News
Report says single currency boosts trade
UK - The creation of the euro has boosted trade between eurozone countries significantly, according to new research, reinforcing the argument that the single currency has created a more genuine single market in Europe.
Japan coalition set to unveil economic package
JAPAN - Japan's ruling coalition parties, fuming over a lack of action by Prime Minister Junichiro Koizumi's administration to prop up the ailing economy, are due to unveil their own policy package later on Monday.
Arab Monetary Fund chief lauds Lebanon, Egypt
LEBANON - Lebanon and Egypt represent a role model for other Arab countries in fighting money laundering and terror finance, the Arab Monetary Fund chief said Monday.
Rakesh Mohan takes over as RBI deputy governor
INDIA - India's former chief economic adviser, Rakesh Mohan, on Monday took over as a deputy governor of the Reserve Bank of India (RBI).
BIS-Central bankers see economy picking up in 2003
SWITZERLAND - Top central bankers expect the world economy to pick up speed next year after turmoil in financial markets has weighed on growth prospects this year, Bank of England Governor Sir Edward George said on Monday.
Minehan: U.S recovering despite bumps
US - Federal Reserve Bank of Boston President Cathy Minehan said on Monday that the U.S. economy is recovering gradually although it has hit a few "bumps in the road."
Global forex settlement system launched
US - The $2,000bn a day foreign exchange market, the world's biggest by far, today introduces the first ever global settlement system, the result of more than five years of talks between central banks and market participants.
Financial Stability Forum Press Release
PRESS RELEASE - FSF reviews vulnerabilities and efforts to strengthen the international financial system, 4 September. The Financial Stability Forum (FSF), chaired by Andrew Crockett, General Manager, Bank for International Settlements, met on 3-4…
Rethinking Stabilization Policy
PROCEEDINGS - Preliminary proceedings from the 2002 annual economic symposium, "Rethinking Stabilization Policy," from the Federal Reserve Bank of Kansas City. The symposium provided a forum to discuss the roles of monetary and fiscal stabilization…
IMF Press Release
PRESS RELEASE - IMF Extends Argentina's SRF Repayment by One Year, 5 September.
Sveriges Riksbank Press Release
PRESS RELEASE - Nyberg: Developments in line with assessments, 5 September.
EU Commission trims euro-zone growth prospects
BELGIUM - The EU Commission cut on Friday - for the second time in a month - its forecast for third quarter euro-zone growth, aiming now for 0.3-0.6 percent because of signs of weakness from Germany, France and Italy.
Fed's McTeer - US stock falls hold back growth
US - In Dallas, Federal Reserve Bank of Dallas President Robert McTeer said the decline in U.S. stocks this year is restraining the economy's recovery and limiting job growth.
ECB leader Sirkka Hamalainen criticises banks
FINLAND - Sirkka Hamalainen, a member of the Executive Board of the European Central Bank and the former Governor of the Bank of Finland, criticised banks and national authorities in the euro zone for hindering integration in financial markets.
OECD backs Norway's central bank policy
NORWAY - The Organization of Economic Cooperation and Development (OECD) urged Norway on Friday to resist the temptation of spending any more of its vast oil revenues and leave interest rates high to keep inflation in check.
IMF mission in Peru studying 2002 goals
PERU - A mission from the International Monetary Fund (IMF) is in Peru to evaluate the Andean nation's 2002 macroeconomic goals, the economy ministry said on Friday.
Chile keeps key rates on hold at 3 percent
CHILE - Chile's central bank said on Thursday it had kept key interest rates on hold at an all-time low of 3.00 percent at a meeting of its monetary policy committee.
IMF confirms delay of Argentina loan payment
US - The International Monetary Fund on Thursday delayed for one year a $2.8 billion Argentina loan payment, saying the situation there remains "very difficult" and repeating what policies are needed before aid can be restarted.
Central bank supervisory role to grow in Thailand
THAILAND - Planned legal changes in financial sector supervision will give the Bank of Thailand increased authority over bank subsidiaries and credit card issuers.
IMF News Brief
NEWS BRIEF - IMF Managing Director Welcomes Afghanistan's New Currency, 4 September.
Offshore Financial Centers
REPORT - The Assessment Program: An Information Note, Prepared by the Monetary and Exchange Affairs Department, IMF, 29 August.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 5 September.
Argentina - IMF send draft intent letter next week
ARGENTINA - The IMF is to send Argentina a draft letter of intent next week to agree terms for aid to the recession-wracked nation , Cabinet Chief Alfredo Atanasof said on Thursday just as aid hopes had appeared to fade.
BoE keeps rates on hold
UK - The Bank of England left interest rates unchanged on Thursday, as widely expected, amid concerns over a weak economic recovery and continuing volatility in stock markets.