Central Banking
Bank of England - News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 7 February.
Dornbusch's Overshooting Model After 25 Years
RESEARCH - Second Annual IMF Research Conference, Mundell-Fleming Lecture, Kenneth Rogoff, Economic Counselor and Director of the IMF Research Department, 29 November 2001, (revised 22 January, 2002) released 7 February.
Testimony of US Treasury Secretary Paul O'Neill
TESTIMONY - Testimony of Treasury Secretary Paul O'Neill before the Senate Budget Committee, 7 February.
Speech from the Reserve Bank of India
SPEECH - The speech was by Shri V.K.Sharma and titled 'Indian Banking of Tomorrow'. In the speech he said Indian banks have always proved their adaptability to change and I am sure it would be possible for them to mould themselves into agile and…
Speech by Jamie Stewart of the New York Fed Bank
SPEECH - In the speech Stewart talks about shocks to the payments system resulting from 11 September. He calls the events 'unprecedented challenges to the operation of the payments system'.
Eighteen months of agony for ECB hopeful Trichet
FEATURE - As Wim Duisenberg announces the date when he will step down Bank of France Governor Jean-Claude Trichet has 18 months to fulfil France's dream that he will take Duisenberg's seat as president of the European Central Bank, the most powerful…
UK aids Czech laundering fight
UK - Britain is advising the Czech Republic on drawing up anti-money-laundering legislation and improving its financial controls as part of a EU-funded programme to be launched in Prague today.
China accord on how to oversee banks
CHINA - China yesterday, Wednesday, put to rest months of divisive debate on whether a separate supervisory body should be set up to oversee its banking system, deciding that a new bureau within the existing central bank would be sufficient to do the job…
BoE most transparent G7 central bank - economists
UK - The Bank of England is the most transparent central bank among the world's leading economies, according to a new ranking devised by two European economists.
Swedish Riksbank to publish intervention details
SWEDEN - Sweden's Riksbank, proclaiming greater openness than other central banks, said on Wednesday it will publish regular details of any currency intervention in future, formalising a practice introduced last summer.
Latvia parlt vote on cbank deputy head seen 14 Feb
LATVIA - A Latvian parliament commission said on Wednesday it approved financier Andris Ruselis as the candidate for the post of the central bank deputy president, with the parliament vote seen on 14 February.
Govt not mulling asking BOJ for further easing now
JAPAN - The government isn't considering asking the Bank of Japan to take additional monetary easing measures, top government spokesman Yasuo Fukuda said Wednesday.
Argentina delays floating peso
ARGENTINA - The Argentine Government has extended the closure of banks and foreign exchange centres for another two days, suspending plans to fully float the peso.
ECB Press Release
PRESS RELEASE - ECB recognises partners' valuable contribution to the smooth introduction of the euro banknotes and coins 5 February.
Speech by Tito Mboweni, Res Bank of South Africa
SPEECH - Mboweni said in the speech titled, 'Globalisation and implications for monetary policy in South Africa' that we are witnessing the global acceptance by political leaders of the independence of central banks as a critical factor for credible…
Testimony of US Treasury Secretary Paul O'Neill
TESTIMONY - In testimony to congressional lawmakers, Paul O'Neill, Treasury secretary, said: "We see more and more signs every day indicating that the seeds for a recovery are there, and only need nourishing to speed the process of putting Americans back…
Foreign banks play down euro importance to City
UK - Foreign banks operating in London believe that the City's success does not depend on the euro.
Banker calls for Asian free trade area
UK - The economies of south-east and east Asia should intensify efforts to build a regional free trade area to reduce their dependence on information technology exports to the US, according to Tadao Chino, president of the Asian Development Bank (ADB).
Japan ready to intervene in markets
JAPAN - Japan's government said yesterday it was prepared to take "decisive action" to prevent a further fall in the stock market after the Nikkei 225 benchmark index closed at an 18-year low.
Speech by Wim Duisenberg, President of the ECB
SPEECH - In a speech at Maastricht University, Duisenberg said that the E.U.'s budget rules as laid down in the Stability and Growth Pact are a key element for a well-functioning monetary union.
FSA steps up split caps probe
UK - The city watchdog has stepped up its investigation into split caps, with the announcement that it has started swooping on investment firms involved in the controversial trusts.
Speech by Eddie George, Bank of England Governor
SPEECH - In the speech George said "With inflationary pressures subdued, monetary policy generally can, for the time being at least, afford to remain reasonably supportive" - although he added that he made "no predictions as to what that may mean for…
BoE's George hints at reluctance to raise rates
UK - Sir Edward George, governor of the Bank of England, hinted last night that he does not support a rapid rise in interest rates.
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Indian Banking: Paradigm Shift in Public Policy' Reddy said the country's central bank desired to move to a 3 per cent cash reserve ratio (CRR) regime.