Central Banking
Welteke sees no need for rate cuts now - report
PORTUGAL - Current European Central Bank interest rates are appropriate and there is no need for a cut at this time, Bundesbank President and ECB governing council member Ernst Welteke said in a newspaper interview published Friday.
Slovene gov't adopts Bill on the central bank
SLOVENIA - The Slovene government on Thursday adopted the bill on the Bank of Slovenia which aims to harmonise Slovenia's legislation in the field to that of the European Union. The bill has been sent to parliament, where MPs are to discuss it in second…
White House says interviewing Fed candidates
US - The Bush administration is interviewing candidates to fill two vacancies on the powerful seven-member Federal Reserve Board, a senior U.S. official said on Thursday.
IMF tells Argentina to cut spending
ARGENTINA - The International Monetary Fund (IMF) has returned to Argentina to discuss the framework of a new financial aid package for cash-starved government in Buenos Aires.
US keeps interest rates unchanged
US - The US central bank, the Federal Reserve, has left interest rates unchanged Wednesday at 1.75%, saying signs for an economic recovery were "promising".
Speech by David Dodge, Governor of Bank of Canada
SPEECH - In the speech titled 'Inflation Targeting During a Difficult Year' Dodge reiterated his view that the Canadian economy will grow between 1% and 2% in the year's first half and then accelerate. "As I have already noted, it is becoming clearer…
Dodge refuses to rule out common currency
CANADA - David Dodge, the Governor of the Bank of Canada, Tuesday, refused to rule out the possibility that Canada and the United States could share a common currency some day, though he said a number of tough conditions would have to be met first.
Bank of Canada - Press Release
PRESS RELEASE - Bank of Canada Governor reviews success of inflation targets, 29 January.
Federal Reserve Press Release, 30 January
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1-3/4 percent.
Speech by David Carse of the HKMA
SPEECH - In the speech made Thursday and titled '2001 End-Year Review and Prospects and Priorities for 2002' Carse said the challenging operating environment last year will have put pressure on the earnings of Hong Kong banks.
Globalisation forum kicks off
US - More than 3,000 of the world's movers and shakers are kicking off the World Economic Forum in the unaccustomed surroundings of bustling New York City.
Chaos in Kabul amid currency rumours
AFGHANISTAN - Afghanistan's currency markets have been plunged into chaos, amid reports that the Afghani could be abandoned temporarily for the dollar.
Court backs probe that hurts ECB hopeful Trichet
FRANCE - A French court refused on Thursday to scrap a banking scandal inquiry that is hurting Paris's hopes of making Bank of France Governor Jean-Claude Trichet president of the European Central Bank, a lawcourts official said.
Russian Ctrl Bk reserves $36.2B 25 January
RUSSIA - The Russian central bank said Thursday that its level of foreign-exchange and gold reserves dropped $300 million to $36.2 billion, in the week to 25 January.
Top civil servant to be new governor in Ireland
IRELAND - Mr John Hurley, the senior civil servant in the Department of Finance, will be the new governor of the Central Bank. The incumbent, Mr Maurice O'Connell, has indicated to the Minister for Finance, Mr Charlie McCreevy that he will be stepping…
Brazil to handle exchange interventions online
BRAZIL - Brazil's central bank will transfer intervention operations in the currency exchange market to an online system, Central Bank Monetary Policy Directory Luiz Fernando Figueiredo said late Wednesday.
ECB and BoE - distinguishing features
UK - Analysts often laud the speed of the Fed's response times, like the BoE's, to changes in the business climate, while they decry the supposed "slowness" and unpredictable nature of the ECB.
Speech by Horst Kohler, Managing Director, IMF
SPEECH - In his speech titled 'Working for a Better Globalization' Kohler urged Argentine authorities to develop a comprehensive and coherent economic strategy that the lender can back with loans.
IMF's Koehler urges coherent plan from Argentina
US - The head of the International Monetary Fund (IMF) on Monday urged Argentine authorities to develop a comprehensive and coherent economic strategy that the lender can back with loans.
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Parameters of Monetary Policy in India' Reddy said the central bank might consider a package of measures announcing a one-time reduction in the CRR to three percent, to expedite development of markets, accompanied by…
Speech by David Dodge, Governor of Bank of Canada
SPEECH - Dodge said in the speech titled 'Challenges and Changes in an Eventful Year' that an unhelpful depreciation of the Canadian dollar over recent weeks did not reflect the encouraging signs of a pickup in the economy and that the exchange rate was…
Press Release from the Bank of Canada
PRESS RELEASE - Bank of Canada Governor reviews key developments of last year, 28 January.
US economy shows unexpected strength
US - The US economy grew 0.2% in the last three months of 2001, official data has shown.
Bank of England - News Release
NEWS RELEASE - Financial Sanctions: Afghanistan (Taliban and Usama Bin Laden), 28 January 2002.