News
Minutes from Federal Reserve Board meeting
PRESS RELEASE - The Federal Reserve Board on Friday released the minutes of its discount rate meetings from May 21, 2001 to September 17, 2001.
HKMA Press release on retail payment services
PRESS RELEASE - The Hong Kong Monetary Authority (HKMA) has completed a comprehensive review of retail payment services in Hong Kong ("the Review"), which was conducted by an internal task force of the HKMA set up in August 2000.
US economy shrinks
US - The US economy has shrunk for the first time in eight years, official figures have revealed.
Argentina plays down default fears
ARGENTINA - Argentina is expected to announce later on Wednesday a plan to deal with its debt and boost the economy.
ECB voting reform urgently needed economists claim
UK - The way in which the European Central Bank sets interest rates needs to be reformed urgently in order to prepare for enlargement of the European Union, a group of leading economists said.
ECB: Monetary conditions not hindering growth
SPAIN - Current monetary conditions in the euro zone aren't hindering growth, European Central Bank executive board member Eugenio Domingo Solans said Wednesday, echoing similar remarks made recently by other ECB Governing Council members.
BOJ: Don't plan to weaken Yen by intervention
JAPAN - The Bank of Japan has no plan to intervene in currency markets to weaken the yen as a way to ease Japan's debilitating deflationary conditions, a senior BOJ official said Wednesday.
Egypt names deputy c bank head as new chief
EGYPT - Egypt on Tuesday named Deputy Central Bank Governor Mahmoud Abu el-Ayoun as head of the central bank, Egypt's official state-owned Middle East News Agency (MENA) said.
New automated account system at c bank of Jordan
JORDAN - A $2.9 mln ($3.2 mln euro) worth new automated human resource management and accounting system has been installed at the Central Bank of Jordan (CBJ).
Thai cabinet approves currency swap with China
THAILAND - Thailand's cabinet approved a $2 billion unilateral currency swap deal with China Tuesday which can be used in the event of a foreign exchange crisis, a Finance Ministry official said.
PWC to carry out Ukraine national bank audit
UKRAINE - The audit of the National Bank of Ukraine in 2001 will be done by the PriceWaterhouseCoopers company. Such was the decision by the NBU board, NBU board chairman Anatoly Halchynsky is quoted as saying.
Brazil c bank to receive US$2.5bn debt from Poland
BRAZIL - The Central Bank will receive US$2.457 billion in two weeks time from a debt due from Poland that is scheduled to come due in 2009. The money will bolster Brazil's foreign currency reserves, raising them to US$42 billion.
All taken in Goodhart
UK - Charles Goodhart, the London School of Economics professor of banking and finance, is to return to the Bank of England at the beginning of next year.
BIS International Consolidated Banking Statistics
PRESS RELEASE - Bank for International Settlements International Consolidated Banking Statistics - second quarter of 2001, 29 October.
Prominent economist urges Argentina to float
ARGENTINA - An international economist who has been one of the most prominent advocates of Argentina's fixed exchange rate regime says the country should now float its currency.
Argentina seeks support for debt plan
ARGENTINA - Argentina was yesterday, Monday, scrambling to build international support for its planned debt restructuring, details of which are expected in the coming days.
Banks maintain intl corporate credit exposure - 2Q
UK - Despite the worsening global economic outlook, banks' credit exposure to international corporations in the second quarter remained around the same level as in the first quarter, the Bank for International Settlements revealed.
Shock rise in Japanese jobless
JAPAN - Unemployment in Japan rose to 5.3% in September, another record high.
Pakistan seeks landmark deal on debt rescheduling
PAKISTAN - Pakistan is seeking an unprecedented debt rescheduling agreement with the Paris Club of sovereign creditors, which would extend help on terms usually reserved for much poorer countries.
China's gold exchange launch seen on 28 Nov
CHINA - China could launch its gold exchange in Shanghai next month with about 100 domestic firms permitted to trade gold for physical settlement only, industry sources in Hong Kong said on Tuesday.
Buba Welteke: Euro-12 price pressure to ease soon
DENMARK - Early indicators signal price pressure in Germany and the euro-12 will ease further in the near term, but euro-12 financing conditions are favourable, Deutsche Bundesbank President Ernst Welteke said Monday.
Dallas fed board chairman and dep reappointed
US - The Federal Reserve Board of Governors has reappointed H. B. Zachry chairman and Patricia Patterson deputy chairman of the Federal Reserve Bank of Dallas board of directors for the year 2002, beginning 1 January.
ECB gold reserves to 26 October
GERMANY - The Eurosystem's net reserves of gold and gold receivables declined by EUR1 million to EUR128.2 billion in the week ended 26 October, the European Central Bank said Tuesday.
Economists say King should prepare for BoE top job
ARTICLE - Wanted from Spring 2003: a safe pair of hands to steer British monetary policy through economic storms and likely turbulence over European monetary union.