Central Banking
Vietnam central bank agrees on bank merging plan
Vietnam's central bank has agreed in principle to the merger of two commercial banks but a final decision will be announced after merging procedures are completed, a bank official said on Friday.
Economic integration in the Korean peninsula
Marcus Noland, senior fellow at the Institute for International Economics, has written a paper called "Economic Integration in Koreas: Prospect and Risks" for the ICAS autumn symposium 2000 in Washington, DC.
India's RBI advocates cautious pension reform
The Indian government needs to move cautiously before letting the private sector manage pension funds, a top central bank official said on Friday.
IBRA speeds up sale of Salim corporate assets
The Indonesian Bank Restructuring Agency (IBRA) is speeding up the sale of corporate assets once owned by the Salim Group even as the two sides prepare to face off in a test of wills that could have severe ramifications for the country's economic…
RBI governor says policy juggling is the best
Many central banks around the world target price inflation, but the RBI has multiple economic targets, says Alan Beattie from the Financial Times.
BOK head sees no capital flight next year
The implementation of the second-stage foreign exchange liberalisation plan next year is unlikely to lead to a sudden flight of domestic capital to foreign countries, Bank of Korea governor Chon Chol-hwan said yesterday.
Japan FRC head urges BOJ broad view on easing
Japan's top financial regulator on Friday urged the Bank of Japan to take a broad view in deciding whether or not to ease monetary policy, implying he favoured an easing.
Thai bank chief calls for focus on banking bills
Thailand's central bank governor Chatu Mongkol Sonakul on Friday urged the next government to treat as a priority the passing into law of pending banking legislation.
Indonesia: 'Halt the case against Sjahril'
A lawyer representing suspended Bank Indonesia governor Sjahril Sabirin in the Bank Bali scandal said on Friday that prosecution should be halted since other defendants in the case had been declared not guilty by a district court.
Intervention was to punish speculators -Duisenberg
European Central Bank President Wim Duisenberg said on Thursday recent ECB forays into foreign exchange markets were not aimed at pushing the euro to any level but at punishing those speculating against the currency.
BoT governor calls for more transparency in banks
Thai central bank governor Chatu Mongol Sonakul Thursday urged for more transparency and stricter supervision in the banking sector to help control the amount of non-performing loans in the system.
El Salvador to use dollar as 'parallel currency'
El Salvador will allow the US dollar to circulate freely alongside its own currency in the new year under a monetary law sent to Congress by the president on Thursday.
Diusenberg says UK euro tests are irrevelant
European Central Bank chief Wim Duisenberg today dismissed Gordon Brown's five economic tests for joining the single currency as irrelevant and insisted that Britain would have to join the European exchange rate mechanism for two years before adopting…
ECB inflation above target for next 6 months
European Central Bank President Wim Duisenberg said on Thursday it could take six months for Eurozone inflation to fall back to the ECB's 2% goal.
SAMA introduces sliding brokerage fees
The Saudi Arabian Monetary Agency has introduced a new sliding scale of brokerage fees taking effect from 1 January 2001.
South Korea economy heads for slowdown
South Korea posted a strong growth rate of 9.2% in the third quarter, but analysts warn that the economy could begin looking much weaker in the fourth quarter because of increased bankruptcies for debt-heavy companies and resulting job losses.
Russia's gold reserves up on last week
Russia's gold and foreign currency reserves were $26.5bn on 17 November, up from $26bn on 10 November, the central bank said in a press release on Thursday.
IMF mission leaves Russia with no agreement
Russia is likely to get a frosty reception from the Paris Club of sovereign creditors after an International Monetary Fund mission left Moscow this week without reaching agreement.
Trichet tempers optimism on world economic growth
French central bank governor Jean-Claude Trichet Thursday tempered optimistic forecasts for world growth, saying there remain uncertainties as to economic conditions.
Nigeria cenbank cuts lending rate to banks to 14%
The Central Bank of Nigeria announced on Thursday it had slashed its benchmark minimum rediscount rate (MRR) by 200 basis points to 14%, saying this reflected the low level of inflation in the West African country.
CNB board makes no policy change at meeting
The Czech central bank (CNB) said on Thursday its regular governing board meeting had ended and no monetary policy decisions had been taken.
Cuba tests new waters in foreign debt relief talks
Cuban envoys, testing uncharted waters, met foreign government representatives on Thursday to discuss what could amount to a landmark deal to alleviate the pain of Havana's crippling foreign debts.
NBS raps Slovak government for spending plans
The Slovak central bank (NBS) has raised its 2001 inflation forecast to between 6.8% to 7.7%, local news agency SITA reported on Thursday, citing an NBS document commenting on the government's 2001 budget proposal.
Argentina awaits emergency package from IMF
An emergency economic package required by the IMF will be passed in full within 30 days, Jose Luis Machinea, Argentina's economy minister, insisted on Thursday.