News/Monetary Policy
IMF warns of deepening economic crisis in Zimbabwe
Zimbabwe faces a "deepening" economic crisis unless the government reverses its missteps of the past two years by cutting back on defense and public sector wages, the International Monetary Fund warned Wednesday.
Czech central bank concerned about external growth
A possible slowdown of Western European economies is identified as a risk to growth in the coming months, according to minutes released Tuesday by the Czech National Bank from the most recent policy meeting.
Manila may cut reserve requirements in January
Philippine central bank governor Rafael Buenaventura said the bank may delay lowering bank reserve requirements until January next year.
Brazil cbank chief loses cool in Congress hearing
Brazil's master of monetary policy, central bank chief Arminio Fraga, lost his calm demeanor for once on Tuesday in a rare outburst, slamming a left-wing lawmaker who accused the bank of not doing enough to cut interest rates.
Uruguay to see 2% growth in 2001
Uruguay's economy minister said Tuesday he expects the small South American economy to shake two years of recession and economic stagnation and grow by 2% in 2001.
Slovak cbank to lower reserve requirement in 2001
Some monetary policy instruments of the National Bank of Slovakia will undergo changes in the future, according to vice governor Elena Kohutikova.
Welteke against hasty Emu entry for new members
One day after the signing of the agreement in Nice, Bundesbank President Ernst Welteke has warned against the hasty acceptance of new members into the EU's monetary union.
US academic applauds S.Africa's monetary policy
A leading Harvard University academic endorsed the South African Reserve Bank's inflation targeting on Tuesday and said the country's monetary policy was in sound health.
Romania c.bank head sees 2001 inflation lower
Romania's central bank acting governor Emil Ghizari said on Tuesday inflation was expected to slow down to between 22% to 25% next year from an official estimate of about 40% in 2000.His prediction was in line with previous official forecasts.
Kuwait to study rate changes after moves abroad
Kuwait's central bank, under pressure to cut the discount rate to help the economy and a sagging stock market, said on Tuesday it would decide on changes after studying the impact of expected interest rate cuts abroad.
ECB's Quaden sees interesting debate on M3 goal
European Central Bank governing council member Guy Quaden said on Tuesday he could live with deviations from the bank's reference value for M3 money supply growth.
Study says EU membership might not boost growth
According to a Bank of Estonia study, Estonia's economic growth would not receive an automatic boost after Estonia joins the European Union.
Pakistan cbank says govt must meet IMF terms
Pakistan's central bank warned the government on Monday that it must strictly implement tough conditions set under an International Monetary Fund loan programme to avert a balance of payment crisis.
Banks to support Turkey, won't cut exposure - IMF
Banks engaged in Turkey will not reduce their financial exposure to the country, a senior International Monetary Fund official said on Monday.
Economic indicators are positive - Pakistan cbank
Vital economic indicators have shown positive development during the first quarter (July-September) of the 2000-2001 fiscal year, Pakistan's central bank said Monday.
Litas to be pegged amid preparations for EU
Lithuania, while preparing for its membership in the European Union, plans to keep litas pegged to dollar and later to euro, the board of the Bank of Lithuania announced after discussing its participation in the processes of Lithuania's preparation for…
Euro too weak for Britain - BoE's governor
Governor of the Bank of England Sir Edward George said Sunday that Britain cannot afford to contemplate joining the euro until it strengthens.
RBZ To announce new monetary policy measures
The Reserve Bank of Zimbabwe governor, Leonard Tsumba, is expected to announce new monetary policy measures for the year 2001 by the end of this month, a central bank spokesman said this week.
Crisis mgmt hit by joining euro, UK Lords say
The government's ability to manage the economy in a crisis could be hamstrung if Britain joins the euro, a House of Lords committee warned today.
Czech c.bank less concerned over crown strength
The Czech central bank is less concerned over the strength of the crown currency as the country's economic recovery grows more robust, CNB vice governor Ludek Niedermayer said in an interview on Friday.
Swiss franc ends off lows after SNB holds fire
The Swiss franc ended off lows against the dollar after the Swiss National Bank left interest rates unchanged, as expected, and said it detected no major inflationary pressure on the horizon.
Kenyan rate bill MP wants cenbank chief to go
A Kenyan parliamentarian whose controversial bill to control commercial bank interest rates was passed by parliament this week now wants the country's central bank governor to resign.
SNB to publish studies to explain forecasts
Swiss National Bank chairman Hans Meyer said on Friday the bank intended to publish several studies in the near future which would explain its forecasting activities in some detail.
Banker confirms downturn of Costa Rican economy
The President of the Central Bank of Costa Rica, Eduardo Lizano, confirmed Friday a dramatic deceleration of economy with GDP growth down to 1.4% this year from 8.2% of the year before.