Central Banking
Euro goes to court over trade mark dispute
EUROPE - The European Commission will be forced to defend the design of the euro symbol in court today less than six months after the introduction of the single currency. The emblem has become the subject of a trademark battle with Thomas Cook and…
Australia calls for regulation overhaul
AUSTRALIA - Australia on Wednesday called for increased co-operation among national securities regulators after revealing that local investors had been cheated of at least A$400m in just three years by illegal offshore telemarketing scams.
European Central Bank Working Paper
RESEARCH - G-7 Inflation forecasts by Fabio Canova, June 2002.
Figures show Argentina's economy shrinking
ARGENTINA - Argentina's economy shrank 16% during the first three months of this year the government has revealed, plunging the country ever deeper into a recession that has now lasted for three-and-a-half years.
US Fed scare proves to be a false alarm
US - Staff at the Washington headquarters of the US Federal Reserve have been allowed back into their offices after an earlier bomb scare proved to be a false alarm.
Brazil maintains steady interest rates
BRAZIL - Brazil's central bank yesterday maintained its prime interest rate at 18.5 per cent for the third consecutive month after recent market turmoil began fuelling inflation fears.
Super regulator
FEATURE - The idea of a super regulator for SA's banks, insurers, asset managers and financial markets has been around for three years. Finance Minister Trevor Manuel told Parliament more than a year ago that he planned to create one, but his comments…
ECB Press Release
PRESS RELEASE - Schedules for the meetings of the Governing Council and the General Council of the ECB and the related press conferences in 2003, 20 June.
Vision not aggression says Polish c bank chief
POLAND - "There is no conflict between the Polish central bank and the government when it comes to real economic issues. What we see is the government's aggression against an independent state institution, something unheard of in the civilized world. In…
Effort made to bring Poland closer to eurozone
POLAND - The Finance Ministry and the Central Bank (NBP) have set up a joint group on the strategy of bringing the Polish economy closer to the Eurozone, which will discuss issues related to the zloty exchange rate strategy in the period of entering the…
Issing - Stability pact talk extremely detrimental
GERMANY - The debate on modifying the EU's stability pact is "extremely detrimental," said European Central Bank chief economist Otmar Issing in an interview with German weekly magazine WirtschaftsWoche.
SA Reserve Bank to learn about inflation targeting
SOUTH AFRICA - Experts from the South African Reserve Bank (SARB) are to learn more about inflation targeting from their Canadian counterparts, in terms of an agreement signed in Pretoria on Wednesday.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes from the Bank of England's MPC meeting 5 and 6 June, released 19 June. The committee acknowledged the continuing economic recovery in the United States and the euro area's modest 0.2% growth in the first quarter.
Extreme Contagion in Equity Markets
RESEARCH - IMF Working Paper by Jorge Chan-Lau, Donald Mathieson and James Yao of the International Capital Markets Department, 18 June. Their results suggest that contagion patterns differ significantly within regions with Latin America showing an…
Federal Reserve Bulletin, June 2002
REPORT - Profits and Balance Sheet Developments at U.S. Commercial Banks in 2001 William F. Bassett and Mark Carlson, released 18 June.
Speech by J Alfred Broaddus, Richmond Fed, 5 Jun
SPEECH - In a speech titled 'An Update on the Economy and Monetary Policy' Broaddus said that the outlook for the next several quarters was 'murky' but that the recovery seemed firmly in place.
Speech by U Backstrom of Sveriges Riksbank, 7 Jun
SPEECH - Backstrom said in a speech titled 'The importance of a well-functioning stock market' that in order to reduce the risk of financial market imbalances, it is important that we have a well thought-out legislative, regulatory and supervisory…
Speech by Stephen Nickell, Bank of England, 19 Jun
SPEECH - In the paper titled 'Monetary Policy Issues: Past, Present, Future' Nickell answered questions such as Has the MPC demonstrated a bias towards deflation?, and What are the challenges for the immediate future?
Interview - Luxembourg central bank's Yves Mersch
FEATURE - Luxembourg Central Bank governor Yves Mersch said the European Central Bank is awaiting hard evidence of an upturn in the euro zone's manufacturing sector before raising interest rates. In an interview with AFX News he also said the decision of…
Fraga - Single digit real interest rates feasible
BRAZIL - Central Bank Chairman Arminio Fraga said it is feasible for the next administration to achieve single-digit real interest rates, official news agency Agencia Brasil reported.
Independent NBP will consider weaker zloty
POLAND - President Aleksander Kwasniewski, who last week agreed to become a mediator between the government and the Monetary Policy Council (RPP), after meeting the latter on Tuesday, has confirmed his dedication to the independence of Poland's central…
Chinese central banker - card development vital
CHINA - The Vice-Governor of the People's Bank of China Xiao Gang said Tuesday that the increased acceptance of banking cards was vital to raising commercial banks' competitiveness and facilitating daily life for the public.
Argentina to offer bonds for savings
ARGENTINA - Thousands of savers in Argentina have been given a month to decide if they want to swap their bank deposits for government bonds.
IMF to support Uruguay and Brazil
US - The International Monetary Fund has moved to provide financial help to Uruguay and Brazil, both affected by the crisis in Argentina.