News
ECB Duisenberg - EU enlargement no threat to euro
GERMANY - The planned enlargement of the European Union by a number of accession countries poses no threat to the euro currency, European Central Bank President Wim Duisenberg said Friday.
UK shouldn't miss further opportunities in Europe
UK - United Kingdom Prime Minister Tony Blair said Friday that the U.K. shouldn't miss any further opportunities in Europe particularly regarding the euro.
Cash transfer move falters in Europe
EUROPE - The European Commission's 12-year attempt to reduce charges for cross-border money transfers in Europe is in danger of collapsing because of last-minute opposition from several European Union members and fierce lobbying by banks.
ECB Issing - Euro undervalued deficit targets stay
SPAIN - European Central Bank Chief Economist Otmar Issing said Friday that the euro is undervalued and that he remains confident that the currency's value will rise in the future.
State Bank of Pakistan lifts foreign ex quotas
PAKISTAN - Pakistanis travelling abroad are now free to buy as much foreign exchange as required at the interbank exchange rate.
Speech by Ernst Welteke, Bundesbank President
SPEECH - Closing remarks at the European Banking Congress by Ernst Welteke, President of the Deutsche Bundesbank, Frankfurt, 23 November.
Row threatens Finland's euro launch
FINLAND - A row between banks and retailers in Finland is threatening to disrupt the launch euro notes and coins.
BoE's Wadhwani sees UK inflation below 2.5% target
UK - Bank of England monetary policy committee member Sushil Wadhwani said he expects UK inflation to stay below the 2.5 pct official target over the next two years.
BOJ downgrades assessment for 6th month running
JAPAN - The Bank of Japan (BOJ) on Monday downgraded its assessment of Japan's economy for the sixth straight month, saying personal consumption is gradually weakening due to the negative effects of sluggish industrial production on employment and income.
Japan gov't to work with BOJ to tackle deflation
JAPAN - The Japanese government's key policy-setting panel has decided that the government will coordinate policies with the Bank of Japan in an effort to come up with solutions to tackling persistent deflation, according to a memo from the panel's…
Trichet sees 0.3% growth in France in 4th quarter
FRANCE - Bank of France Governor Jean-Claude Trichet expects French economic growth at 0.3% in the fourth quarter of 2001, following estimated 0.3% growth in the third quarter, according to an interview Monday in French daily newspaper La Croix.
Plenderleith: 11 Sep shows fin system resilience
UK - Bank of England executive director Ian Plenderleith said Monday that the world financial markets had done a "fantastic job" in withstanding the shocks following the 11 September attacks on the U.S.
Bangladesh appoints new central bank governor
BANGLADESH - Fakhruddin Ahmed has been appointed as the governor of Bangladesh Bank, the country's central bank, an official statement said on Thursday.
Nucic proposed to stay as Slovenian c bank dep gov
SLOVENIA - The governor of the Slovenian central bank, Mitja Gaspari, has proposed to the Slovenian Parliament to reappoint Samo Nucic, 44, as deputy governor of the bank for another six-year term of office.
Top Polish officials pay frozen for next two years
POLAND - Poland's lower house Wednesday passed a bill freezing top government officials' pay for the next two years and also opening the way for reductions in the wages paid to central bank chairmen and deputy chairmen.
Central bank of Greece goes live with finance kit
GREECE - Trema, the premier provider of financial technology, today announced that Bank of Greece has gone live with Finance KIT after completing the second phase of the implementation project, making it the first central bank to benefit from Trema's pre…
IMF mulls approach on terrorist funding
USA - Pressure from the US to act on terrorist financing has generated a debate within the International Monetary Fund on how it should respond.
Oman c bank say anti-laundering law in final stage
OMAN - Oman's central bank chief said on Friday the Gulf country was close to issuing a law against money laundering, the official Oman News Agency reported.
UK FSA warned against using show of strength
UK - The financial watchdog has been warned that any attempt to get a high-profile City scalp purely to demonstrate its new powers could break its own rules.
OECD forecasts recovery
The OECD's forecasts, while acknowledging that the world may already be in recession, suggest that the recession may not be prolonged and it still expects a sharp recovery next year. "I don't see this as a severe global recession," Chief Economist…
Euro on show in Beijing
An exhibition entitled "The Euro Is Here" has opened at the China Numismatic Museum in Beijing.
NZ's Brash wary of deflation
Speaking at a roadshow aimed at small businesses today the Governor of the Reserve Bank of New Zealand, Donald Brash stressed that deflation was just as much a concern as inflation with regard to defining price stability.
BOJ reluctant to ease monetary policy
Bank of Japan Governor Masaru Hayami signalled reluctance to loosen monetary policy, doubting that it would have any effect.
ECB seeks bigger role in oversight of banks
GERMANY - The European Central Bank is aiming to reshape bank oversight in the European Union by giving itself a more prominent role.