News
IMF calls for boost to global confidence
US - International Monetary Fund Managing Director Horst Koehler said on Thursday that global growth had been hurt by financial market uncertainty and called on world financial leaders to do their bit to restore calm.
Swiss central bank to sell 283T of gold
SWITZERLAND - The Swiss National Bank (SNB) plans to sell a further 283 tons of gold by the end of September 2003 under its plan to dispose of 1 300 tons of unneeded reserves, the central bank said on Thursday.
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 24 September.
Argentina threatens loan default
ARGENTINA - Argentina has raised the pressure on international lenders to agree a new cash lifeline, threatening default if extra money is not forthcoming.
IMF report sees global economy recovering
US - Although downside risks are rising, the global economy is slowly recovering from a worldwide recession, the International Monetary Fund said Wednesday.
CBR to introduce for ex swap deals on 26 Sept
RUSSIA - The Central Bank of Russia is introducing on 26 September an additional instrument to the bank refinancing system based on the use of foreign currency swap deals.
Poland's central bank cuts rates
POLAND - Poland's central bank on Wednesday reduced its key interest rates by a half percentage point, making its sixth cut this year against the backdrop of a sluggish economy and falling inflation.
RBI liberalises exchange control procedures
INDIA - The Reserve Bank of India on Wednesday said banks authorised to deal in foreign exchange may permit importers in India to avail short-term credit for periods less than three years and amount not in excess of $20 million per import transaction…
Central Bank of Iceland Governor resigns
ICELAND - Central Bank of Iceland Governor Finnur Ingolfsson has been appointed Chief Executive Officer of the insurance company VS Ltd and has resigned as Governor of the Central Bank of Iceland.
Ireland's central bank launches insurance guide
IRELAND - A new information leaflet for consumers about buying investment and insurance products was launched by the Irish central bank on Tuesday.
Polish gov't freezes top state officials salaries
POLAND - The government decided to freeze salaries of top state officials in 2003, government spokesman Michal Tober told a news conference on Tuesday. The freeze includes all senior central bank staff.
Fed holds rates steady but with rare split vote
US - The Federal Reserve on Tuesday held interest rates steady despite a hesitant economic recovery and worries about a possible war with Iraq. In an unusual move the meeting saw dissent, with two members calling for a rate reduction. This was the first…
JGBs up as BoJ buying prompts short-covering
JAPAN - Japanese government bonds rebounded on Tuesday amid bargain-hunting following last week's tumble and as sentiment improved following a successful bond-buying operation by the central bank.
Germany 'at risk of breaching deficit limit'
GERMANY - The Bundesbank yesterday warned that Germany was at risk of breaching the European Union's 3 per cent deficit limit this year and cast doubt on its chances of balancing its budget by 2004.
Thai central bank puts loans case to Basel panel
THAILAND - The Bank of Thailand has asked member countries of BIS Basel Committee to curtail loans to hedge funds, according to Thirachai Phuvanatnaranubala, the central bank's deputy governor overseeing stability of financial institutions.
India's central bank opens note exchange centres
INDIA - The Reserve Bank of India has opened centres for the exchange of soiled notes at its three branches in Mumbai.
Bank of Albania brief gov't on money launder fight
ALBANIA - Bank of Albania governor Shkelqim Cani reported in a hearing session in parliament on 23 September, evening, on measures undertaken from the Central Bank, concerning the war on money laundering, as one of the most important means of the war on…
Poverty too high says head of Trinidad's c bank
TRINIDAD - The governor of the Central Bank of Trinidad and Tobago, Ewart Williams, says while the country has experienced economic growth over the last eight years, not enough had been done to improve the quality of life for its citizens.
Payments operation to start in Serbia, Montenegro
YUGOSLAVIA - Yugoslav National Bank Governor Mladjan Dinkic has announced setting up of the payments operations system between Serbia and Montenegro soon.
MAS issues new risk-based capital requirements
SINGAPORE - With effect from 1 October 2002, holders of Capital Markets Services (CMS) licences will be subject to new risk-based capital requirements under a subsidiary legislation of the Securities and Futures Act 2001.
UK Treasury Press Release
PRESS RELEASE - Chancellor and Sir Edward George pledge more money for Commonwealth Education Fund, 24 September. Chancellor Gordon Brown, and Governor of the Bank of England Sir Edward George, today announced the auction of low-numbered £5 banknotes,…
Policy issues for central banks in retail payments
REPORT - This consultative report published 18 September explores policy issues for central banks that arise from current trends in retail payments markets. It puts forward four public policy goals for maintaining and promoting efficiency and safety in…
12th Int'l Conference of Banking Supervisors
PRESS RELEASE - Representatives of about 150 banking supervisory authorities from nearly 120 countries met in Cape Town on 18 and 19 September 2002. They were participating in the 12th International Conference of Banking Supervisors (ICBS) held at the…
Mexico central bank set to shore up currency
MEXICO - The Mexican central bank is expected to tighten monetary policy on Monday to shore up support for the peso, which fell 3.5 per cent last week.