Central Banking
Russian central bank head expects same reserves
RUSSIA - Russia's gold and foreign exchange reserves will close this year at the same level they are at now, Central Bank chairman Sergei Ignatyev said on Monday.
Fed's McTeer: Faster economic growth 'essential'
US - Federal Reserve Bank of Dallas President Robert McTeer, who pushed unsuccessfully for lower interest rates at a Fed policy meeting last week, said on Monday it was essential for the U.S. economy to grow faster.
Banks must improve for new Sept 11-Swiss Nat Bank
SWITZERLAND - Financial institutions must take possibly costly steps to improve the global banking system's ability to handle another event like the September 11 attacks on the United States, a top central banker said on Monday.
Plastic Rs 500-notes coming soon in India
INDIA - Plastic money will soon gain currency in India. Currency notes, printed on a special, thin PVC (poly vinyl chloride) film, are likely to replace their paper counterparts from 2003.
Chicago Fed national activity index drops in Aug
US - The Federal Reserve Bank of Chicago said on Monday its National Activity Index fell in August to its lowest level since December 2001, dragged down by weakness in production and employment data.
NY Fed's McDonough says Brazil should be fine
US - New York Federal Reserve President William McDonough said on Monday that the crisis of confidence in Brazil would likely turn out all right.
Monetary Hawks and Doves
ARTICLE - In an article from the Ludwig von Mises Institute Mark Thornton, a senior fellow of the Mises Institute, suggests that differences occur in the propensity for Fed governors to be given the tag of either dove or hawk on their FOMC voting habits…
IMF, World Bank meetings in 2006 in Singapore
SINGAPORE - The International Monetary Fund and World Bank's annual meetings are likely to attract 15,000 delegates and S$30 million when they are staged at Singapore's Suntec City in 2006.
Thai cen bank - Banks must improve risk management
THAILAND - The Bank of Thailand has revised its regulations related to the way financial institutions review lending, loan obligations and related reporting.
Polish central bank confirms 2003 inflation target
POLAND - Criticism of the government's 2003 budget draft has begun to eat into some of its expectations. The Monetary Policy Council (RPP) and central bank are especially dubious with regard to the economic growth rate, set at 3.5 percent by Finance…
Egyptian foreign reserves rise to 14.147bn dollars
EGYPT - The Egyptian economy has rebounded by showing a marked improvement in June 2002 in comparison to the previous month, according to a report released by the Central Bank of Egypt.
Testimony of Fed V Chairman Roger Ferguson, 25 Sep
SPEECH - In his testimony titled 'The proposed Check Clearing for the 21st Century Act' Ferguson said that although an increasing number of payments are being made electronically, it was clear that checks will continue to play an important role in the US…
Speech by P M na Ayudhya, Bank of Thailand, 10 Sep
SPEECH - In the speech titled 'Central Bank Independence: What Does It Mean? The Bank of Thailand's Experience' Ayudhya quoted a former governor of the Bank of Thailand on the issue of central bank independence, "If the policy in question is so profound…
Speech by Lars Nyberg of Sveriges Riksbank, 16 Sep
SPEECH - In the speech titled 'IT in the financial sector' Nyberg said it was the case that IT, while increasing both the efficiency and security of the financial system in general and the payment system in particular, also increases operational risks.
Speech by Fed Chairman Alan Greenspan, 25 Sep
SPEECH - In the speech titled 'World Finance and Risk Management' Greenspan said a proper dispersement of risk will allow shocks to the overall economic system to be better absorbed and less likely to create cascading failures that could threaten…
Speech by Ernst Welteke of the Bundesbank, 24 Sep
SPEECH - In a speech titled 'Financial market disturbances: a challenge for monetary policy' Welteke said central bankers are a cautious lot. They do not easily buy into market euphoria nor do they buy into gloomy scenarios. To contain financial market…
Speech by Svein Gjedrem of Norges Bank, 20 Sep
SPEECH - Gjedrem said in the speech titled 'Current monetary policy issues' that together with prospects for low inflation internationally, the strong krone is the most important force acting as a counterweight to the sharp rise in domestic costs.
A Factsheet from the IMF - Money Laundering
FACTSHEET - The IMF and the Fight Against Money Laundering and the Financing of Terrorism, 31 August 2002.
A Factsheet from the IMF - Good Governance
FACTSHEET - The IMF and Good Governance, 21 August 2002.
Blejer set for Bank of England role
UK - Mario Blejer, former governor of Argentina's central bank, is heading for a calmer climate and will take up the post of director at the Bank of England's Centre for Central Banking Studies.
Russian Duma approves central bank board nominees
RUSSIA - The State Duma today confirmed seven nominees for the board of directors of the Central Bank of Russia.
BOK moves to curb excessive liquidity
KOREA - The central bank will reduce preferential credit to local banks during the fourth quarter of the year, in a move to control excessive liquidity in the market.
SARB reject call for changes to inflation target
SOUTH AFRICA - South African Reserve Bank (SARB) Governor Tito Mboweni on Wednesday dismissed calls for changes to the inflation target measure, and stressed the central bank had to remain vigilant against rising inflation.
Central bank says Swaziland slowdown continues
SWAZILAND - The tiny kingdom of Swaziland is two years into a slump and no end is in sight, its central bank has said.