News
Austrian central bank warns of forged euro notes
AUSTRIA - Wolfgang Duchatczek, a director of central bank Oesterreichische Nationalbank (ONB), has warned Austrian consumers to be on the look-out for forged euro banknotes following the launch of the new European single currency on 1 January 2002.
NIESR report - UK to avoid slide into recession
UK - The UK will weather a sharp global slowdown and there is no reason to cut interest rates further, according to a leading think-tank.
Greenspan sets out defence of free markets
US - Alan Greenspan, Federal Reserve chairman, speaking on Wednesday levelled one of his most aggressive defences yet of free markets, while warning that the prospect of additional terrorist acts threatened to reduce trade and its economic benefits.
UK economy defies world slowdown in Q3
UK - Britain's economy grew at a much faster rate than expected in the third quarter of 2001, defying the global slowdown that has been exacerbated by last month's attacks on the United States, data showed on Friday.
Swiss SNB sells 7.7 tons of gold in 10-day period
SWITZERLAND - The Swiss National Bank sold around 7.715 metric tons of surplus gold in its latest 10-day reporting period ended 19 October, central bank statistics showed Monday.
NBU's gold-currency reserves over US $3 billion
UKRAINE - As of 19 October the National Bank of Ukraine's gross gold-currency reserves had reached a record US$ 3.007 billion, having increased by US$ 1.379 billion since the beginning of the year.
Thai central bank set to streamline four units
THAILAND - The Bank of Thailand is restructuring its four organisational units: the financial institutions policy group, monetary policy group, fund operations (Financial Institutions Development Fund) and the office of the governor.
Fed's McTeer - Rate cuts not effective enough yet
US - Four percentage points worth of rate cuts by the Federal Reserve have so far not done enough to help the struggling U.S. economy, Federal Reserve Bank of Dallas President Robert McTeer said Wednesday.
BOK to pursue flexible monetary policy
SOUTH KOREA - The Bank of Korea (BOK) will manage its monetary policy in a flexible manner, paying attention to its effect on the real economy, BOK governor Chon Chol-hwan said Thursday in a speech.
UK Moneybox install cash dispenser in Netherlands
NETHERLANDS - Moneybox Netherlands, a subsidiary of UK Moneybox Corporation, is to install 750 cash dispenser in the Netherlands, the company spokesman said on 23 October.
European Central Bank - Monetary Policy Decisions
ECB PRESS RELEASE - Monetary policy decisions, 25 October 2001.
Canada's Dodge offers little hope for 2002 economy
CANADA - Bank of Canada Governor David Dodge in a speech on Wednesday chipped away at hopes the Canadian economy might recover in 2002 from its current slowdown, a sickly state worsened by the attacks on the United States last month.
Canada cuts rates to lowest level in 40 years
CANADA - The Bank of Canada surprised the markets by cutting interest rates by three-quarters of a point to the lowest level in 40 years on Tuesday.
ECB leaves interest rates on hold
EUROPE - The European Central Bank has left interest rates unchanged at 3.75% on Thursday.
House likely to delay BI deputy governors decision
INDONESIA - The House of Representatives is likely to delay the appointment of three new Bank Indonesia deputy governors, as legislators will start a month-long recess on Wednesday.
RBI protests against faulty telephone directory
INDIA - The Patna unit of the Reserve Bank of India (RBI) has charged the Patna Telephones of the Bharat Sanchar Nigam Limited (BSNL) with neglecting complaints of telephone consumers, in general, and the RBI, in particular, with regard to errors found…
Hungary's Nat Bank to build new logistics centre
HUNGARY - The National Bank of Hungary plans to build a new logistics centre, also housing the National Mint - Magyar Penzvero - on the outskirts of Budapest or outside the city, the central bank announced on Friday.
US reports weak economic activity
US - Economic activity was weak across the US in September and the first half of October, as the effects of last month's terrorist attacks compounded the slowdown already in place before 11 September, the Federal Reserve said yesterday, Wednesday.
HKMA's Yam - Catastrophe to drop HK$ peg now
HONG KONG - HKMA chief uses strong words to quash talk of de-pegging from US$ in a speech given on Wednesday.
Brazil calls emergency BRR1 billion debt sale
BRAZIL - Brazil's central bank called an emergency sale of short-term, dollar-linked debt early Thursday to try to prop up its sagging currency.
Georgia's cen bank staff want right to carry arms
GEORGIA - Members of Parliament of Georgia are discussing an issue of allowing some employees of the National Bank of Georgia to carry firearms.
Alan Greenspan applauds US financial system
US - The US is blessed with a financial system that is "creative, flexible and innovative", said Alan Greenspan, chairman of the Federal Reserve, in a pre-recorded speech to the American Bankers Association.
Soiled notes turn to paper bricks!
INDIA - The Gujarat headquarters of the Reserve Bank of India (RBI) has installed a Rs 2 crore note-shredder imported from the Netherlands at its regional head-office near Gandhi bridge, said regional director, RBI-Gujarat VS Das.
Fourth Bank member alludes to rate cut
UK - Kate Barker last night became the fourth member of the Bank of England's monetary policy committee in a week to hint at approval for future interest rate cuts. Her hint came in a speech to bankers and economists in Edinburgh.