News
Russian c bank adopts looser rules for for ex sale
RUSSIA - At its session on Friday, the Russian Central Bank's board of directors agreed to liberalise the obligatory sale of foreign currency revenues by exporters, the bank's PR department reported.
Bank Italia to out source some activities
ITALY - Italian central bank Bank Italia has decided to authorise the outsourcing of over-the-counter banking activities. Banks may use their own branches or call in outside firms specialising in call centre management.
Spanish yet to return 2.4bn euros worth of pesetas
SPAIN - 2.4bn euros in notes and coins is yet to be changed into euros, according to Spain's central bank.
South African Reserve Bank Media Release
MEDIA RELEASE - Mr Tito Mboweni, the South African Reserve Bank Governor, launches the Johannesburg World Summit Coin series, 22 August.
CentralBankNet will resume normal service Tuesday
Monday 26 August is a bank holiday in the UK.
CentralBankNet will resume normal service Tuesday
Monday 26 August is a bank holiday in the UK.
RBA's Edey Confidence crisis no threat to recovery
AUSTRALIA - Fears that the global economic recovery has stalled have been overplayed, with Japan, the rest of Asia, and the United States growing steadily despite the crisis of confidence in stockmarkets, the Reserve Bank said yesterday.
Union threatens Bank of Spain over branch closure
SPAIN - UGT, the Spanish union, has threatened to take the Bank of Spain to court and sue over the plan to close 30 branches of the central bank.
Yugoslav bank chief rejects Montenegrin proposal
YUGOSLAVIA - Yugoslav National (central) Bank (NBY) Governor Mladjan Dinkic said on Wednesday that the proposal by the Montenegrin central bank governor regarding payments operations with Serbia was a step backwards from the earlier NBY proposal for…
Central bank reports Venezuelan economy shrinking
VENEZUELA - Venezuela's economy contracted 9.9 percent in the second quarter compared with a year earlier, as a slide in its vital oil production eroded growth, according to the central bank.
SA Reserve Bank launches Summit memorial coins
SOUTH AFRICA - Reserve Bank governor Tito Mboweni has launched a coin series to commemorate the upcoming World Summit on Sustainable Development (WSSD).
RBI to use post offices for coin distribution
INDIA - The Reserve Bank of India is planning to distribute coins in exchange of currency notes through post offices and even railway counters, the Hindu newspaper reports. The decision is part of its efforts to bridge the gap between excess demand from…
African regional currency may take off in 2004
NIGERIA - The proposed West African Monetary Zone that would pave room for a single currency for the sub-region may take-off in 2004, Information and National Orientation Minister, Professor Jerry Gana disclosed in Abuja Thursday.
Paul Volcker a favourite for new accounting board
US - Paul Volcker, the former chairman of the Federal Reserve, has emerged as one of the front-runners to lead the new accounting oversight board created by the recently passed corporate reform bill, a government source confirmed with CNN on Friday.
Reserve Bank of New Zealand News Release
NEWS RELEASE - The Secretary to the Treasury, Dr Alan Bollard, is to be appointed the next Reserve Bank Governor, Finance Minister Michael Cullen announced today, 22 Aug.
Treasury Secretary appointed new governor at RBNZ
NEW ZEALAND - The long wait for a replacement to Donald Brash is over as Treasury Secretary Dr Alan Bollard was appointed New Zealand's new Reserve Bank Governor on Thursday.
South Korean economy grows but pace slows
SOUTH KOREA - South Korea's economy grew 1.4 percent in the second quarter, down from a 1.9 percent rise in the previous three months, as growth in consumer spending and construction slowed, the central bank said on Thursday.
San Francisco Fed's Parry: Rate policy appropriate
US - San Francisco Federal Reserve Bank President Robert Parry said on Wednesday the current level of U.S. interest rates is "appropriate" and stimulative for the economy, which is in a modest expansion.
Philadelphia Fed survey shows factory growth slows
US - U.S. factory growth appears to have stalled, stirring speculation the Federal Reserve may cut interest rates in coming months to ward off a second recession if the weakness spreads.
China plans crackdown on capital flight
CHINA - China plans a concerted effort to stop its officials spiriting state funds abroad through an expanding repertoire of illegal activity, officials have said.
Thai central bank chief upbeat about progress
THAILAND - The managed float of the baht and inflation-targeting system are appropriate for setting monetary policy in current economic circumstances, according to M.R. Pridiyathorn Devakula, governor of the Bank of Thailand, reports the Bangkok Post.
Brazil c bank holds rates with a downward bias
BRAZIL - Brazil's central bank held its benchmark interest rate unchanged at 18 percent on Wednesday as financial turmoil ahead of October presidential elections continued to batter the currency and fan inflation.
Russian gold, fx reserves increase to new record
RUSSIA - Russia's gold and foreign exchange reserves on 9-16 August were up by 600m dollars to 44.7bn dollars, Prime-TASS said on Thursday with reference to the Central Bank public relations department.
Russia and China's central banks sign joint accord
RUSSIA - The Central Bank of Russia and the People's Bank of China on Thursday signed an accord on inter-bank settlements in border areas.