Central Banking
Argentina to unveil new economic plan on Friday
ARGENTINA - Congressman Jorge Remes Lenicov will be sworn in Thursday as Argentina's new economy minister and on Friday he will unveil a new series of economic measures, Buenos Aires Governor Carlos Ruckauf confirmed in an interview.
ECB interest rates unchanged
GERMANY - As widely expected the European Central Bank left interest rates unchanged with officials largely focused this week on the launch of euro notes and coins.
Bank of Israel head rules out intervention
ISRAEL - Despite the shekel's weakening to a record low against the dollar, Bank of Israel Governor David Klein said the central bank would not intervene in the foreign currency market.
Polish government demands rate cut
POLAND - The Polish government will take its demand for a cut in interest rates directly to the central bank's rate-setting monetary policy council by January 12th, said government spokesman Michal Tober following a cabinet meeting on Wednesday.
Sri Lanka central bank to cut staff by one-third
SRI LANKA - Sri Lanka's central bank said on Thursday it was shedding one-third of its staff under a restructuring scheme funded by the World Bank.
Speech by Horst Kohler, Managing Director, IMF
SPEECH - Remarks by Horst Kohler, Managing Director, International Monetary Fund. At a news conference in Luxembourg Mr. Koehler said the U.S. economy should recover in the second quarter next year. The European economy will turn around by mid-2002, he…
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President hints at end of peso peg
ARGENTINA - Argentina has its fifth president in less than two weeks, veteran politician Mr Eduardo Duhalde immediately reaffirmed the moratorium on paying the country's US$132 billion ($258.9 billion) in public debt until its shattered economy resumes…
Euro changeover "better than expected"
GERMANY - The European Central Bank reported on Wednesday that the launch of euro cash was progressing smoothly despite exceptionally high demand for the new notes. "The euro cash changeover is going smoothly, even better than we had expected," said ECB…
ECB Welteke: conditions for growth in place
GERMANY - European Central Bank council member and Bundesbank President Ernst Welteke said that monetary policy has cleared the way for investment and economic growth in an interview published on Wednesday.
BOJ's Hayami - yen's fall too steep
JAPAN - The yen's recent fall has been too steep for his liking but an exchange rate of 130 to the dollar would benefit Japanese exporters, Bank of Japan governor Masaru Hayami said in a newspaper interview.
Trichet says ECB leadership succession not an issu
FRANCE - Bank of France Governor Jean-Claude Trichet, also a member of the governing council of the European Central Bank, said on Wednesday the leadership succession of the ECB was not an issue.
Speech by Dai Xianglong, People's Bank of China
SPEECH - Speech by Dai Xianglong, Governor of the People's Bank of China, 20 November.
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A tale of two central banks
ARTICLE - The annals of 2001 will feature many heroes and villains. Among them will be central bankers.
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China to use IMF's GDDS
The official Xinhua news agency announced Monday that China plans to use the International Monetary Fund's General Data Dissemination System to improve the quality of its statistics.
Duisenberg to stay: "I like what I'm doing"
GERMANY - Wim Duisenberg said on Monday that he would not quit his job as President of the ECB for at least another year.
Speech by Iceland's Birgir Isleifur Gunnarsson
SPEECH - Birgir sleifur Gunnarsson, Chairman of the Board of Governors, Central Bank of Iceland, 31 October.
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Hanke's View on Argentina
In a paper published earlier this month by Cato in their foreign policy series Professor Steve Hanke outlines his views on solutions for the crisis in Argentina. In 1991 Professor Hanke advised the then Argentine government on the establishment of the…
Treasury publishes annual update on convergence
The Treasury last week published, and submitted to the European Commission,the UK's 2001 Convergence Programme, "Maintaining Economic Stability".This is the fourth annual update to the UK Convergence Programme publishedin line with the EU Stability and…
BOJ to provide special loans for failed bank
The Bank of Japan (BOJ) said on Friday that it had decided to provide special non-collateralised loans to failed second-tier regional bank Ishikawa Bank Ltd to ensure it will not run into liquidity problems.
Argentine president asks IMF for 'patience'
Argentine president Rodriguez Saa asked the IMF for 'patience' in dealing with the country's default as the central bank takes steps to alleviate debt repayment problems within the country. However, Argentine citizens seem to be expecting devaluation.