News
Dutch auction won't depreciate Naira, says CBN
NIGERIA - The Central Bank of Nigeria (CBN) has said that contrary to speculation, the newly introduced Dutch Auction System (DAS) in the nation's foreign exchange market would not lead to the depreciation of the naira.
Euro-zone current account moves to surplus in May
GERMANY - The current account for the 12-nation euro zone showed a surplus of 100 million euros (dollars) in May compared with a deficit of 2.2 billion euros in May 2001, the European Central Bank reported Friday.
Cullen calls for RBNZ to copy Australia's c bank
NEW ZEALAND - Finance Minister Michael Cullen has called for New Zealand's central bank to model itself on the Reserve Bank of Australia, which pursues a 2-3% inflation target.
Structural problems must be confronted says Rubin
SINGAPORE - Two of the world's major economies, Japan and the European Union (EU), need vital structural reforms if they are to achieve sustainable growth, former US treasury secretary Robert Rubin said on Thursday.
IMF-experts: Argentina crisis bottoming out
ARGENTINA - The four monetary experts chosen by the IMF believe Argentina may have touched bottom after four years of recession and see potential for an export-led recovery, an official briefed on the talks said on Thursday.
Czech interest rates cut to stem rise of currency
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates to lower than in the eurozone, in an attempt to halt the headlong appreciation of the country's currency.
Russian court overturns acquittal of ex-c banker
RUSSIA - A Moscow court has overruled the acquittal of a Central Bank official charged with abuse of office for giving a loan to a troubled bank and ordered a retrial, news reports said.
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada Releases Monetary Policy Report Update, 24 July.
Australian Treasury Press Release
PRESS RELEASE - Re-appointment of Mr Hugh Morgan to the Board of the Reserve Bank of Australia, 24 July.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 4 July 2002, released 25 July. The Board noted that the June Inflation Report's main scenario, with a gradual recovery, still holds but there are now signs that activity may not…
IMF News Brief
NEWS BRIEF - IMF Managing Director Horst Kohler Congratulates Yusuke Horiguchi on Appointment as First Deputy Managing Director of the Institute of International Finance, 23 July.
Lower inflation in Australia
AUSTRALIA - Australia's second-quarter inflation figure has come in slightly lower than expected at 0.7 per cent, reducing the chances of another increase in interest rates next month.
Trinidad economy still strong - central bank head
TRINIDAD - The Trinidad and Tobago government has admitted a slowdown in the economy has occurred, but newly-appointed Central Bank Governor Ewart Williams says the economy remains strong.
Putin and c bank chief discuss inflation, gold
RUSSIA - On Wednesday Russian President Vladimir Putin and Central Bank chief Sergey Ignatyev discussed the macroeconomic situation in Russia.
Rumours persist of emergency fed meeting
US - The US Federal Reserve refused to comment Wednesday on rumours that it was considering an emergency meeting in response to the collapse in the stock markets.
Sources challenge role of IMF led Argentina panel
ARGENTINA - Insiders close to the talks currently being held suggest the real purpose of the panel of wise men picked by the IMF to help Argentina is not to give economic advice but rather to decide how to allocate the huge losses incurred by Argentina's…
Uruguay may name economist as central bank chief
URUGUAY - Julio De Brun, an economist who heads the state-run National Development Corporation, is likely to be named president of the country's central bank, a government official said on Tuesday.
CCE to move US$10mn this year - Peru
PERU - Peru's electronic payment association (CCE) expects its online wire transfer and credit card payments facility to move US$10mn this year, Peruvian daily Gestion reported on Tuesday.
BOK to focus monetary policy on stock market
SOUTH KOREA - Korea's central bank will conduct its monetary policy with the goal of stabilizing local stock markets, the banks chief has said.
Euro members told not to over inflate accounts
GERMANY - European countries which have ditched their national currencies in favour of the euro have been told they cannot use unreturned national cash to improve their budgets.
New Basle norms favour SME lending - Brazil
BRAZIL - New Basle norms that will be applied in Brazil and other developing countries in 2006 will loosen reserve requirements for banks lending to small- and medium-sized enterprises (SMEs), Brazilian daily Panorama Brasil reported on Tuesday.
Sectors fared well - Oman's c bank annual report
OMAN - The non-petroleum sectors in Oman recorded significant growth in 2001, according to the Central Bank of Oman's annual report.
Poll shows UK public would defy gov't euro support
UK - Public opinion would remain opposed to Britain joining the euro - even if the government recommended it, according to the latest opinion poll from NOP.
Floating rates are good for Zloty says Balcerowicz
POLAND - "We won't have fast economic growth if we don't heal public finances," said Leszek Balcerowicz, governor of Poland's central bank, in a speech before parliament on Tuesday.