Central Banking
Queen Elizabeth Knights Fed Chairman Greenspan
SCOTLAND - U.S. Federal Reserve Chairman Alan Greenspan received an honorary knighthood from Queen Elizabeth II on Thursday and said he would always cherish the honour.
Czechs unlikely to get euro soon
CZECH REPUBLIC - The Czech Republic will not be able to adopt the European single currency before 2007 at the earliest because of its huge budget deficit, the country's new finance minister has said.
Brazil sees Sept current account surplus of $1 bln
BRAZIL - Brazil's central bank on Thursday forecast a current account balance of payments surplus of $1 billion in September.
New deadline for balanced budgets splits euro club
FRANCE - A proposal by Brussels to allow euro-zone states more time to balance their budgets has blown up into a big row between EU countries that have been making sacrifices and four members -- France, Germany, Italy and Portugal -- that were falling…
IMF hails Russian banking reforms
RUSSIA - The International Monetary Fund has hailed measures in Russia to reform the country's banking system.
IMF calls for boost to global confidence
US - International Monetary Fund Managing Director Horst Koehler said on Thursday that global growth had been hurt by financial market uncertainty and called on world financial leaders to do their bit to restore calm.
Swiss central bank to sell 283T of gold
SWITZERLAND - The Swiss National Bank (SNB) plans to sell a further 283 tons of gold by the end of September 2003 under its plan to dispose of 1 300 tons of unneeded reserves, the central bank said on Thursday.
Speech by Governor, State Bank of Pakistan, 1 May
SPEECH - In the speech titled 'Economic Reforms and Macroeconomic Management in Pakistan (1999-2001)' Husain said the strategy for economic revival Pakistan pursued since December 1999 was designed to include four key elements, restoration of…
Speech by M R P Devakula, Bank of Thailand, 26 Aug
SPEECH - In the speech Devakula said that as financial regulators, one of the Bank of Thailand's main tasks is to provide a prudential framework ensuring the overall improvement of risk management of financial institutions. In the case of Thailand…
Speech by Fed Chairman Alan Greenspan, 25 Sep
SPEECH - In the speech titled 'Policy Coordination' Greenspan reflected on the historic association between the Bank of England and the Federal Reserve with ties cemented in the 1920's. Greenspan said that London has stayed on top in the provision of…
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 24 September.
Argentina threatens loan default
ARGENTINA - Argentina has raised the pressure on international lenders to agree a new cash lifeline, threatening default if extra money is not forthcoming.
IMF report sees global economy recovering
US - Although downside risks are rising, the global economy is slowly recovering from a worldwide recession, the International Monetary Fund said Wednesday.
CBR to introduce for ex swap deals on 26 Sept
RUSSIA - The Central Bank of Russia is introducing on 26 September an additional instrument to the bank refinancing system based on the use of foreign currency swap deals.
Poland's central bank cuts rates
POLAND - Poland's central bank on Wednesday reduced its key interest rates by a half percentage point, making its sixth cut this year against the backdrop of a sluggish economy and falling inflation.
RBI liberalises exchange control procedures
INDIA - The Reserve Bank of India on Wednesday said banks authorised to deal in foreign exchange may permit importers in India to avail short-term credit for periods less than three years and amount not in excess of $20 million per import transaction…
Central Bank of Iceland Governor resigns
ICELAND - Central Bank of Iceland Governor Finnur Ingolfsson has been appointed Chief Executive Officer of the insurance company VS Ltd and has resigned as Governor of the Central Bank of Iceland.
Ireland's central bank launches insurance guide
IRELAND - A new information leaflet for consumers about buying investment and insurance products was launched by the Irish central bank on Tuesday.
Polish gov't freezes top state officials salaries
POLAND - The government decided to freeze salaries of top state officials in 2003, government spokesman Michal Tober told a news conference on Tuesday. The freeze includes all senior central bank staff.
Honour Greenspan and Lady Prudence
ARTICLE - When the Queen knights Alan Greenspan tomorrow at Balmoral it will raise profound questions for the world's other central bankers, reported the London edition of the FT on Wednesday in an article.
Fed holds rates steady but with rare split vote
US - The Federal Reserve on Tuesday held interest rates steady despite a hesitant economic recovery and worries about a possible war with Iraq. In an unusual move the meeting saw dissent, with two members calling for a rate reduction. This was the first…
Speech by Governor, State Bank of Pakistan, 10 Jun
SPEECH - In the speech titled 'Is State Bank of Pakistan doing its job?' Husain said since July 2001 Pakistan has been able to maintain stability in its exchange rate. Had the country not developed the cushion of reserves that it has, there was a strong…
Speech by T P Naranubala, Bank of Thailand, 28 Jun
SPEECH - In the speech titled 'Preparing for Rapid Growth' Naranubala said that this year we are seeing most South East Asian economies firmly back on the path of recovery. They are poised to regain their growth potentials. He adds that uckily, the…
Speech by Eugenio Domingo Solans, ECB, 17 Sep
SPEECH - Domingo Solans said in a speech titled 'European financial integration and stability' that the introduction of the euro has changed the terms of reference on which an appropriate solution for the best framework for banking regulation and…