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Heikensten says slower wage growth needed

SWEDEN - Sweden's membership of European economic and monetary union will demand a higher government budget surplus and lower wage increases, Lars Heikensten, deputy governor of Sweden's central bank told Dagens Nyheter Sunday.

Israel unveils plan to limit central bank powers

ISRAEL - Israel's Finance Ministry unveiled legislation Sunday to rein in the power of the central bank, with a monetary council appointed by the finance minister and a widening of the bank's goals to include growth and employment targets.

BIS-Central bankers see world economy improving

SWITZERLAND - Top central bankers see the world economy's prospects more positive than they did two months ago and expect key interest rates to rise only once a more broad-based recovery has been firmly established, Bank of England Governor Sir Edward…

Regulating the City 'costs £1bn'

UK - The cost of regulating the City is at least £1bn and the benefits are completely unclear some months after the Financial Services Authority acquired its full powers, according to research.

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 am Main, 7 March.

BIS hits back over banking standards

GERMANY - Andrew Crockett, head of the Bank for International Settlements, has answered criticism of his plans for new global banking standards from Gerhard Schroder, German chancellor, by warning politicians not to interfere.

US finance chief backs steel moves

US - US Treasury Secretary Paul O'Neill has rejected suggestions from Europe that America's push to protect the domestic steel industry is simply a matter of treating the symptoms of an overvalued dollar.

Central bankers forged together over steel tariffs

US - ECB president Wim Duisenberg and Federal Reserve chairman Alan Greenspan both spoke yesterday of their disagreement with the US government's decision to impose tariffs on steel. US treasury secretary Paul O'Neill, however, came out in favour of the…

Argentina seeks to clear way for IMF deal

ARGENTINA - Argentina's Senate yesterday debated the country's 2002 budget a day ahead of schedule as part of efforts to unlock a big support package from the International Monetary Fund.

Papademos "very good" candidate for ECB vice head

GREECE - German Finance Minister Hans Eichel said Thursday that Greek Central Bank Governor Lucas Papademos was a "very good" candidate to succeed Christian Noyer as vice president of the European Central Bank, reports Dow Jones.

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