News
Fed adds $5 billion reserves through 28-day repos
US - The Federal Reserve said on Thursday it added $5.0 billion in temporary reserves to the banking system through the purchases of 28-day fixed system repurchase agreements.
Argentina postpones currency trading
ARGENTINA - Argentina's central bank has suspended the country's foreign exchange markets until Thursday, claiming it needs more time to work out currency trading rules following the abolition of the one-to-one peso-dollar link last weekend.
Euro used for 75% of payments
EUROPE - The euro is now being used for nearly three quarters of cash payments in the 12-nation single currency zone, according to the European Commission.
Thailand central bank appointments confirmed
THAILAND - As revealed by us on Tuesday the Thai cabinet yesterday approved the appointment of two new Bank of Thailand deputy governors.
Fed Ferguson - Timing of recovery still uncertain
US - US Federal Reserve Vice Chairman Roger Ferguson said US data had moved to be more mixed than negative but it was too early to pinpoint the timing of an economic recovery.
Federal Reserve Press Release
PRESS RELEASE - 3 January 2002. Susan Schmidt Bies and Mark W. Olson were formally sworn in as members of the Board of Governors of the Federal Reserve System at a ceremony Thursday in the atrium of the Board's main building in Washington.
Ukraine's monetary policy will toughen in 2002
UKRAINE - Chairman of the board of governors of the National Bank of Ukraine Anatoly Halchynsky warned on 4 January against overly optimism with regard to the 6.1% inflation rate for 2001, stressing that, given the present conditions in Ukraine, the NBU…
Ireland's euro transition outpaces EU
IRELAND - Ireland is outpacing other euro-zone countries in the euro changeover with the number of Irish pounds in circulation falling almost twice as fast as other national currencies, reports an Irish newspaper.
BSP officials fined for 'unprofessionalism'
PHILIPPINES - The Court of Appeals has fined two officials of the Bangko Sentral ng Pilipinas and a bank examiner for their "unprofessional" handling of a case involving the Rural Bank of San Miguel (RBSM).
ECB Press Release
PRESS RELEASE - Update on the euro cash changeover, 9 January 2002.
ECB Press Release
PRESS RELEASE - Update on the euro cash changeover, 8 January 2002.
Canada economy on track for recovery - BOC's Dodge
CANADA - Bank of Canada Governor David Dodge said on Saturday he still expects the Canadian economy to improve by the second half of 2002.
IMF begins mission to Argentina
ARGENTINA - An International Monetary Fund (IMF) mission is in Argentina to gather information about the debt-ridden country's new economic policies.
A second deputy governor of BOT to resign
THAILAND - The Bank of Thailand (BOT) has suffered a major blow following the resignations of two deputy governors who were accused and later cleared of charges of being involved in a 1.7 billion baht ($71.4 million) fraud committed by the defunct firm,…
Central bank chief picked Oracle of the Year
LITHUANIA - Reinoldijus Sarkinas, chairman of the board of the central Bank of Lithuania, has been named the Oracle of the Year by the business newspaper Verslo Zinios, as his forecasts on 2001 macroeconomic indicators were closest to the truth.
New euros brings old coin windfall for beggars
GERMANY - The euro's launch may be causing headaches for cashiers and heartache for nationalists around Europe, but the single currency has dumped windfall profits into the laps of an unsuspecting group: beggars.
Latvia appoints Rimsevics as new c bank head
LATVIA - The Latvian parliament has appointed Ilmars Rimsevics as Bank of Latvia president.
South Africa restructures policy committee
SOUTH AFRICA - South Africa's Monetary Policy Committee (MPC), which oversees the country's financial policies, has been restructured and will meet four times this year, the South African Reserve Bank (SARB) announced on Tuesday.
Names of two new Thai Deputy Governors chosen
THAILAND - Sources close to CentralBankNet at the Bank of Thailand have told us that the two replacement Deputy Governors at the Bank of Thailand were decided at a meeting on Monday. No press statement or news story has been released and we cannot…
Joint Press Conference on the euro introduction
PRESS CONFERENCE - Joint press conference given by the EU Presidency, the European Central Bank, and the European Commission on the introduction of the euro banknotes and coins, Frankfurt am Main, 3 January 2002.
ECB Press Conference
PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Frankfurt am Main, 3 January 2002.
ECB Press Release
PRESS RELEASE - Update on the euro cash changeover, 7 January 2002.
Cautious reaction to peso devaluation
ARGENTINA - The Argentine people have reacted cautiously to their new government's decision to devalue the peso and end 10 years of parity with the US dollar in a dramatic bid to save the collapsing economy.
Japan seeks support for bank rescue
JAPAN - Japanese finance minister Heizo Takenaka is on his way to Washington in a bid to enlist US support for bailing out Japan's top banks, many of which are burdened by a mountain of bad debt.