Central Banking
Distribution of euros to start tomorrow
GERMANY - The mass distribution in Europe of new cash in euros begins tomorrow, when France, the Netherlands and Ireland begin to sell packets of euro coins to the public. Other countries will follow in the days ahead.
Bank Indonesia hopes to sell subsidiary in Holland
INDONESIA - Bank Indonesia said six prospective investors have shown an interest in purchasing its wholly-owned subsidiary, Indover Bank in the Netherlands.
BOK head to visit Myanmar central bank
SOUTH KOREA - Bank of Korea Gov. Chon-Chol-hwan will travel to the Southeast Asian country of Myanmar till next Monday at the invitation of Kyaw Kyaw Maung, head of Myanmar's central bank.
Kelley resignation now official at Fed
US - Federal Reserve Board Governor Edward W. Kelley Jr. officially resigned Wednesday, saying it was time "to turn my attention to my family and other personal interests."
Three candidates progress in enlargement talks
EUROPE - European Union enlargement negotiations yesterday received a boost after three candidate countries concluded negotiations on the important "chapter" related to justice and home affairs.
ECB Monthly Bulletin, December 2001
REPORT - The European Central Bank has published its Monthly Report for December 2001, released 12 December. The report said euro zone growth was likely to stay weak early next year but that an upturn was expected over the course of 2002.
Koizumi firm on reform in spite of gloom
JAPAN - Junichiro Koizumi, Japan's prime minister, yesterday, Wednesday, said he would not waver on economic structural reform despite evidence of increasing gloom in corporate boardrooms across Japan about the recession-swamped economy.
Speech by William Poole of the St. Louis Fed Bank
SPEECH - Speech by William Poole*, President of the Federal Reserve Bank of St. Louis. Poole said in the speech titled 'Market Responses to Economic Stress' he has "no way to set a precise timetable for renewed growth," but agreed with "professional…
Speech by Michael Moskow, President, Chicago Fed
SPEECH - Speech by Michael H. Moskow, President and CEO, Federal Reserve Bank of Chicago. Michael Moskow says in the speech "We expect the economy to improve next year, although the timing is uncertain," but adds that "Looking ahead, we are likely to…
Federal Reserve Press Release - Interest rate cut
PRESS RELEASE - Federal Reserve FOMC monetary policy decision press release, 11 December, 2001.
US interest rates cut again to 1.75%
US - The US Federal Reserve has cut interest rates by a quarter of a percentage point to 1.75%.
Federal Reserve Press Release - Transparency issue
PRESS RELEASE - Federal Reserve Press Release, 11 December, 2001.
Japan tankan survey points to prolonged recession
JAPAN - Japanese business confidence sagged for a fourth straight quarter to a near three-year low in December, a key Bank of Japan survey showed on Wednesday, as big firms braced for a long recession and slashed spending plans.
Bank of Japan Tankan Report
REPORT - Bank of Japan Tankan Report, published 12 December 2001.
The Monetary Transmission Mechanism in Japan
RESEARCH - With voices at the Bank of Japan and Ministry of Finance suggesting that more radical monetary policy tools are used to counter Japan's current deflationary spiral and recession this IMF paper looks at how monetary shocks impact on the…
Parliament agrees to Sramko as nominee for c bank
SLOVAKIA - The Slovak Parliament voted on Tuesday to elect Ivan Sramko as Vice Governor of the central bank NBS.
Yam to receive degree of Doctor of Business
HONG KONG - Joseph Yam Chi-kwong, Chief Executive of the Hong Kong Monetary Authority, will receive the degree of Doctor of Business Administration, honoris causa.
New York Fed to reopen for public tours in January
US - The Federal Reserve Bank of New York, which has suspended tours since 11 September, will reopen to visitors in January.
SNB President - Strong Swiss Franc has advantages
SWITZERLAND - Swiss National Bank President Jean-Pierre Roth is convinced a strong Swiss franc benefits the country's economy, he told weekly magazine Facts in an interview to be published Thursday.
US Fed issues revisions to payments system risk
US - The Federal Reserve Board on Tuesday issued revisions to its policy statement on payments system risk that it said "should alleviate liquidity pressures" that were identified during a broad review of the policy.
Out-of-step BoJ board member helps constrain yen
JAPAN - A Bank of Japan policy board member suggested yesterday that the central bank should acquire at least Y200bn ( £1.1bn) of foreign bonds every month in an attempt to fulfil its legal duty to stabilise prices.
Prosecutors file charges against ex-Thai c bank
THAILAND - Prosecutors filed charges Wednesday against a former central bank chief for losses of 185.9 billion baht ($4.2 billion) in defending the baht against massive speculative trading in 1997 that plunged the country into financial crisis.
Speech by Michael Moskow, President, Chicago Fed
SPEECH - Speech by Michael H. Moskow, President and CEO, Federal Reserve Bank of Chicago at FABTECH International 2001, McCormick Place-South, Chicago, Illinois, 13 November.
Former US official proposes solvency crisis fund
ARGENTINA - While Argentina's perilous brush with bankruptcy has sparked a renewed debate on the idea of officially-sanctioned debt standstills, a former top official of the Federal Reserve and the Treasury Department on Monday proposed another way of…