News
Reform of EU securities rules moves a step closer
EUROPE - The European parliament yesterday took a decisive step towards acceptance of the Lamfalussy plan for speeding the reform of European Union securities market regulation.
Afghan banker picks up pieces of a ruined system
FEATURE - Abdul Qadir Fitrat, possibly the world's youngest central bank governor at 38, has just taken up perhaps the world's most hair-raising central bank challenge - restoring Afghanistan's ruined financial system.
Fed's Moskow says sees no U.S. deflation threat
US - Chicago Federal Reserve President Michael Moskow said on Friday that he did not see a near-term threat to the U.S. economy from deflation, although prices for some goods have been declining.
Bank of England official: 'Leave pound alone'
UK - A senior Bank of England official has warned against artificially reducing the value of the pound.
US comments push down on yen
US - Mixed messages from the US administration have helped Japan's currency touch new lows.
Basel Committee on Banking Supervision
PRESS RELEASE - New Basel Committee paper explores roles of auditors and bank supervisors, 21 January 2002.
Slovak FinMin Schmognerova sacked by her SDL party
SLOVAKIA - The Slovak ruling coalition SDL party said on Monday it would replace a key government reformist, Finance Minister Brigita Schmognerova, with a little-known central bank economist, Frantisek Hajnovic.
Argentina rush to contain rage over bank deposits
ARGENTINA - Argentina's new government rushed on Monday to soothe public rage over its decision to drastically reduce the dollar value of bank deposits, saying it was studying measures to ease the pain.
CBR hopes to prevent central bank law amendments
RUSSIA - The Central Bank of Russia will make every effort to prevent amendments to the law on the Central Bank, approved by State Duma profile committees, from being passed by the Duma in a second reading.
Gerashchenko may stay in office for another term
RUSSIA - Viktor Gerashchenko is ready to head the Central Bank of Russia for another term in office. He announced this position talking with reporters.
Argentina to ban purchase of dollars with cheques
ARGENTINA - Central Bank Director Aldo Pignanelli said that the bank will not be allowed from tomorrow to accept payment by cheque for the dollars they sell.
Greenspan O'Neill to testify on financial literacy
US - Federal Reserve Chairman Alan Greenspan, Treasury Secretary Paul O'Neill, and Securities and Exchange Commission Chairman Harvey Pitt will testify in Congress early next month on efforts to promote financial literacy, the Senate Banking Committee…
Gramlich - Survey influenced new loan measures
US - Recent updates to the Federal Reserve's anti-predatory lending regulations tried to target especially harmful practices, rather than subprime lending in general, Federal Reserve Governor Edward Gramlich said Friday.
Broaddus - Fed moves significant and help recovery
US - Richmond Federal Reserve Bank President Alfred Broaddus said Friday the Fed's policy moves to date have been "significant" and will help with the economic recovery.
Bank of Japan Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan, Monetary Policy Meeting on 18, 19 December 2001.
Bank of Japan Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan, Monetary Policy Meeting on 29 November 2001.
Government seeks new amendment on BI law
INDONESIA - The government has resumed talks with legislators on the long suspended amendment of the central bank law, expanding the scope of discussion from Bank Indonesia's accountability to the entire law if need be, a legislator said.
Pakistan to establish forex reserves system
PAKISTAN - The State Bank of Pakistan (SBP) is putting in place a forex reserves management system (FRMS) in order to earn maximum return for the country.
Urdu version of Pakistan Governor's book launched
PAKISTAN - Translated edition of the book, "Pakistan-The Economy of an Elitist State", written by the Governor State Bank of Pakistan, Dr Ishrat Hussain, was formally inaugurated on Friday at a local hotel.
IMF: Argentina may spark inflation with note print
ARGENTINA - IMF Deputy Managing Director Anne Krueger said that the Argentine authorities may spark inflation if they start printing money, and thus neutralise any other economic measure taken to overcome the country's financial crisis.
Argentines angry at peso conversion
ARGENTINA - Argentines have reacted with hostility to the government's announcement that all US dollar bank accounts will be turned into the local currency, the peso.
UK Tory chief: Euro tests are 'rubbish'
UK - United Kingdom Conservative Party leader Iain Duncan Smith has called on Tony Blair to hold an early referendum on the UK adopting the European single currency.
ECB Press Release
PRESS RELEASE - Update on the euro cash changeover, 18 January 2002.
Fed's Parry: US recovery could happen in Q1 2002
US - San Francisco Federal Reserve President Robert Parry said on Wednesday that he expects the U.S. economy to be growing again by the second quarter of this year, and possibly earlier.