Inflation in November, 11 December.
GCC central bank idea to figure in Dubai talks
The proposal to create a central bank representing all the Gulf Cooperation Council states will top the agenda of a major "GCC Banking Forum" to be organized in Dubai by the six Gulf states on 12 January 2003. The event will also address other key issues…
Iraqi central bank to hold conference
The 2nd banking conference organised by Central Bank Of Iraq will begin on Saturday and run for two days.
ECB cuts growth outlook, with ongoing uncertainty
The European Central Bank Thursday slashed its forecasts for growth in coming years, citing the "persistently high degree of uncertainty" as the main reason. The publication of the ECB's monthly report reveals more on the motivation for its recent half…
China needs to free up gold mkt - Gold Council
China needs to free up its gold market further to give locals an alternative form of investment, the World Gold Council has said. Recently CentralBankNet reported how the WGC had welcomed the successful launch of trading in physical gold on the new…