Central Banking
Bank of England interest rate option study
CENTRAL BANK RESEARCH - In the first of a series of research papers published by the Centre for Central Banking Studies at the Bank of England, Richhild Moessner provides a survey of the structure and use of the over the counter options market focussing…
Kenya central bank governor Cheserem replaced
KENYA - Kenya's widely respected central bank governor Micah Cheserem has stepped down and been replaced by pensions official Nahashon Ngige Nyagah, the government announced on Apr 4, 2001.
Spain's Caruana-eurozone inflationary risks remain
SPAIN - Bank of Spain Governor Jaime Caruana said Apr 4, 2001 that inflationary risks in the euro zone are easing but continue to exist.
Austrian cbank says it sold 30 tonnes of gold
AUSTRIA - The Austrian National Bank said on Apr 5, 2001 that it had recently sold 30 tonnes of gold, ending speculation about who was behind sales that came to light in European Central Bank figures on Apr 4.
Limited boost to euro from Lithuania litas repeg
LITHUANIA - The euro will only get psychological boost from Lithuania's move towards pegging its litas to the euro as the accompanying shift in foreign exchange reserves is not seen generating much demand for euros.
African Development Bank gets new treasury head
AFRICA - The African Development Bank said on Apr 5, 2001 that Arunma Oteh, currently the manager of its investment division, had been appointed treasurer with effect from April 2.
Sri Lankan cbank amends finance firm rules
SRI LANKA - Finance companies in Sri Lanka will now be allowed to accept deposits from the public for up to five years instead of three years, the Central Bank of Sri Lanka said in a statement on Apr 5, 2001.
RBA Stevens optimistic on economic growth
AUSTRALIA - Reserve Bank of Australia assistant governor Glenn Stevens said on Apr 5, 2001 there is genuine uncertainty about Australia's short-term economic outlook, but he expected a return to normal rates of growth, possibly by mid-2001.
Norway c.bank keeps interest rates on hold
NORWAY - Norway's central bank kept interest rates on hold on Apr 4, 2001 and reaffirmed a neutral outlook for rates, in line with analysts' forecasts, after four hikes in key rates in 2000.
MAS promotes four senior officials
SINGAPORE - Effective April 1, Tharman Shanmugaratnam took office as the Monetary Authority of Singapore's new managing director, and three other officials were promoted to key positions, the central bank said in a statement issued late on Apr 4, 2001.
Bank of England cuts interest rates by 0.25%
UNITED KINGDOM - The Bank of England cut interest rates by another quarter point on Apr 5, 2001, bowing to pressure from tumbling stock markets and weakening economic data.
Danmarks Nationalbank Monetary Review
DENMARK - The Danmarks Nationalbank has released its quarterly Monetary Review, which includes a number of interesting articles written by the central bank's staff. There are two articles on risk management: one about managing interest rate risk in a…
BoE Plenderleith comments on sterling bond market
SPEECH - In a speech to a conference organised by the Association of British Insurers on Apr 2, 2001, Ian Plenderleith, executive director of the Bank of England and a member of the Monetary Policy Committee, reviews developments in the sterling non-gilt…
What central banks can and can't do-RBNZ Don Brash
SPEECH - The Reserve Bank of New Zealand's Governor Don Brash is urging people to be realistic about what monetary policy can achieve. Speaking to the Trans-Tasman Business Circle in Sydney, Dr Brash said that "In recent years ... the public have come to…
Financial stability, deflation, & monetary policy
CENTRAL BANK RESEARCH - This working paper by Federal Reserve Bank of Richmond economist Marvin Goodfriend explores the relationship between financial stability, deflation, and monetary policy.He says that monetary policy is a fundamental source of…
China FX reserves rising to $200bn-BusinessWeek
CHINA - China's foreign reserves will rise steadily, enabling it to hold its yuan peg to the dollar in the face of the weakening yen, US-based BusinessWeek magazine on Apr 3, 2001 quoted central bank Governor Dai Xianglong as saying.
SNB profits boosted by gold revaluation
SWITZERLAND - In its 2000 annual report released on Apr 3, 2001, the Swiss National Bank said that net profit for 2000 had jumped to 28.2 billion Swiss francs ($16.3 billion), boosted by a one-off 27.7 billion franc revaluation of gold holdings.
India's SEBI chairman likely to be replaced-paper
INDIA - The chairman of the Securities and Exchange Board of India (SEBI) D.R. Mehta is likely to be replaced as part of government changes after a recent stock market crisis, a financial daily said on April 3, 2001.
Malta cbank predicts steady growth-annual report
MALTA - The Maltese economy is expected to grow between four percent and 4.5 percent in 2001 after 3.8 percent in 2000, central bank governor Michael Bonello said on Apr 3, 2001.
Korea's KFTC-BoK assistant governor new president
SOUTH KOREA - The Korea Financial Telecommunications and Clearings Institute (KFTC) selected Yoon Gye-sub, the assistant governor of the Bank of Korea (BOK), as its new director at a general meeting held on Apr 4, 2001.
Australia cuts interest rates by 0.5%
AUSTRALIA - Australia's central bank on Apr 4, 2001 cut interest rates by half percentage point to boost consumer confidence and limit the impact of a global slowdown. It was the third reduction at board meetings in a row.
Risk measurement and systemic risk conference
CENTRAL BANK CONFERENCE - On March 7-8, 2002, the Committee on the Global Financial System (CGFS), in co-operation with the Bank of Japan, the Board of Governors of the Federal Reserve System and the European Central Bank, will host, under the auspices…
SNB's Bruno Gehrig speech on the euro
SPEECH - Bruno Gehrig, vice-chairman of the Swiss National Bank, gave a speech on Mar 27, 2001 in front of the Swiss Chamber of Industry and Commerce of the Southern Upper-Rhine Region about the euro two years on and its impact on the Swiss economy and…
ECB MoU on payment systems and supervision
CENTRAL BANK REPORT - The European Central Bank issued a Memorandum of Understanding (MoU) on Apr 2, 2001 describing the specific arrangements for co-operation and information sharing between EU payment system overseers and banking supervisors in…