News
Peru's congress elects directors to central bank
PERU - Congress on Thursday 20 September elected its three representatives to the board of directors of the Central Reserve Bank of Peru.
German business confidence falls
GERMANY - German business confidence has fallen again, reflecting uncertainty over the effects of the terror attacks in the US, a key report has said.
Nigeria's central bank raises rates
NIGERIA - The Central Bank of Nigeria has raised the interest rate at which it lends to commercial banks by 2%, bucking the trend of globally coordinated rate cuts in the wake of the attacks on the US.
Fears grow for US economy
UNITED STATES - Fears for the US economy are growing, after the country's central bank revealed that there had been no signs whatsoever of an upturn before the terrorist attacks in New York and Washington.
New deputy governor at Pakistan's central bank
PAKISTAN - Mr. Tawfiq A. Husain today, 20 September, assumed the charge of the office of Deputy Governor, State Bank of Pakistan. He replaces Mr. Mukhtar Nabi Qureshi who retired from the post after completing his term.
Pakistan exchanges stay closed
PAKISTAN - Financial market regulators in Pakistan have announced that the country's three stock exchanges will remain closed until next week.
Japan on its own in supporting the dollar
JAPAN - When Haruhiko Kuroda, Japan's top financial diplomat, was despatched yesterday to the US and Europe, most analysts assumed he would try to drum up support for Japan's efforts to prop up the dollar.
IMF's Kohler sees hope for economic recovery
US - The US economy is expected to show signs of recovery by the end of the year in spite of last week's terrorist attacks and the sharp decline in the airline industry, the International Monetary Fund said yesterday, 19 September.
IMF promises more efforts on crisis prevention
IMF ANNUAL REPORT 2001 - International Monetary Fund Managing Director Horst Koehler yesterday, Wednesday, reiterated that the international lender will focus more in the coming months and years on preventing economic crises.
IMF new lending rises slightly
IMF ANNUAL REPORT 2001 - Lending by the International Monetary Fund in its financial year 2001 to last April increased slightly, reflecting additional loans to Argentina and Turkey to assist their economic reform.
Embracing change, IMF looks for shareholder reform
IMF ANNUAL REPORT 2001 - The International Monetary Fund yesterday, 20 September, issued its annual report for 2001, highlighting its progress in implementing reforms and urging its members - particularly the advanced economies - to do the same.
Bank had considered UK rate rise
UK - The Bank of England had been considering raising interest rates this month, minutes of a key meeting have revealed.
NZ's Reserve Bank cuts cash rate by 0.5%
NEW ZEALAND - The Reserve Bank of New Zealand Wednesday 19 September cut its official cash rate by 50 basis points, to 5.25%, from 5.75%.
Statement from the Reserve Bank of New Zealand
NEWS RELEASE - RBNZ cuts OCR to 5.25 per cent.
Minutes of the Monetary Policy Committee meeting
NEWS RELEASE - The Bank of England has published the minutes from its Monetary Policy Committee (MPC) meeting held on 5 and 6 September.
World Bank appoint new country manager to Bulgaria
BULGARIA - The World Bank has announced that Oscar de Bruyn Kops had been appointed World Bank Country Manager to Bulgaria.
History of central bank intervention
UK - Following is a chronology of intervention in foreign exchange markets by central banks from major industrial nations on the dollar, the yen, the German mark and the euro.
HKMA says no evidence of Bin Laden deposits in bks
HONG KONG - Hong Kong's quasi-central bank said Wednesday 19 September it has no evidence that Osama bin Laden, the prime suspect in last week's U.S. terrorist attacks, and his associates are keeping cash in the city's banks.
Welteke: No need to be too pessimistic on economy
GERMANY - Deutsche Bundesbank President Ernst Welteke said today, Wednesday 19 September, cautioned against being overly pessimistic about German economic growth prospects in the wake of last week's terrorist attacks on the U.S.
Pakistan c bank assures liquidity to money market
PAKISTAN - State Bank of Pakistan, the country's central bank, will keep the money market liquid to alleviate any outflows from a treasury-bill auction today, Wednesday, and nervousness from events in Afghanistan, a senior official said Wednesday 19…
Chicago Fed cancels Oct conference on asset prices
US - The Federal Reserve Bank of Chicago said yesterday, Tuesday 18 September, it had cancelled a conference on asset price bubbles that was co-sponsored by the World Bank.
Report - Central banks did not act together
US - Unlike the co-ordinated monetary policy moves that were the hallmark of international economic co-operation of the 1980s, the spate of interest rate cuts that rippled around the world on Monday and Tuesday was not a pre-arranged exercise by G7…
Russians allowed to open accounts in foreign banks
RUSSIA - Russia's Central Bank allowed Russian citizens to open accounts in foreign banks for non-business purposes, according to the CBR ruling, published in CBR's official bulletin today, 19 September. The ruling takes affect in ten days.
US and ECB slash rates 0.5% to stabilise markets
INTEREST RATES - Monday 17 September saw both the ECB and US Federal Reserve cut interest rates by 0.5 percent. The Us move failed to stop substantial falls on the US stock market.