News
Norges Bank Press Release
PRESS RELEASE - Norges Bank keeps interest rates unchanged, 30 October.
Bank of Japan Press Release
PRESS RELEASE - Change in the Guideline for Money Market Operations, 30 October.
UK Minister admits damage of not being in euro
UK - Staying out of the euro has hit foreign investment in Britain, Patricia Hewitt the trade and industry secretary admitted yesterday as she vowed that the government would move "speedily and decisively" to a referendum if the five economic tests were…
IMF wants euro 'big 3' to tighten fiscal policy
US - The International Monetary Fund has weighed into the debate over the eurozone's stability and growth pact (SGP), arguing that the big three countries - Germany, France and Italy - should heed its message and make a concerted effort to tighten fiscal…
Central bank cuts India growth forecast
INDIA - The Reserve Bank of India, the central bank, on Tuesday cut its forecast for economic growth by one percentage point to 5-5.5 per cent, citing the impact of a devastating drought and weak industrial activity.
Bank of Japan eases monetary policy further
JAPAN - The Bank of Japan on Wednesday unanimously decided to further ease its monetary policy for the first time in eight months, in a bid to complement the government's "anti-deflation" package, also released today.
Japan shies away from radical banking reform
JAPAN - The government of Junichiro Koizumi, Japan's prime minister, on Wednesday night backed away from imminent action to clean up the financial system after pressure to water down proposals from bankers and from the ruling Liberal Democratic party.
Trichet ordered to appear at trial in new year
FRANCE - The French trial for misleading accounting at the Credit Lyonnais Bank, at which Central Bank governor Mr Jean-Claude Trichet has been ordered to appear, has been scheduled for January 2003 in Paris.
Euro may boost Hungary growth report shows
HUNGARY - Joining the euro could boost economic growth in Hungary by between 0.6 to 0.9 percentage points annually for 20 years, according to a report published yesterday by the National Bank of Hungary, the central bank.
Swiss-'Give central bank gold reserves to schools'
SWITZERLAND - Non-governmental groups in Switzerland have called for more funds to boost schools and research. They even make the audacious suggestion that Swiss National Bank reserves could be used as part of these funds.
GCC countries working towards unified currency
UAE - The GCC countries have been working towards achieving a unified currency which is expected to be adopted on 1 January 2010, said Sultan bin Nasser Al Suwaidi, UAE Central Bank Governor on Saturday.
Yugoslav c banker attends conference in Dubrovnik
YUGOSLAVIA - Governor of Yugoslavia's Central Bank Mladjan Dinkic sets off to Dubrovnik today to attend the second regional conference on finances and investments in southeast Europe.
Argentina races to get IMF deal before new default
ARGENTINA - Argentine officials arrived in Washington on Monday to try to break the latest impasse in aid talks with the IMF as a potentially disastrous new debt default loomed less than two weeks away.
Brazil - New c bank head may be chosen by year-end
BRAZIL - The name of the new central bank governor may be sent to congress for approval before the end of the year, to end uncertainty on the markets, the 'Estado de Sao Paulo' reports.
Don't use stability pact as scapegoat, says Issing
GERMANY - The chief economist of the European Central Bank launched a staunch defence of the euro area fiscal stability and growth pact on Monday, accusing politicians of using it as a "scapegoat" for their own failures.
Kuwaiti dinar will be pegged to dollar
KUWAIT - Kuwait's national currency will be pegged to the US dollar starting 1 January, officials said on Monday.
IMF News Brief
NEWS BRIEF - IMF Managing Director Kohler Congratulates Brazil's President-Elect, 28 October.
IMF Press Briefing
PRESS BRIEFING - Press Briefing by Thomas Dawson, Director, External Relations Department, International Monetary Fund, Washington, D.C., 24 October 2002.
Michel Camdessus responds to Joseph Stiglitz
COMMENTARY - A Commentary by Michel Camdessus, Honorary Governor of the Bank of France, 24 October.
MAS Press Release
PRESS RELEASE - The Monetary Authority of Singapore (MAS) announced that it would formalise guidelines governing industry and public consultation and implementation of MAS-administered legislation, 22 October.
Takenaka woos banks over his reform plans
JAPAN - Heizo Takenaka, Japan's economics and financial services minister, continued a frantic round of diplomacy yesterday as he sought to secure the backing of bankers and politicians for his plan to revive the financial sector before its release this…
Japan's Takenaka starts diplomatic offensive
JAPAN - Heizo Takenaka, Japan's economics and financial services minister, continued a frantic round of diplomacy on Monday as he sought to secure the backing of bankers and politicians for his plan to revive the financial sector ahead of its release…
UK industry shows sharp rise in support for euro
UK - Enthusiasm for the euro has risen sharply among Britain's manufacturers in the past 18 months, judging by a survey released on Monday.
Brazil's central bank president want independence
BRAZIL - The autonomy of the Central Bank in the future Brazilian administration was defended by the bank's current president, Arminio Fraga, and by a former one, Gustavo Franco, in Rio de Janeiro.