News
Press Release from the Bank of Canada
PRESS RELEASE - Bank of Canada Governor reviews key developments of last year, 28 January.
US economy shows unexpected strength
US - The US economy grew 0.2% in the last three months of 2001, official data has shown.
Bank of England - News Release
NEWS RELEASE - Financial Sanctions: Afghanistan (Taliban and Usama Bin Laden), 28 January 2002.
ECB on collision course over plan to regulate EU
EUROPE - The European Central Bank has put itself on a collision course with European financial regulators, including Britain's Financial Services Authority, over the ECB's ambitions to play a role in banking supervision.
Regulator warns about health of insurance industry
UK - The Financial Services Authority has warned that it is important for the long-term health of the insurance industry and clients that its capital base is strengthened.
China vows to safeguard stability of stock market
CHINA - China has promised investors to safeguard the "stability" of the stock market after a week of sharp price movements triggered by continuing confusion over the sale of the controlling stake held in most listed companies by government entities.
MPs send amendment to law on CNB to final reading
CZECH REPUBLIC - The Chamber of Deputies today sent to a final reading the government-sponsored amendment to the law on the Czech National Bank (CNB), which corrects the drawbacks of the previous amendment criticised by the European Union.
IMF supports Indonesian plan for independent team
INDONESIA - Finance Minister Boediono said that the International Monetary Fund (IMF) has lent its support to plans to create an independent team to determine the burden-sharing for the controversial Bank Indonesia emergency loan (BLBI).
Peru's central bank moves to inflation targeting
PERU - Peru's central bank has made inflation targeting its main tool for signalling the direction of monetary policy, Central Reserve Bank of Peru President Richard Webb said Tuesday.
Reserve Bank of Australia - Media Release
MEDIA RELEASE - Senior Management Changes, 29 January.
Hayami says weak yen no solution to Japan's woes
JAPAN - Bank of Japan Governor Masaru Hayami said on Tuesday it was neither possible nor desirable for Japan to try manipulating foreign exchange rates, maintaining that a weaker yen was no solution to its economic woes.
Fischer suggests managed floating currency system
INDIA - The Indian monetary policy of not trying to peg a particular value for the rupee was good economics, Stanley Fischer said here today. The former first deputy managing director of the International Monetary Fund was speaking at a seminar organised…
IMF News Brief, 28 January
NEWS BRIEF - IMF, World Bank and IDB Working Closely to Help Argentina.
Argentina seeks US backing
ARGENTINA - Argentina's government has begun crucial financial talks in Washington, as forecasts show the economy is set to contract sharply this year despite the devaluation of the peso.
Japan jobless rate hits new high
JAPAN - Japan's unemployment has reached a new record high of 5.6%.
IMF team says dollar best currency for Afghanistan
AFGHANISTAN - A team of International Monetary Fund and World Bank experts visiting Afghanistan said on Tuesday it would make sense for the country to switch to the U.S. dollar in the short term.
ECB's Issing points to signs of recovery
SPAIN - Otmar Issing, the chief economist of the European Central Bank, said in an interview "the first signs of recovery are now appearing, but we still have to see what will be its scale. And we cannot rule out that it will end up being stronger than…
Australia's Res Bank appoint head of domestic mkts
AUSTRALIA - The Reserve Bank of Australia said Tuesday it has appointed Philip Lowe as head of its domestic markets department.
Govt plans supervisory board for Bank Indonesia
INDONESIA - The government plans to set up a supervisory board within Bank Indonesia as one of several measures under the new central bank bill to increase its accountability.
Bank of Latvia president nominates his deputy
LATVIA - Bank of Latvia president Ilmars Rimsevics has nominated as his deputy Andris Ruselis, the vice-president of Balta and Latva insurance companies, reported the Latvian parliament press service.
China considers central bank role
CHINA - China's policy makers appear to be contemplating the future role of the People's Bank of China as banking supervisor as the country prepares to open its financial system to foreign competition.
IMF official calls for Japan deflation deadline
US - A top International Monetary Fund (IMF) and former Japan Finance Ministry official said on Friday the Bank of Japan should set a deadline to end deflation and stop a cycle of falling prices in the world's second largest economy.
Argentine economy 'to shrink by 5%'
ARGENTINA - Argentina's economy is set to contract sharply this year, despite the devaluation of the peso. The country has been in recession for four years now
Wellink - Euro may add 0.25% to Dutch inflation
NETHERLANDS - Dutch Central Bank President and European Central Bank governing council board member Nout Wellink said Monday he expected the introduction of the euro to add around a quarter of a percentage point to inflation in the Netherlands.