News
No plan to drive yen lower, Hayami says
Bank of Japan Governor Masaru Hayami said on Mar 8, 2001 he was alert to the risk of a vicious deflationary cycle but firmly denied that he wanted to push the yen lower to induce inflation.
BOI Desario-Mergers not the only way to efficiency
The Bank of Italy director general Vincenzo Desario said Mar 8, 2001 that bank mergers were not the only way to achieve efficiency and competitiveness in the banking system.
Bank of Greece to up 2000 dividend
Bank of Greece, the country's central bank, said on Mar 8 that net profit in fiscal 2000 rose 52 percent to 167.2 billion drachmas ($457 million) versus 110.1 billion in 1999.
Bank of England holds rates at 5.75% for now
The Bank of England left its key interest rate steady at 5.75 percent on Mar 8, declining to cut rates despite a deteriorating global economic outlook.
Hungary Jarai-wider euro/forint band in 12-18 mos
The Hungarian forint's trading band could be widened in 12 to 18 months, recently appointed central bank governor Zsigmond Jarai told business daily Vilaggazdasag in an interview published Mar 8, 2001.
China shareholding banks must reform further-PBOC
Shareholding commercial banks must be encouraged to further improve their corporate management structure and financial services to develop in a sound, steady way, said the governor of the People's Bank of China.
RBA appoints Frank Campbell as assistant governor
The Reserve Bank of Australia has announced the appointment of Frank Campbell to the post of Assistant Governor, Corporate Services department.
Solomons stares into economic abyss- cbank chief
The Solomon Islands is just weeks away from economic collapse, with a real risk the South Pacific nation will simply disintegrate, the country's central bank governor, Rick Houenipwela, warned on Mar 7, 2001.
CBC gov favours listing of Taiwan firms in China
Perng Fai-nan, governor of Taiwan's central bank, said on Mar 7, 2201 that he personally endorses Taiwanese manufacturers that have set up companies in mainland China to get listed on the mainland's stock markets for fundraising purposes.
Performance of Norway's oil fund announced-Mar 9
Norway's Oil Fund will annouce its results on Mar 9, 2001 when it presents its annual report for 2000 at a press conference.
US rebound likely later this year-McDonough,Moskow
William McDonough and Michael Moskow, in separate speeches on separate continents, said on Mar 8 that a rebound was likely later in 2001.
Joint euro steering group to tackle counterfeiters
The European Central Bank, European Commission and Europol on Mar 7, 2001 said they had jointly developed an action plan to combat would-be euro cash counterfeiters.
Berlin cbank president opposes ECB rate cut-paper
The European Central Bank shouldn't move to cut interest rates before euro-zone inflation reaches 2.2%, Landeszentralbank president Klaus-Dieter Kuehbacher said in an interview.
Russia cbank says too soon to ease forex sale rule
Russian Central Bank Chairman Viktor Gerashchenko said in an interview published on Mar 7, 2001 that it was too early to reduce the percentage of foreign currency receipts that Russian exporters are required to sell in exchange for roubles.
Japan foreign reserves fall in Feb on weak euro
Japan's foreign reserves, the largest in the world, fell in Feb 2001 for the first time in six months, hit in part by a decline in the euro, a Finance Ministry (MOF) official said on Mar 7.
RBA cuts official cash rate by 25 bps to 5.50%
The Reserve Bank of Australia announced on Mar 7, 2001 it had cut the official cash rate target to 5.50 per cent, from 5.75 per cent, but was criticised for past policy mistakes by the prime minister.
Mussa to step down as IMF economic counsellor
Michael Mussa is to step down as the IMF's Economic Counsellor and Director of the Research Department at the end of his current term in the position, Managing Director Horst Kohler announced on Mar 7, 2001.
Fed says U.S. economy grew sluggishly early 2001
The U.S. economy grew at a "sluggish to modest" pace at the start of the 2001, helped by slightly stronger consumer spending as retailers cut prices to clear their shelves, the Federal Reserve said on Mar 7, 2001 in its Beige Book.
Greenspan celebrating 75th birthday on March 6
Alan Greenspan, chairman of the US Federal Reserve, celebrates his 75th birthday on Mar 6, 2001, having served thirteen and a half years at the top of the US central bank.
Sjahril, Akbar discuss reshuffle at Bank Indonesia
Bank Indonesia Governor Syahril Sabirin plans to meet Speaker of the House of Representatives Akbar Tandjung on Mar 6, 2001 to discuss the list of candidates proposed to replace deputy governors Achwan and Dono Iskandar.
Bank of Canada cuts key rate to 5.25 pct from 5.75
The Bank of Canada on Mar 6, 2001 cut the bellwether bank rate to 5.25 percent from 5.75 percent,and the overnight rate to 5.0 percent from 5.5 percent, saying weakening confidence could delay the economy's recovery in the United States and damage Canada…
EU committee on Lamfalussy report want 'call back'
The EU's Committee on Economic and Monetary Affairs Committee on Mar 6, 2001 adopted a motion for a resolution on the Lamfalussy report on securities regulation, which will be submitted to a vote in plenary session in Strasbourg on Mar 14.
S.Africa still unaware of new MPC policy-Mboweni
South African markets are still not fully aware of the fact that the central bank has introduced a new monetary policy regime which focuses on inflation targetting, central bank governor Tito Mboweni said.
Kazakh cbank says lower taxes boon for economy
Kazakhstan's central bank on Mar 6, 2001 welcomed an order by the president to cut key taxes and said this was likely to slash inflation, boost bank loans to the economy and help sustain the Central Asian state's growth.