News
US aid for Philippine money laundering campaign
US - The US Agency for International Development is to extend assistance to the Philippines' campaign against money laundering, the US embassy said Monday.
BOJ expected to keep same policy
JAPAN - Japan's economy may be showing signs of emerging from its worst postwar downturn, but analysts expect the Bank of Japan to be alert to risks the U.S. upturn may lose momentum and send Japan deeper into recession.
Europeans aim for joint rate rises
UK - Europe's central banks are set to raise interest rates simultaneously on 6 June, say leading economists. The Bank of England, the European Central Bank and the Swedish Riksbank are likely to hike rates at their respective policy-making meetings in…
Brazil central banker dampens rate cut talk
BRAZIL - Brazil Central Bank President Arminio Fraga on Friday watered down his own remarks on the possibility of future interest rate cuts, just as the market was doubting any such decision next week.
Fed proposes role change as emergency bank lender
US - The Federal Reserve yesterday proposed a change in its capacity as lender of last resort, essentially suggesting that credit markets have more of an influence in determining its lending rate on emergency loans to cash-strapped banks.
Aznar urges Argentina to bite IMF bullet
SPAIN - Spain's prime minister bluntly urged debt-strapped Argentina on Friday to take "painful decisions" and secure a deal with the International Monetary Fund as fast as possible.
Swiss fight for banking secrecy
SWITZERLAND - Swiss officials are digging in to defend secrecy laws synonymous with the country's huge banking industry before talks with the European Union expected in June.
AIB signs new risk-control agreement
US - The Federal Reserve Bank of Richmond, the Maryland Commissioner of Financial Regulation and the Central Bank of Ireland have signed a written agreement with Allied Irish Banks, Allfirst Financial and Allfirst Bank setting out the steps to be taken…
Polish gov't calls for exchange rate discussion
POLAND - Following a government session on Tuesday, finance minister Marek Belka called the central bank's Monetary Policy Council (RPP) to discuss potential proposals aimed at abandoning the policy of no-intervention on the foreign exchange market, and…
World wide search for New Zealand's c bank chief
NEW ZEALAND - The Reserve Bank has appointed headhunter Signium International to scour the world for a new Governor.
ECB Padoa-Schioppa - 'excessive' talk on inflation
ITALY - European Central Bank board member Tommaso Padoa-Schioppa said the central bank has to monitor with attention the current level of euro-zone consumer prices which remain above 2.0 pct year-on-year, but believes it is "excessive" to describe the…
Banco de Brasilia fails central bank online test
BRAZIL - Brazilian bank Banco de Brasilia topped the central bank's online consumer complaint ranking in April, knocking financial group Grupo Santander Brasil from first to second place, according to information published on the central bank's site.
Yugoslav c bank converts German marks into euros
YUGOSLAVIA - About 7.9 billion German marks have been converted into euros, Yugoslav National Bank Governor Mladjan Dinkic said on Thursday.
Lithuania thwarts mafia attempt to launder money
LITHUANIA - The Bank of Lithuania, the country's central bank, has prevented a large-scale money laundering attempt by declining an application from a French national to make a huge investment in the country's fourth-largest bank, Snoras, Lithuanian…
Argentina central bank denies chairman to resign
ARGENTINA - The central bank has dismissed rumours that the resignation of its chairman, Mario Blejer, was imminent.
Outgoing MPC member criticises B of E rates record
UK - The Bank of England would have delivered a significantly more impressive performance on both growth and inflation if interest rates had been kept lower over the past few years, according to research carried out by Sushil Wadhwani, a soon to depart…
World Bank boss visits Afghanistan
AFGHANISTAN - The World Bank's president has reaffirmed his long-term commitment to the development of Afghanistan.
UK's Blair says euro poll 'getting close'
UK - Tony Blair has admitted a referendum on Britain's entry into the single European currency could be "getting close".
Fed's Moskow - Much uncertainty on U.S. recovery
US - Uncertainty lingers over the early shape of the U.S. recovery though the economy is on track for moderate growth and the long-term outlook is good, a Federal Reserve official said on Thursday.
IMF calls for regulating 'hawala' transfers
UAE - The International Monetary Fund (IMF) on Wednesday called on the informal system of overseas money transfers known as "hawala" to be regulated in the interests of the world economy.
Inflation target would have little effect-BOJ Ueda
JAPAN - A member of the Bank of Japan's Policy Board said on Wednesday an inflation-targeting policy would have little effect when the central bank has insufficient policy tools to convince markets such goals could be achieved.
IMF says HK dlr peg good but needs constant review
US - Hong Kong's dollar peg is appropriate for the region's economy, the International Monetary Fund said on Wednesday, but warned it is a policy that requires constant review.
Polish central bank head ready for gov't dialogue
POLAND - Polish National Bank (NBP) President Leszek Balcerowicz declared on Thursday he was ready for dialogue with the finance minister but believed that structural reforms and securing higher competitiveness were more important than discussions on the…
Argentina central bank chief 'may resign' rumour
ARGENTINA - Rumours that Central Bank Chairman Mario Blejer is considering stepping down were circulating among banks yesterday, newspaper Clarin reported.