News
Thailand cbank stops offshore investment fund
The Bank of Thailand has halted the launch of a new fund to help Thai investors invest abroad because of fears that it might encourage capital outflows and destabilise the exchange rate
Australia's Costello names McGauchie to RBA board
Former president of Australia's National Farmers' Federation Donald McGauchie has been appointed to the board of the Reserve Bank of Australia for a term of five years, Treasurer Peter Costello said on Mar 22, 2001.
Argentina seeks support for economic crisis plan
Argentine President Fernando de la Rua on Mar 22, 2001 urged a disaffected coalition partner to rejoin the Cabinet, in a call to muster support for a new plan to pull the country out of financial crisis.
Venezuela Chamber asks court to fix cbank rates
A Venezuelan business chamber has filed an injunction in the supreme court demanding that it nullify a May 1999 agreement allowing banks to set interest rates on a case-by-case basis, local daily El Nacional reported on Mar 22, 2001.
Brazil hikes rates to permit future cuts
The Brazilian central bank has pushed up interest rates to 15.75% protraying this as a defensive more, designed to allow future rate cuts
Russian bankers to participate in symposium
A delegation of Russian bankers and economists will participate in a three day symposium in India beginning on Mar 22, 2001.
Propping up the rupiah was 'right move'-deputy gov
Bank Indonesia has made the right move in propping up the rupiah, BI Deputy Governor Miranda S Goeltom said on Mar 22, 2001.
Swiss franc falls following SNB loosening
Following the SNB's rate cut yesterday the swiss franc has dropped on forex markets.
Fed disappoints markets with 50 bp rate cut
The US Federal Reserve cut interest rates on Mar 20, 2001 by half a percentage point to 5.0%, continuing its aggressive effort to resuscitate the faltering economy but disappointing investors who had hoped for more.
China c.bank chief urges banks to curb bad loans
China's central bank chief Dai Xianglong urged state-owned banks to reduce bad loans and repeated a ban on loans being funnelled to stock speculation, the official Financial News said on Mar 21, 2001.
RBNZ monetary policy review recommendations
Responding to an independent inquiry into monetary policy, New Zealand Treasury Department officials said on Mar 21, 2001 they will issue recommendations by month's end to Finance Minister Michael Cullen.
BOJ's Yamaguchi to visit Washington to attend FSF
BOJ deputy governor Yutaka Yamaguchi will visit Washington from Mar 22, 2001 to attend a meeting of the Financial Stability Forum, the central bank said in a statement on Mar 21, 2001.
IMF praises Croatia's economic programme
Croatia's authorities deserve to be praised for their three-year economic programme, the IMF's Stanley Fischer said on Mar 19, 2001 after the IMF approved a 14-month stand-by credit for $255 million for Croatia.
BoE ready to cut UK rates if necessary-minutes
Britain's central bank is ready to lower borrowing costs if the global economic outlook worsens or British consumer spending starts to ease, minutes of the Bank's last policy meeting showed on Mar 21, 2001.
Credit-card reform goes to the RBA
AUSTRALIA - On Mar 20, 2001, the Australian competition regulator handed the job of reforming Australia's credit-card system to Australia's central bank.
Philippines engages PWC to create PNB rehab plan
The Phillipines government has hired PriceWaterhouse Coopers to draw up a plan to rehabilitate partly state-owned Philippine National Bank in preparation for the sale of an 83% stake in the loss-making bank, Central Bank Governor Rafael Buenaventura said…
Thorpe leaves UK's Financial Services Authority
Phillip Thorpe is stepping down as managing director of the UK's Financial Services Authority and will be taking on a new role as president of the Futures Industry Institute based in Washington, DC.
BoJ switches to target monetary base
As expected, the Bank of Japan has reinstated its zero interest rate policy, but it has done this by switching its operational target to expand the money supply.
Indian Reserve Bank demands risk data
The RBI, responding to fears over the effects of market volatility on cooperative banks, has demanded information about their stock market exposures.
Bank of Finland Board Member under fire
Finnish newspaper reports parliamentarians' unhappiness with Bank of Finland board member, Sinikka Salo.
Belarus cbank cools on unification with Russia
No unification of Russian and Belarusian central banks says Prakapovich.
UKRAINE: Former deputy central bank chief detained
Reserves scandal claims former deputy governor
Study effects of gold lending says Italy's Santini
Central banks must study the effects of gold lending in order to see if they can raise returns on their portfolios without dirupting the market said the Banca D'Italia's Santini yesterday.
Chile and NZ advise on Indonesian central bank law
The central bank governors of Chile and New Zealand will arrive on April 4 to join two Indonesian experts in the discussion on how to amend Indonesia's central bank law.