News
Zambia c.bank sets forex controls to help kwacha
Zambia's central bank introduced limited foreign exchange controls on Tuesday to stem the decline in its currency this year, drawing swift protests from companies in the country.
Romania PM to return to c.bank, pressure to resign
Romania's outgoing Prime Minister Mugur Isarescu said on Tuesday he would return to his former job as governor of the central bank despite opposition from the new government.
Estonia cbank, govt clash over draft watchdog bill
The Estonian central bank on Tuesday expressed concern over government approval earlier in the day of a draft bill, aimed at merging the securities, banking and insurance watchdogs into one financial inspectorate from January 2002.
Bank of France warns banks on telecoms exposure
The Bank of France warned French banks about their exposure to Europe's heavily-indebted telecoms companies on Tuesday, adding its voice to a chorus of concerned regulators and central bankers.
Polish parliament backs Balcerowicz for c.bank
Poland's Sejm public finance committee on Tuesday voted in favour of the candidacy of Leszek Balcerowicz for head of the Polish central bank.
Ukraine c.bank mulls relaunching currency futures
Ukraine may relaunch its currency futures market next year but the central bank will still hold the foreign exchange market in a tight grip, a senior central bank official said on Tuesday.
Austrian central bank expects record 2000 profit
Austrian central bank expects to post a record profit in the region of Sch 22bn in 2000. Of this figure, around Sch 18bn will be transferred to the federal government in the form of a dividend. This compares with a profit of Sch 18bn in 1999.
EDS, Orga win Austrian gov't smartcard contract
The Austrian government yesterday provisionally awarded a much delayed smart card contract to US-based Electronic Data Systems Corp and German chipcard manufacturer Orga Kartensysteme. The smart cards will be issued to the approximately eight million…
BOJ's Hayami says Japan recovery stalling
Improvement in Japanese corporate sentiment has stalled and the nation's economic recovery has slowed, the nation's central bank chief said on Tuesday, confirming what financial markets have suspected for weeks.
Clamor for cash in bank closings in Cambodia
A top Cambodian central bank official said Monday that the bank will ensure that the liquidation of recently closed banks is done by the law, but depositors at those banks still do not know when, if ever, they will get their money back, according to The…
RBI begins on a plastic note
The Reserve Bank of India is in the process of introducing plastic currency. The plan is to print polymer notes which are clear, durable and moisture, water, sweat, oil and water-proof.
Thai central bank plans electronic bond settlement
The Bank of Thailand said it plans to introduce an electronic settlement system for bond and debt paper transactions in late 2001 as part of its policy to develop the Thai money market.
Chile on track for growth of close to 6%
Chile yesterday looked on course for economic growth this year of close to 6% after stronger than expected gross domestic product figures for October.
Threat to bankers over BIS offer
Twelve central bankers have been threatened with legal action by a Paris-based shareholders' group unless they vote against terms offered by the Bank for International Settlements to buy back the 13.73% of its shares in private hands.
ECB publishes updated Target information guide
The European Central Bank said it is publishing Monday an updated version of the information guide for credit institutions using the euro-zone's Target payment system.
Putin's aide has dim view of Russian cbank policy
This year's actual rouble rate exceeded the projected level by some 40%-50%, Andrey Illarionov, Russian President Putin's adviser for economic affairs, said at the joint session of the Duma banking and budget committees, at which the monetary policy of…
Greek EMU entry may boost euro M3 growth-CSFB
Greek membership of the euro next year could make a significant impact on euro zone money supply growth, according to researchers at Credit Suisse First Boston.
HKMA launch final stage of dollar clearing system
The Hong Kong Monetary Authority launched the final phase of its US dollar payment system on Monday, offering paper cheque clearing and delivery versus payment settlement of US dollar denominated debt.
Estonia makes promises in additional memo to IMF
The government and the Bank of Estonia pledge in an additional economic policy memorandum to the International Monetary Fund signed in November to use all extra income to establish a fiscal surplus in 2001.
Nepal's central bank moves to reform ailing banks
Nepal's central bank said on Monday it had asked the Himalayan kingdom's two state-owned banks to be cautious in granting new loans, a move aimed at protecting the ailing institutions.
Taiwan mulls monetary policy framework change
Taiwan's Central Bank of China (CBC) governor Perng Fai-nan on Monday said the central bank is mulling adjusting its monetary policy-making framework. But Perng said it remains debatable whether an "inflation targeting" framework, which is adopted in New…
RBI seen cutting India rates next year-JP Morgan
The Reserve Bank of India is likely to cut its benchmark bank rate in the financial year starting April 2001 due to a more stable rupee, comfortable money market liquidity, record foreign exchange reserves, and an easing bias in global interest rates, JP…