Central Banking
Interview with Nancy Stokey - The Region
Nancy Stokey and her University of Chicago colleague and partner, Nobel Laureate Robert E. Lucas Jr., chose to spend a semester's sabbatical at the Minneapolis Fed this autumn. Arthur Rolnick, the Minneapolis Fed's director of Research, took this…
When Genius Failed: The Rise and Fall of LTCM
This new book by Roger Lowenstein about Long-Term Capital Management suggests that the lenders were clueless as to the nature of the LTCM's assets and strategies and equally ignorant as to LTCM's total indebtedness. Rather, the banks relied on the brand…
Back From The Brink: The Greenspan Years
Journalist Steven Beckner, who has covered monetary policy since the beginning of the Greenspan years, has written a useful book that goes beyond the regular elliptical utterances of the Fed chairman. Reviewed by Kevin L. Kliesen, Economist, Federal…
Venezuela to slow bolivar depreciation in 2001
Venezuela's central bank will announce a slower depreciation rate of the bolivar currency and possibly a new central parity rate within the next two weeks, senior bank officials said Thursday.
Zimbabwe: Interest rates drop as inflation falls
This article is from Zimbabwe's Financial Gazette said that a surprise fall in Zimbabwe's inflation rate should be viewed a temporary. The subsequent reductions in interest rates by the central bank are therefore short-term, says the article.
Spanish inflation sticks at 5-yr high in November
Spanish inflation rose to 4.1% annually in November, stuck around a near five-year high amid fears of a price-wage spiral and a civil sector protest over loss of purchasing power.
E-commerce revitalise financial markets-Gemcard MD
Electronic commerce encourages active financial markets as financial markets are most vibrant when they can attract large and small investors, locally and globally, said Alex Nwuba from GemCard Nigeria.
S. Korea to end certain exchange controls in 2001
The South Korean government will end restrictions on the amount of foreign currency travellers can take out next year, but those who carry more than US$50,000 should first secure Bank of Korea approval, the finance and economy ministry said Thursday.
Economists agree-Bush should befriend Greenspan
This article by Jacob M. Schlesinger from the Wall Street Journal says that the new US president, George W Bush, should learn to cultivating the US Federal Reserve chairman Alan Greenspan.
Bank of France predicts robust growth
Despite growing signs of a slowdown in the U.S. and sputtering growth in Germany, the French economy remains remarkably robust, economists say.
Bank Indonesia debt to government is 24.5bn rupiah
Deputy governor of Bank Indonesia Ahjar Iljas said the central bank has issued a promissory note valued at Rp24.5 trillion ($2.7 billion) in a bid to settle the controversy over Bank Indonesia Liquidity Support (BLBI).
BOC's Liu says restructuring plan approved by PBOC
Bank of China President Liu Mingkang said on Thursday its proposed restructuring plan had been approved by China's central bank, the People's Bank of China.
What the BoE can learn from the Federal Reserve
In a "Letter to the Editor" in the Financial Times, Blair Baker says what the Bank of England can learn from the Federal Reserve, following Don Kohn's report on the problems with the BoE inflation forecast.
SNB must guard against currency appreciation-OECD
The monetary policy of the Swiss National Bank is currently appropriate for domestic economic conditions, but the SNB must monitor the effect of European Central Bank rate policy on exchange rates and guard against too sharp a rise in the Swiss franc…
Yugo bank governor unveils new banknotes
Yugoslav National Bank governor Mladjan Dinkic unveils the newly designed Yugoslav banknote of 100 dinars during a presentation of the new Yugoslav paper money and coins in Belgrade.
Lebanon considers changes to money laundering bill
The Lebanese Cabinet discussed a draft law to counter money-laundering on Wednesday but shelved the issue for a future meeting after some ministers proposed changes to the proposal.
ECB Vanhala says Eurozone inflation close to peak
European Central Bank governing council member Matti Vanhala on Thursday reiterated that the euro zone was close to its inflation peak but said the risks to price stability were still "upwards".
Uganda cenbank says to tighten monetary policy
Uganda's central bank on Thursday announced a rise in commercial bank reserve requirements from next week in a bid to stem inflationary pressures from the weakening shilling.
Duisenberg comments on Greek EMU entry
European Central Bank president Wim Duisenberg made the following comments at a news conference on Thursday concerning Greece's entry into the eurozone: "It is indeed an historic moment and a very satisfying and gratifying moment."
Uganda govt approves Mutebile as new bank governor
The Ugandan parliamentary committee on appointments yesterday approved the nomination of Mr. Emmanuel Tumusiime Mutebile as the new Bank of Uganda governor.
Banco do Brasil accumulates a profit of R$919.4m
Banco do Brasil, the Brazilian central bank, accumulated a net profit of R$59.8m in November, down from R$94.7m during the same month in 1999. However, accumulated profits for the first eleven months of 2000 stand at R$919.4m, up on the consolidated…
China intensifying supervision of foreign banks
People's Bank of China, China's central bank, is stepping up the regulation of foreign-invested banks management.
Trial nears for Indonesian central bank governor
The trial of Indonesia's central bank governor over a year-old banking scandal looked imminent after the government said on Wednesday it would hand over documents relating to the case to a court next week.
Hungary PM names new finance minister, c.bank head
Hungarian Premier Viktor Orban said on Wednesday he would appoint Mihaly Varga finance minister in place of Zsigmond Jarai, who would become central bank governor as of March 1.