Central Banking
$10bn loan for Turkey goes through
US - The IMF yesterday finalised a package of $10bn in new lending for Turkey. Arguing that it needs the loan to cover the fall off in tourist revenue and the effects of a flight to quality following September 11, Turkey had asked for $12bn.
Japan leaves rates unchanged
JAPAN - As expected, the Bank of Japan made no change to its monetary policy today, following its two-day meeting.
Bank of Poland under fire
POLAND - A Legislative tussle puts central bank's independence into question.
Speech by Anthony Santomero of Philadelphia Fed
SPEECH - Remarks by President Santomero of the Federal Reserve Bank of Philadelphia before the Frontiers in Services Conference, Bethesda, MD, 26 October.
Speech by Roger Ferguson of the Federal Reserve
SPEECH - Remarks by Federal Reserve Board Vice Chairman Roger W. Ferguson, Jr at the American Institute of Certified Public Accountants National Conference on Banks and Savings Institutions, Washington, D.C., 8 November.
The Resolution of International Financial Crises
RESEARCH - Joint paper from the Bank of England and the Bank of Canada. By Andy Haldane of the International Finance Division, Bank of England and Mark Kruger of the International Department, Bank of Canada, November 2001.
The work of setting interest rates
FEATURE ARTICLE - By Svein Gjedrem, Governor of Norges Bank, the central bank of Norway, in Finansavisen, 9 November.
Bank of England Inflation Report November 2001
REPORT - The Bank of England has published its inflation report for November 2001.
Argentina needs effective not unthinking support
ARTICLE - Ever since the emerging market financial crises of the 1990s, many in the international financial community have expressed deep scepticism about large financial assistance packages for countries in distress.
Britons still hold £540m in eurozone currencies
UK - Britons are hoarding more than £540m-worth of eurozone currencies, but only half the population realises the cash will be impossible to spend after February.
Bankers call for strict limits on bailout cash
CANADA - The Bank of England and Bank of Canada have launched a paper arguing for strict limits on International Monetary Fund bailouts for crisis-hit countries.
Russia c bank tightens banks' gold export controls
UK - The Central Bank of Russia published a directive Thursday obliging commercial banks to submit information on their export of gold ingots to the State Customs Committee within 10 days of the metal leaving the country.
ECB Issing sees euro-zone recovery, CPI fall in 02
GERMANY - European Central Bank chief economist Otmar Issing Monday reiterated his expectation that the euro-zone economy will recover next year.
Fed's Ferguson - US economy resilient
US - The U.S. economy appears to be shaking off the devastating impact of the 11 September attacks, says a key member of the U.S. Federal Reserve.
Fed's Santomero - Bank regulation may be a benefit
US - In response to the rhetorical question "does bank regulation help bank customers?" Anthony Santomero, president of the Federal Reserve Bank of Philadelphia, said "Sometimes yes. Sometimes no. It all depends."
Brown's proposals for reform of the IMF
UK - UK finance minister Gordon Brown says the IMF should be reformed and given more scope to pass judgement on member countries' economies.
Bank of Japan under pressure
JAPAN - The Bank of Japan was again under pressure from politicians as its two-day policy meeting began today. Worsening economic figures, despite cuts in the lending rate and injections of liquidity by the bank, have led to calls for inflation targeting.
Euro preparations are "catching up":Duisenberg
Belgium - Wim Duisenberg, the European Central Bank president, speaking at the European Union's Committee of the Regions yesterday said that small and medium-sized enterprises (SMEs) were "rapidly catching up" in time for Euro-day when notes and coins…
King: Little chance of UK recession
UK- Presenting the Bank's latest inflation report, Mervyn King, the bank's deputy governor, put the chances of recession at only one in 10.
Bank of Korea hosts Asian central bank meeting
SOUTH KOREA - The Bank of Korea will today host the "14th Pacific Basin Central Bank Conference" at its headquarters in Seoul the central bank said.
Euro level does not reflect"inner strength"
JAPAN - ECB Vice President Christian Noyer speaking at a financial symposium in Tokyo for the introduction of euro notes and coins, said that there was room for the euro to appreciate.
Speech by Horst Kohler, Managing Director, IMF
SPEECH - Address by Horst Kohler, Managing Director, International Monetary Fund, St. Michael, Barbados, 5 November.
Bank of Canada Review Autumn 2001
RESEARCH - Predictability of Average Inflation over Long Time Horizons by Allan Crawford. Short summary.
Speech by the Vice-President European Central Bank
SPEECH - Speech by C. Noyer, Vice-President of the European Central Bank, at the 30th Anniversary of the Association of Foreign Banks' Representatives, Frankfurt, 8 November.