Central Banking
Bank of England committee split 7-2 over rate cut
The Bank of England's monetary policy committee voted by 7 to 2 in favour of this month's surprise quarter-point cut in interest rates to 3.75 per cent, minutes of its meeting released on Wednesday showed.
PBOC says money supply continues fast growth
China's financial sector continued its momentum of good performance in January, with a faster growth in money supply and a stable exchange rate, according to the People's Bank of China (PBOC).
McDonough on Implementing the New Basel Accord
SPEECH - In the speech 'Implementing the New Basel Accord' William McDonough of the Federal Reserve Bank of New York said the success of the New Accord will be directly attributable to the enormous support and assistance provided by both bankers and…
Husain on State Bank Of Pakistan and Regulation
SPEECH - In the speech 'Regulatory Strategy Of The State Bank Of Pakistan' Ishrat Husain of the State Bank Of Pakistan said the two major determinants of functional efficiency of financial system are market structure and the regulatory framework and the…
Russia's central bank reduces interest rate to 18%
The Russian Central Bank reduced its refinancing rate from 21% to a record low of 18% from 17 February, having taken into account a slowdown in inflationary growth and the real level of interest rates on the Russian money market.
The Bank of Canada and the search for a new No. 2
ARTICLE - The Bank of Canada has received a wide range of inquiries from both inside and outside the bank to fill its No. 2 job, the central bank's selection committee chairman said on Friday.
Poland may join EU zone in 2006 says central bank
President of the National Bank of Poland (NBP) Leszek Balcerowicz sees the possibility of Poland's joining the European Monetary Union in 2006 provided that the standard two-year ERM2 period is shortened.
KC's Fed Reserve Bank joins economic conference
Economists from the Federal Reserve Bank of Kansas City will make presentations at a free conference Thursday in Jefferson City titled "Raising the Economic Speed Limit."
Bank of Japan Monthly Report, February 2003
REPORT - The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, February 2003, on 18 February. "Economic activity remains flat amid substantial uncertainty about the outlook for the economy," the report said. One…
Klein on Israel's economy after the elections
SPEECH - In the speech 'Israel's economy after the elections' David Klein of the Bank of Israel said that the economic package, announced following the election, would be difficult to implement. He likened the choices to Alice in Wonderland who found out…
Musical chairs at the ECB
ARTICLE - The plan to alter the ECB's voting council gets some attention here. The article says even if Europe's finance ministers agree to the rotation plan they should revisit the issue soon. Competency, not nationality, should be the key qualification…
Japan PM nearing decision on central bank chief
Prime Minister Junichiro Koizumi is near a decision on a successor for outgoing Bank of Japan (BOJ) Governor Masaru Hayami, whose five-year term ends 19 March, Chief Cabinet Secretary Yasuo Fukuda indicated Tuesday.
PM, Frenkel meet to discuss emergency economy plan
The likelihood of Israel's Finance Minister Silvan Shalom leaving the Treasury has risen after Prime Minister Ariel Sharon summoned former Bank of Israel governor Jacob Frenkel, chairman of Merill Lynch International, for a three-hour discussion on the…
Treasury wants Bank of Israel to refund bonuses
The director of wages at Israel's treasury, Yuval Rachlevsky, has instructed 800 workers at the Bank of Israel to repay their "efficiency bonuses," which total millions of shekels. Rachlevsky informed the bank's governor, David Klein, Monday.
EU Commission wants joint action by central banks
The EU Commission is in favour of a joint effort by all international central banks if a war in Iraq should weaken the world economy, financial daily Boersen-Zeitung said, citing an internal note from the EU's economic and monetary affairs commissioner…
Iranians turn to gold as war casts its shadow
Iran's central bank has introduced measures designed to bring down soaring gold prices, including easing procedures for the importation of gold and silver bullion, a bank official, Jalal Jalilian, was quoted as saying Tuesday.
Sveriges Riksbank Press Release
PRESS RELEASE - Allocation of the Riksbank's net income 2002, 14 February.
Sveriges Riksbank Press Release
PRESS RELEASE - Riksbank's annual report 2002; stronger krona reduced earnings, 14 February.
Austria's Tumpel-Gugerell tipped for ECB post
A report said the Austrian government is expected to officially submit Austrian central bank vice-governor Gertrude Tumpel-Gugerell's name in the next few days as the country's candidate to succeed Finland's Sirkka Hamalainen on the ECB's Executive Board.
No such thing as a free (or cheap) lunch at IMF
The International Monetary Fund will stop subsidising its cafeteria from 1 May. Part of the problem was World Bank staff flocking in from across the road for cheap nourishment.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this weeks special feature CentralBankNet looks at the recent court case which the BIS lost requiring them to pay more money to their small shareholders. The episode labels the BIS as "mean" and bought continued criticism of the BIS…
Knight on financial system stability
SPEECH - In the speech Bank of Canada Senior Deputy Governor Malcolm Knight talks about the importance of financial system stability and the close link between the latter and good economic performance.
Zambia's Fundanga on combating money laundering
SPEECH - In the paper 'The role of the banking sector in combating money laundering' Caleb Fundanga of the Bank of Zambia said at the Bank of Zambia, our challenge is to recognise that technology and globalisation has given money launderers an…
Interest rate warning on euro entry
Bank of England MPC member Kate Barker has called into question the economic case for joining the euro citing "difficulties in the European policy background and problems with the UK exchange rate".