News
Brazil c bank sees 2003 inflation near 6 pct-COPOM
BRAZIL - Brazil's Central Bank sees 2003 inflation near its adjusted target of 6 percent, above its previous projection of about 5 percent, the minutes of its Oct. 22-23 rate-setting meeting reveal.
Czechs cut interest rates for fifth time this year
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates for the fifth time this year in a new attempt to stimulate faltering domestic economic growth and slow the rapid appreciation of the Czech koruna.
Fear over house prices prevented interest rate cut
UK - Fear of stoking the overheated housing market was one reason why the majority of the members of the Bank of England's rate-setting monetary policy committee decided against an interest rate reduction last month.
Koizumi set for back-seat role on bad loan reforms
JAPAN - Junichiro Koizumi, Japan's prime minister, yesterday suggested he would not play an active political role in implementing measures to clean up bad loans, saying he would leave the details to economic tsar Heizo Takenaka.
Central bank head says successor must be Bosnian
BOSNIA - The governor of the Bosnia-Herzegovina Central Bank (CB BiH), Peter Nicholl, on Friday confirmed to the SRNA news agency that he would step down as governor in 10 months and that the new governor, according to the current law, will have to be a…
Former Canada bank governor to head new watchdog
CANADA - Former Bank of Canada Governor Gordon Thiessen will head a new review panel created by Canadian regulators to monitor the auditors of public companies, the Ontario Securities Commission said Thursday.
Japan under pressure for more policy action
JAPAN - Pressure on Japanese policymakers to ease the deflationary burden on the economy mounted on Friday, as economists voiced doubts over the effectiveness of new reform plans and a top U.S. official called for more aggressive action.
Tokyo stocks fall more than 1 percent Thursday
JAPAN - Tokyo stocks fell more than 1 percent Thursday after a long awaited government economic package failed to impress investors, who sold select blue chip shares. The dollar slid against the yen.
Sri Lankan central bank bomber gets 200 years jail
SRI LANKA - The leader of the Tamil Tiger rebels Velupillai Prabhakaran has been sentenced to 200-years imprisonment today (Thursday) along with three other "LTTE cadres" by the Colombo High Court in connection with the attack on the Central Bank of Sri…
Eurozone inflation climbs to 2.2% in October
GERMANY - Inflation in the Eurozone continued to climb in October according to the estimate released on Thursday by Eurostat, the European Commission's Statistical Office.
Dollar tie-up won't affect currency says Kuwait
KUWAIT - Kuwait said yesterday a decision to link its currency fully to the dollar was not expected to weaken the dinar nor trigger inflation.
Bank Negara set to host IFSB seminar
MALAYSIA - Malaysia's central bank, Bank Negara Malaysia, is hosting a two-day seminar on Islamic Financial Services Board (IFSB) on 3-4 November in Kuala Lumpur.
Ex-tea boy heads for top RBZ post?
ZIMBABWE - Gideon Gono, the chief executive officer of the Commercial Bank of Zimbabwe (CBZ), looks set to become the governor of the central Reserve Bank of Zimbabwe (RBZ) shortly, it was established this week - says Zimbabwe's Financial Gazette.
Argentina: IMF deal mooted for Friday
ARGENTINA - A deal between Argentina and the IMF rescheduling US$14bn falling due to the multilateral agencies between now and the end of next year could be announced as soon as Friday of this week, according to a number of sources in Buenos Aires.
Cameroon c bank chief opens laundering meeting
CAMEROON - The Bank of Central African States [BEAC] governor, Jean Felix Mamalepot, has called for concerted efforts to intensify the fight against money laundering and the financing of terrorism - two dangerous phenomena in the world economy.
Thailand's credit card rate to be capped at 18%
THAILAND - Interest rates and charges for credit cards issued by both banks and non-banks should be capped at 18%, says Finance Minister Somkid Jatusripitak.
Yugoslav bank governor accuses Serbian PM
YUGOSLAVIA - Belgrade: "I consider the kind of statement made by [Serbian] Prime Minister [Zoran] Djindjic in respect of a change of the dinar exchange rate to be irresponsible and incompetent, Governor of the National Bank of Yugoslavia [NBJ] Mladjan…
10th Manila Framework Group meeting opens
ASIA - The 10th Finance and Central Bank Deputies' Meeting of the Manila Framework Group (MFG), chaired by Dato Paduka Hj Abdul Rahman Hj Ibrahim, Permanent Secretary at the Ministry of Finance, started Monday.
SBP describes economic growth rate as reasonable
PAKISTAN - The State Bank of Pakistan (SBP) has declared the 3.6 per cent growth of the economy as "reasonable" during fiscal 2001-02 due to various factors.
South Africa's Mboweni lashes out at the media
SOUTH AFRICA - Reserve Bank governor Tito Mboweni has once again expressed dissatisfaction with the manner the media reports his speeches. He even suggested that he had seriously considered stopping giving interviews and excluding wire services from his…
SARB Press Release
PRESS RELEASE - Governor clarifies reports - statement by the South African Reserve Bank, 23 October.
Yugoslav c banker expects 15% inflation this year
YUGOSLAVIA - Following the rise in petrol prices, the 2002 inflation will not exceed 15 per cent and will amount to about nine per cent in 2003, which is why Yugoslav National Bank (NBJ) will lower the obligatory bank reserves rate, Yugoslav National…
Norges Bank Press Release
PRESS RELEASE - Greater transparency in connection with interest rate decisions, 30 October.
Norges Bank Press Release
PRESS RELEASE - Norges Bank keeps interest rates unchanged, 30 October.