News
UAE central bank profits fall
UAE - A steep decline in interest rates slashed the net profits of the UAE central bank by nearly a third in 2001, reports Gulf News, but its deposits with other banks almost doubled, its balance sheet showed.
RBI - Efforts needed to safeguard information
INDIA - The provision of adequate security has assumed urgency in banks and continuous and concerted efforts have to be made to safeguard information and information systems, the Reserve Bank of India's Deputy Governor, Vepa Kamesan, said Saturday.
Trichet affair could hurt euro, says EC president
GERMANY - European Commission president Romano Prodi said in a newspaper interview Saturday that the legal problems of French Central Bank Governor Jean-Claude Trichet, tipped to become the next head of the European Central Bank (ECB), could pose a…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 11 and 12 June 2002, released 19 July. A few members remarked that the Bank should make clear its intention to continue the current monetary easing stance because it was important to…
Canada auditors get new monitor
CANADA - Canadian securities regulators and accountants have formed a new body to address investors' lack of confidence in financial statements.
New governor - Central Bank of Trinidad and Tobago
TRINIDAD AND TOBAGO - The Central Bank of Trinidad and Tobago has a new governor. Ewart S. Williams has been appointed Governor of the Central Bank for a period of five years starting 17 July. He replaces Governor Winston Dookeran who completed his term…
BOJ head sees few reasons for further dollar fall
JAPAN - Bank of Japan Governor Masaru Hayami said on Friday that the dollar, whose weakness against the yen has alarmed Japanese authorities, did not have much reason to fall further.
Increase in money returned by Pakistani's abroad
PAKISTAN - Remittances from Pakistanis living overseas more than doubled in the financial year that ended last month - their most robust growth for years, the State Bank of Pakistan said on Thursday.
Prosecutors confirm no appeal on Trichet
FRANCE - The Paris prosecutor's office has confirmed that it will not appeal a summons issued to Jean-Claude Trichet, governor of Banque de France, to appear in court on charges of complicity in false accounting.
MAS says recession is officially "over"
SINGAPORE - Singapore's worst and longest recession is over. The shrinkage actually ended abruptly on 31 December, the Monetary Authority of Singapore (MAS) said Thursday.
MAS Monetary Policy Statement
STATEMENT - Monetary Authority of Singapore, Monetary Policy Statement, 11 July.
Bank of England News Release, 18 July
NEWS RELEASE - The Bank of England plans to resume issuing the new Elizabeth Fry £5 note in the week commencing 19 August.
UK Treasury criticised over Bank of England posts
UK - The Treasury has been rebuked for failing to follow proper procedures for appointments to the Bank of England's governing body.
Euro did cause price prices - Eurostat
GERMANY - The changeover to euro banknotes and coins might have added as much as 0.2 percentage points to eurozone inflation in the first half of this year, Eurostat, the European Union's statistical agency, said on Wednesday.
No intervention in Trichet case vows French gov't
FRANCE - The French government and the Paris prosecutor's office said Wednesday they would not intervene over the forthcoming trial of Jean-Claude Trichet, the central bank governor whose attempt to become president of the European Central Bank is…
Edward George enters ECB race - and promptly exits
UK - The Financial Times on Thursday speculates that Edward George could be the ideal man for the ECB's top job now that long-time favourite Jean-Claude Trichet faces trial. However, sources at the Bank of England told CentralBankNet on Thursday that…
Deputy head of Central Bank of Russia appointed
RUSSIA - Central Bank of Russia chairman Sergey Ignatyev signed on Wednesday an order appointing Konstantin Korishchenko as his deputy, a source in the bank said Thursday.
Russian PM criticises central bank over inflation
RUSSIA - Russian Prime Minister Mikhail Kasyanov has pointed to continued favourable trends in the national economy but scolded the central bank over its lack of control over inflation.
Brazilian real hits new low as c bank cuts rates
BRAZIL - The Brazilian real has closed at a record low against the dollar after the country's central bank announced a surprise cut in interest rates.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes from the Bank of England's MPC meeting 3 and 4 July, released 17 July. The Bank of England's Monetary Policy Committee voted 8-1 to leave interest rates at 4.0 percent for the eighth month running in July, the minutes showed.
IMF Extends Argentina's SRF Repayment by One Year
PRESS RELEASE - IMF Extends Argentina's SRF Repayment by One Year, 15 July.
Poland's c bank wants talks with finance minister
POLAND - The National Bank of Poland (NBP) has declared it wants dialogue with the finance minister following the 16 July presentation of his strategy, NBP president Leszek Balcerowicz has said.
Think tank recommends orderly change in Argentina
ARGENTINA - Argentine authorities must take care to avoid a chaotic and unpredictable restructuring of the country's fragile financial system, local economic think-tank Fundacion Capital (FC) said in a report on the financial system.
Solomons central bank gov warns of savings scam
SOLOMON ISLANDS - Central Bank Governor Rick Hou has dismissed rumours associating him with a scheme called the Family Charitable Fund, which purports to be a local agent for the Lady Diana Memorial Fund. The rumours alleged that the bank governor and…