News
Bush, Greenspan review economy over lunch
US - President Bush on Thursday hosted Federal Reserve Chairman Alan Greenspan for lunch to review the U.S. economic outlook following a second-quarter growth slowdown.
Brazil's real up on biggest single day gain ever
BRAZIL - Brazil's real broke a nine-session losing streak Thursday posting its biggest single day gain ever on hopes that help from the International Monetary Fund is on its way.
RBNZ say new inflation accord must keep continuity
NEW ZEALAND - Any changes to the Reserve Bank of New Zealand's inflation-fighting agreement should consider the benefits of continuity of monetary policy, the central bank said Friday.
Korea's for ex reserves jump to $115.49 bn
SOUTH KOREA - The nation's foreign exchange reserves hit a fresh high of $115.49 billion at the end of July, up $3.05 billion from the end of June, the Bank of Korea (BOK) reported yesterday.
Negative sentiment leads to slide in Thai baht
THAILAND - The conflict between the prime minister and the central bank governor on how to manage the baht under the managed float system has resulted in confusion among dealers in the foreign exchange market.
Argentine central banker admits contagion effect
ARGENTINA - Aldo Pignanelli, the president of the Argentine Central Bank (BCRA), said Friday that the Argentine crisis, which has been dubbed the "tango effect", has spread to Brazil and Uruguay, adding that the local banking and foreign exchange system…
Papua New Guinea's central bank wants spending cut
PAPUA NEW GUINEA - The Bank of Papua New Guinea yesterday warned that the incoming government could face a financial crisis similar to those in 1994 and 1999 following a 210.5m kina hole in the budget deficit in the first half of this year.
Gold rises as dollar slips back
UK - Gold shone on Friday morning in Europe as the dollar slipped against other currencies and producer selling seen earlier this week eased off, leaving prices with a chance to head up, traders said.
Brazil's Fraga says currency falls temporary
BRAZIL - Brazil's Central Bank President Arminio Fraga said on Wednesday the real currency's nosedive amid pre-election pressures was temporary and that an expected loan deal with the International Monetary Fund should help soon.
Euro-zone inflation climbs to 1.9 per cent in July
BELGIUM - Inflation in the 12-nation euro zone edged up to 1.9 per cent in July compared with the same month in 2001, the statistics body Eurostat reported on Wednesday, citing provisional figures.
Senate confirms new nominees to Federal Reserve
US - The US Senate on Wednesday confirmed President Bush's two latest nominees to the Federal Reserve Board, Princeton economist Ben Bernanke and Donald Kohn, a long-time staff aide at the central bank.
Thailand's Thaksin raps central bank on volatility
THAILAND - Prime Minister Thaksin Shinawatra yesterday took the Bank of Thailand to task for allowing "excessive volatility" in the exchange rate of the baht to the possible detriment of exporters.
UK interest rates left on hold
UK - UK interest rates have been left on hold for the ninth month running at 4%, their lowest level for 38 years.
Interest rates in europe left unchanged
GERMANY - The European Central Bank on Thursday kept interest rates unchanged for the ninth month in a row amid uncertainty over the impact of turbulent financial markets and a stronger euro on Europe's slowly recovering economy.
ECB Press Release
PRESS RELEASE - Biannual information on the counterfeiting of the euro, 31 July.
ECB Press Release
PRESS RELEASE - Payment and securities settlement systems in the European Union - Addendum incorporating 2000 figures, Frankfurt am Main, 31 July.
Bank of England News Release
News Release - Bank Of England Maintains Interest Rates at 4.0%, 1 August.
ECB Press Release
PRESS RELEASE - Monetary policy decisions, 1 August.
Sveriges Riksbank Press Release
PRESS RELEASE - A comment from the Governor of the Riksbank, 29 July.
BIS Crockett warns on 'knee-jerk' accounting cures
GERMANY - Governments should not react with 'knee-jerk' regulation to soothe public anger over accounting scandals, such as Enron and World Com, and should instead take a more considered, coordinated approach, the head of the BIS said in a newspaper on…
Barbados c bank head warns of threat to jobs
BARBADOS - Jobs might be harder to get and harder to keep as Barbados' economy continues to contract in the coming months, Marion Williams Governor of the Barbados Central Bank said at a press conference on Tuesday.
Two Fed nominees move towards Senate approval
US - Two highly regarded nominees for key policymaking spots on the U.S. Federal Reserve, including one with strongly held views on inflation targets, sped easily through a Senate hearing on Tuesday.
Brazil's Fraga hopes for IMF deal by 12 Aug
BRAZIL - Brazil's Central Bank President Arminio Fraga said on Tuesday he expected the country to clinch a much-awaited deal with the International Monetary Fund, by 12 August, that should help calm pre-election market jitters.
Uruguay calls bank shutdown amid economic crisis
URUGUAY - Uruguay ordered its banks closed Tuesday in an attempt to stem the outward flow of capital in the midst of a growing financial crisis.