News
RBA leaves rates unchanged as expected
The Reserve Bank of Australia (RBA) left interest rates unchanged Wednesday as the shaky global outlook overshadowed a reactively strong domestic economy. After its final meeting for 2002 the RBA left the cash rate at 4.75 per cent.
ECB's Duisenberg wins award after euro launch
An awards ceremony Tuesday gave ECB president Wim Duisenberg the title of "Business Leader of the Year" after the successful launch of the euro. There was also a somewhat tongue in cheek prize for Romano Prodi.
China central banker vows to tackle deflation
China's central bank chief vowed on Wednesday to focus on preventing deflation, a persistent economic scourge which some fear could spread to other Asian nations and undermine regional growth.
Potential to boost trade between Islamic states
A conference on Islamic banking and finance by the World Bank, is set to take place in Bahrain on 2 and 3 March 2003. The line-up of speakers includes three central bank governors and top officials from various regulatory authorities.
HKMA set for reshuffle as top executives leave
The Hong Kong Monetary Authority faces a management reshuffle with two deputy chief executives leaving next month and a third reportedly ready to go in March, officials said Wednesday. In a press release, which confirmed one of those to leave, Joseph Yam…
Central Bank of Sri Lanka signs RTGS deal
Logica announced Wednesday that it has signed a deal worth US$9 million to implement the Real Time Gross Settlement (RTGS) System and the Scripless Securities Settlement (SSS) System for the Central Bank of Sri Lanka (CBSL).
Hong Kong Monetary Authority Press Release
PRESS RELEASE - Departure of Mr Tony Latter and Mrs Marian Li, 3 December.
BOJ Suda - Need to watch impact of loan clean-up
As the Bank of Japan begins its stock purchase scheme Miyako Suda said in a speech that how bad loans are dispersed and the impact on the economy must be watched carefully.
Central Bank of Brazil COPOM Minutes
MINUTES - The Banco Central Do Brasil has published the minutes of the 78th meeting of the Monetary Policy Committee (COPOM), 19 and 20 November. The Committee decided unanimously to increase the Selic rate to 22% in light of increased inflation…
ECB chief says euro zone inflation risks falling
Duisenberg's comments on Tuesday, in testimony to the European parliament, seem to strengthen feeling that the ECB will cut interest rates when it meets on Thursday. The futures market seems certain of at least a quarter point cut with a fifty per cent…
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada keeps target for the overnight rate at 2 3/4 per cent, 3 December.
Bank of Canada leaves interest rates steady
Canada has bucked the global trend recently with interest rate hikes. The decision on Tuesday that the Bank will leave rates at the current 2.75 per cent comes after recent comments by David Dodge that an ease in economic growth over the next three…
Eichel insists Germany will lower deficit
The EU's Stability and Growth Pact received some much needed support with Germany's Finance Minister Hans Eichel on Tuesday insisting that Germany would ensure its budget deficit next year came in below 3pc of GDP.
Argentine government eases banking freeze
President Eduardo Duhalde eased a 1-year-old partial banking freeze on Monday, allowing Argentines unfettered access to their checking and savings accounts.
BOJ to start releasing data on stock buying policy
The Bank of Japan said on Tuesday it will begin periodically releasing data on its purchases of shares from banks, a move that could indicate the effectiveness of its efforts to stabilise the financial system. The Bank began its unprecedented policy on…
Financial Times comments on Central Banking
CentralBankNet was delighted to read that the Financial Times on Monday called our quarterly Central Banking journal the "must-read bible" of the worlds central bankers.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Executive Board meeting on 14 November 2002 released 29 November. The minutes reveal the Board voted unanimously to lower the repo rate by 0.25 to 4.0 per cent.
Takenaka proposal on bad loans faces scrutiny
With the timetable for measures aimed at addressing Japan's bad loan problem announced last Friday, Heizo Takenaka said the proposals would be rigorously implemented.
Laws of physics show market 'anti-bubble'
Researchers from the University of California have found that when statistical methods used in physics were applied to the markets they found an 'anti-bubble' the opposite of a speculative bubble.
Bundesbank may sell some of its gold
The Bundesbank may sell some of its US$35 billion of gold to buy more profitable assets, executive board member Hans-Helmut Kotz said. In April we reported that Bundesbank President Ernst Welteke said that the international agreement limiting gold sales…
Russian, Chinese to work against money laundering
During the current visit to Beijing by Russian President Vladimir Putin, the Central Bank of Russian (CBR) and the People's Bank of China have signed an agreement on cooperation in counteracting the laundering of criminally obtained incomes and the…
Report hints UK Treasury to reject 2003 euro entry
Gordon Brown has warned of the dangers of Britain accepting "rigid rules" to govern the economy, a move observers say further indicates the Treasury's intention to reject entry to the euro next year.
Claim Turkmen president staged attempt on his life
The saga of the attempted assassination on the Turkmenistan president continued over the weekend with former central bank chief Hudayberdi Orazow claiming Saparmyrat Nyyazow stage managed his own failed assassination.
Issing: ECB not satisfied with inflation rate
European Central Bank Chief Economist Otmar Issing Monday attempted to debunk talk of deflationary risks in the euro zone, indicating that stagflation is actually a bigger risk for the region. The ECB's Governing Council meets this week and is widely…