Central Banking
Bank of England Inflation Report, November 2002
REPORT - The Bank of England published its quarterly Inflation Report for November 2002 on Wednesday. In the report the bank recognises the fragility of the world economy and continued stock market volatility. The report reveals that inflation is…
Webster quits as accounts watchdog
US - William Webster on Tuesday quit as head of the US's new accountancy regulator, a casualty of a debacle that has already forced out Harvey Pitt, chairman of the Securities and Exchange Commission.
Economists' expectation of UK euro entry falls
UK - Financial markets indicate expectations of Britain joining the euro are receding as a result of the lack of any movement in the opinion polls, according to economists at HSBC.
Transparency and the Bank of England
LETTER - Letter published by the Financial Times, 13 November.
Bienvenidos Sr Greenspan
ARTICLE - Ever so briefly yesterday, the capital of the world financial system moved to Mexico City. Alan Greenspan, Andrew Crockett, Wim Duisenberg and a bevy of other central bankers were all in town for a seminar on macroeconomic stability organised…
Banks face tough test ahead on international stage
JAPAN - Japan's banks, soon to face unprecedented pressure to clean up their massive bad loan mess, already have a lot on their plate. But their job now looks set to get even harder, thanks to new capital accounting standards the Bank for International…
Risk-profile onus falls on India's banks
INDIA - The RBI has rolled out Risk Based Supervision (RBS) for banks. The central bank has sent a template of prudential norms to all banks to independently measure their prudential status.
China beats USA as Korea's largest export market
SOUTH KOREA - China has surpassed the United States in terms of its share of South Korea's export market in the first nine months of this year, the Bank of Korea said Wednesday.
Greenspan: Economy has hit 'soft patch'
US - Federal Reserve Chairman Alan Greenspan said on Wednesday the U.S. economy was weighed down by worry over possible war and falling stock prices but not by dangerous imbalances that tended to herald recession.
EU disciplines Germany over deficit, warns France
BELGIUM - The European Commission publicly censured Germany and France over their budgets on Wednesday, saying Berlin would exceed EU deficit limits this year and Paris risked following suit next year.
Mboweni takes inflation plan to the people
SOUTH AFRICA - South African Reserve Bank (SARB) Governor Tito Mboweni took the central bank's views on inflation to the public on Wednesday, stressing the bank would not try to meet its targets "at all costs".
Gramlich on smart growth, at the Cleveland Fed
SPEECH - In a speech to the Cleveland Fed Conference made on 7 November, Edward Gramlich of the Federal Reserve said the fundamental principle of smart growth is that development should be of a holistic nature. That is, rather than just paying attention…
Bies on effective accounting and disclosure
SPEECH - In the speech 'Effective Accounting and Disclosure for Financial Transactions and Financial Institutions' made on 7 November, Susan Bies of the Federal Reserve said a restoration of public confidence in the U.S. capital markets has begun, but…
New mandates for management of equity portfolios
PRESS RELEASE - Norges Bank Investment Management is today announcing new external active mandates for the Government Petroleum Fund. The new mandates are within the consumer staples, consumer cyclicals, media and services sectors, 12 November.
Bank of Mauritius - Annual Report 2002
ANNUAL REPORT - The Bank of Mauritius has published its Annual Report for the year ended 30 June 2002.
War cloud hangs over global economy recovery in 03
MEXICO - The global economy is set for recovery next year, once uncertainties surrounding the possibility of a war on Iraq are resolved, the head of the Bank of International Settlements said on Monday.
French urge Britain to speed entry to the euro
FRANCE - The French government has made a private plea to senior British MPs to speed British entry to the euro, promising flexibility in negotiations on the terms of British entry.
ECB sticks to rates decision
SWITZERLAND - European Central Bank board member Eugenio Domingo Solans stressed the ECB's independence Monday and said it will not be pressured into cutting rates by political leaders in euro zone member states.
Taiwan's central bank cuts key rate to record low
TAIWAN - The Central Bank of China (CBC) announced Monday a further cut in its key interest rates by a quarter percentage point with the aim of defusing the threat of falling prices and maintaining export competitiveness.
Nigerian banks need code of operations, CBN chief
NIGERIA - Worried about recent experience in the global financial sector where corporate scandals have become the order of the day, governor of the Central Bank, Chief Joseph Sanusi, has asked banks to draw up a national code guiding operations of…
CBR's 5 priorities in modernising banking system
RUSSIA - The Central Bank of Russia has determined five priorities that it will follow in modernizing the banking system, Andrei Kozlov, the bank's first deputy chairman, said at a round-table meeting on banking reforms Monday.
MP says Malta central bankers comments 'offensive'
MALTA - Malta's Labour Party has slammed Central Bank governor Michael C Bonello after he claimed that Malta would benefit economically from European Union membership.
Yugoslavia trying 'to impose' dinar on Montenegro
YUGOSLAVIA - Ljubisa Krgovic, the chairman of the Montenegrin Central Bank Council, said Monday that the dinar cannot be the only means of payment between Serbia and Montenegro.
Ukraine premier wants National Bank chief removed
UKRAINE - Ukrainian Prime Minister Anatoliy Kinakh has asked President Leonid Kuchma to dismiss the chairman of the National Bank, Volodymyr Stelmakh for poor cooperation between the National Bank and the government, the official web site of the Cabinet…