News
Euro campaigners point to inward investment fall
UK - Pro-euro campaigners yesterday claimed that exclusion from the single currency was beginning to hit the economy, with the news that Britain's share of European inward investment projects had fallen sharply to 21 per cent in the first half of this…
BOJ Mitani: Econ close to deflationary spiral
JAPAN - Many companies in Western Japan think the economy is on the verge of a deflationary spiral, the manager of the Bank of Japan's Osaka branch said Monday.
Japan Yanagisawa: Ratios to weather NPL write-offs
JAPAN - Japan's top financial regulator Hakuo Yangisawa said Monday banks will likely be able to keep their capital adequacy ratios above 8% even if they write off their non-performing loans.
Greenspan: Fed carried on 11 Sept without him
US - Federal Reserve Chairman Alan Greenspan, who is often praised for his steady hand during times of crisis, said Friday that he was "essentially incommunicado" on 11 Sept, yet the Fed functioned quite well without him.
BNM commemorative coins for sale
MALAYSIA - Coin collectors interested in buying previous issues of commemorative coins produced by Bank Negara Malaysia will have the final chance to do so until year-end.
BI won't freeze bin Laden's assets
INDONESIA - Bank Indonesia has refused to freeze financial assets linked to Osama bin Laden as demanded by the U.S. government, according to Antara news agency.
Dutch plan euro giveaway
NETHERLANDS - On 1 January 2002 the euro finally becomes legal tender in 12 different countries. More than 15 billion euro notes and 50 billion coins will be delivered to banks around Europe over the next few weeks in preparation.
Germany 'on the brink of recession' - Report
GERMANY - Germany has suffered a sharp fall in growth this year and the recovery next year is likely to be very slight, a bi-annual report from the country's top six economic institutes has warned.
Rate cut row mars summit
GERMANY - The European Union has called for the European Central Bank (ECB) to take "further decisive action" in easing monetary policy in order to boost the eurozone's economy.
Soros lashes out at ECB
US - George Soros, the billionaire financial expert, has lashed out at the monetary policy of the European Central Bank (ECB).
Regulators seek more data about credit derivatives
US - U.S. bank regulators, saying the notional amount of credit derivatives at banks has increased more than sixfold since 1997, from $55 billion to $352 billion, are proposing new reporting requirements on credit derivatives.
FSA 'self-critical' of role in Equitable
UK - An internal investigation by the Financial Services Authority has sharply criticised its own role in the Equitable Life debacle.
Argentina draws up debt-swap plan
ARGENTINA - Argentina is preparing a new debt exchange aimed at easing its heavy interest burden, amid a raging debate as to whether the plan would in fact constitute a default.
Court bars Brazil c bank from liquidated bond sale
BRAZIL - The Central Bank's plans to sell R$11.004 billion in dollar-linked bonds owned by banks under government liquidation - Economico, Mercantil de Pernambuco and Nacional - is under threat.
Hayami says Greenspan against inflation targeting
JAPAN - Bank of Japan Governor Masaru Hayami said on Thursday U.S. Federal Reserve Chairman Alan Greenspan had told him the U.S. central bank chief was opposed to the idea of setting an inflation target for central banks.
Fed nominees pledge inflation fight, help growth
US - Two candidates for the Federal Reserve board, Susan Bies and Mark Olson, Wednesday gave their support to the U.S. central bank's dual mandate of fighting inflation and pursuing steady economic growth.
Fed eases rules on foreign banks, US branches
US - Almost four years after it was first proposed, the Federal Reserve on Wednesday approved easing rules on activities of branches of U.S. banks abroad and for U.S.-based branches of foreign financial institutions.
Singapore MAS to review bank ATM rule in 2-3 years
SINGAPORE - The Monetary Authority of Singapore said Wednesday it will review the restriction on foreign banks' access to local banks' automated teller machine network in two to three years.
Economic leaders choose Ottawa
CANADA - The International Monetary Fund (IMF) and the World Bank have confirmed that their delayed annual meetings will now be held in Ottawa on 17-18 November.
Finland tops economic league
FINLAND - Little Finland has knocked the United States off its perch as the world's most competitive economy, according to an annual ranking from the World Economic Forum (WEF).
ECB net gold reserves decline in Oct 12 week
GERMANY - The Eurosystem's net reserves in gold and gold receivables declined by EUR1 million to EUR128.2 billion in the week ended 12 October, the European Central Bank said Tuesday.
Gambia struggles with economic reform
GAMBIA - Presidential elections this week in the Gambia will push the small West African nation into the international limelight.
Reserve Bank of Australia Bulletin - October 2001
REPORT - The Reserve Bank of Australia has published its regular monthly bulletin for October, Future Directions for Monetary Policies in East Asia.
HKMA exec says no to US$ as Hong Kong's currency
HONG KONG - Hong Kong Monetary Authority Deputy Chief Executive Tony Latter said Monday said there was no need to make the U.S. dollar the city's official currency.