News
India's c bank set to open rep office in Dubai
UAE - State-owned State Bank of India (SBI) is planning to open a representative office in the UAE this year to tap the NRI resources, SBI chairman Janki Ballabh said.
Australia's Macfarlane moves Reserve goal posts
AUSTRALIA - The Reserve Bank of Australia governor advised the Australian Government against repayments of borrowed US dollars.
Investors in Belgian national bank head for courts
BELGIUM - Banque Nationale de Belgique (BNB) is likely to find itself taken to court by its minority investors, claims Financial News in London.
Argentina's Duhalde - Working to lift bk limits
ARGENTINA - Argentina is working to lift banking restrictions in the next three months, President Eduardo Duhalde said in a press conference Monday.
Bill seeks changes to central bank act
PHILIPPINES - A senator has filed before the Senate a measure that seeks to amend the charter governing the Bangko Sentral ng Pilipinas (BSP).
Pakistan's for ex reserves rise to US$ 5.1bn
PAKISTAN - Pakistan's total liquid foreign reserves registered an increase of US$ 40.7 million to $5.10 billion in March as compared to $5.06 billion on 23 February.
China's central bank chief unfazed by debt
CHINA - The governor of China's central bank, Dai Xianglong, acknowledged for the first time yesterday that national domestic debt is much higher than official yardsticks have so far indicated, but he said reform and economic growth would alleviate the…
ECB Press Release
PRESS RELEASE - Labour market mismatches in euro area countries, 11 March.
Swedish c banker joins inflation concern view
SWEDEN - Inflation in Sweden has been unexpectedly high lately, Swedish central bank Deputy Governor Lars Nyberg said on Monday, adding he shared the concern over the issue voiced by colleagues on the bank's board.
Reserve Bank of South Africa Media Release
MEDIA RELEASE - Commission of inquiry into the rapid depreciation of the exchange rate of the rand, 13 March.
Soros warns UK not to snub euro
UK - Billionaire investment guru George Soros has said that it is "impossible" for Britain to reject adoption of the euro.
UK shadow chancellor shifts on bank independence
UK - UK Chancellor Gordon Brown deserves "great credit" for his decision to give the Bank of England independence, Michael Howard has said.
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.
Iran's c bank chief dismisses embezzlement claims
IRAN - Governor of the Central Bank of Iran (CBI) has dismissed as "untrue" certain reports on embezzlement at CBI and said the claims are unfortunately raised by those who are unfamiliar with banking affairs.
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.
Banks shun online sales pitch
UK - Britain's banks and building societies are turning away from the web in their search for new customers.
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.
Zimbabwe election fears hit rand
SOUTH AFRICA - Less than a day ahead of Zimbabwe's bitterly contested presidential election, South Africa's currency is feeling the pinch.
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…
Swedish c bank chief says worried by inflation
SWEDEN - Sweden's central bank governor Urban Backstrom said on Thursday he shared the concern of many of his colleagues at the bank on inflation but said a rate rise should be postponed if an upturn was not certain.