Central Banking
Norges Bank supports MeritaNordbanken's buy
The Norwegian central bank, Norges Bank, said Thursday it recommends to the Norwegian banking and insurance authority that Nordic Baltic Holding and its unit MeritaNordbanken (S.MNB) be allowed to acquire Christiania Bank og Kreditkassen (Y.CBK).
Timetable set for Bank Indonesia reform
The Indonesian parliament vowed Thursday to speed up deliberations on crucial changes of management and legal governance at the country's central bank.
Duma committee recommends FBK for cenbank audit
The Duma Banking Committee made a decision at a closed meeting today to recommend that the Duma approve the FBK company as a subcontractor of Deloitte & Touche for the audit of the central bank's annual report for 2000 at a session of the lower house on…
Bundesbank predicts soft landing for US economy
Signs of a gradual slowdown of the US economy are increasing, the Bundesbank said in its latest monthly report, citing the "sharp" decline in residential investment and government spending as the main contributions to the "tangible" slowdown in third…
Chile Q3 GDP grew 5.8% in quarter - central bank
Gross domestic product (GDP) for Chile, which is recovering from a recession, grew 5.8% in the third quarter of this year versus the same period last year, the central bank said on Thursday.
Zambia October annual inflation up to 28.6%
Zambia's annual inflation rose to 28.6% in October from 27.7% in September and 25.9% in August, the Bank of Zambia said on Thursday. The figure was higher than the October inflation rate of 24.3% given by the Treasury earlier in the week.
SNB sees gold as good diversification tool
The Swiss National Bank still sees gold as a good tool to diversify its reserves even though the central bank is gradually selling off half its original holdings of the metal, SNB Chairman Hans Meyer said.
Manila c.bank sets body to check money laundering
The Philippines central bank said on Thursday it would set up a six-member committee to evaluate reports on suspicious bank transactions as part of its efforts to fight money laundering.
MP's criticised by BoE Governor
Bank of England Governor Eddie George has criticised MP's for being too aggressive when they select new members of the monetary policy committee. George thinks that MP's tactics could put-off good candidates from accepting a post with the MPC.
IMF warns Brown not to increase spending
The International Monetary Fund's report on the health of the UK economy, published yesterday by the Treasury, warned Gordon Brown, the UK Chancellor, that private spending needs to slow down before the economy can accommodate an increase in public…
Costa Rica to maintain exchange rate policy
Costa Rica's central bank said on Thursday it would continue with mini-devaluations of its currency against the dollar, despite complaints that it makes local business less competitive.
HKMA Yam on the future of the financial industry
Joseph Yam, chief executive of the Hong Kong Monetary Authority, has written a number of articles in his regular column the HKMA website on the technological revolution now in full flood. In this week's column, he imagines what life might be like for the…
Russian and Iranian central banks sign agreement
Today, the central banks of Russia and Iran signed a collaboration agreement. The agreement outlines cooperation between the banks in developing trade and economic cooperation between Russia and Iran.
Taiwan central bank says forex policy unchanged
Taiwan's central bank said on Wednesday it would maintain its policy of "dynamic stability" in the foreign exchange market after surprisingly allowing the local dollar to fall to a 19-month low.
Zdenek Tuma likely to become new CNB chief
Zdenek Tuma will become the head of the Czech National Bank, according to information published in today's daily press, replacing Josef Tosovsky who moves to the BIS Financial Stability Institute as of December 1.
Italy MTS to adopt RTGS system soon
MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.
Slovak central bank two day policy meeting
The board of the National Bank of Slovakia will hold a two-day meeting on current and 2001 monetary policy on Thursday and Friday, central bank spokesman Jan Onda said on Wednesday.
A$ bounces back from record lows
The Australian dollar bounced back from this week's record lows against the US dollar on Wednesday, buoyed by talk of central bank support in the options market.
New vice presidents suggested for Hungary cenbank
Hungarian daily newspaper Nepszava gave a list of the likely nominees for the post of new vice presidents at the National Bank of Hungary after the tenure of the current President Gyorgy Suranyi expires on March 1.
UK's MPC voted 9-0 for unchanged rates in November
The Bank of England's monetary policy committee (MPC) voted unanimously for a second month running in November to leave interest rates unchanged at 6%.
Russia central bank to develop smart card market
Sergei Mikhailov, deputy director of the information systems department of the central bank, has announced that the bank is interested in developing the smart card market.
Liquidity gridlock feared from Japan's RTGS launch
Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.
Credit Suisse says RBNZ won't change cash rate
New Zealand's Reserve Bank is expected to leave the official cash rate unchanged early next month because of uncertainty about the country's medium-term inflation outlook, Credit Suisse First Boston (NZ) Ltd. said Wednesday.
Wahid won't interfere with Bank Indonesia
Indonesian President Abdurrahman Wahid will not interfere in negotiations over changes to the law governing the central bank, his spokesman said on Wednesday.