Central Banks
Bank urges balancing act over payments competition
The Bank of England has warned the UK government that its plans to increase competition in the payments business must be balanced by the need to preserve the stability of the financial system.
Fed helps Bank with rate study
The Bank of England, the UK central bank, has commissioned an investigation by a senior official of the US Federal Reserve to assess the way it sets interest rates, says an article in today's Financial Times.
US Fed needs to improve communication-Fed's Poole
The Federal Reserve needs to improve its communication skills so that financial markets can better understand what US central bankers are thinking, St Louis Fed President William Poole said on Thursday.
Ukraine c.bank sees hryvnia steady near-term
Ukraine's fragile hryvnia currency is likely to remain steady in the next two months, backed by stronger demand ahead of the year-end, Serhiy Yaremenko, the head of the central bank currency regulation department, said on Thursday.
Oil, minimum wage hike led to Brazilian rate hold
Despite a slowdown in inflation in recent months, concerns about the impact of a hike in the minimum salary and volatile oil prices led Brazil's central bank to keep its key interbank interest rate steady, according to minutes of last week's monetary…
Russia and Belarus move towards single currency
The Russian Federation government has approved the draft agreement between Russia and Belarus concerning the introduction of a single currency and the establishment of a single centre of issue of the Union State.
Taiwan central bank attacks HSBC over T$ forecast
Taiwan's central bank lashed out at Hong Kong and Shanghai Banking Corp (HSBC) on Thursday, saying it had consistently undervalued the local currency in its foreign exchange forecasts.
Turk c.bank decision sparks money market turmoil
Turkey's central bank on Thursday shut off the taps of the emergency funding it has carried out over the last six trading days to ease a liquidity crunch sparked by fears of a banking sector crisis.
HKMA to provide four-month issuance schedule
The Hong Kong Monetary Authority will provide a quarterly schedule of its issuance plans for Exchange Fund bills and notes, beginning with the December-to-March period, it said Thursday.
Comoros economy grew 1.1 % in 1999 -central bank
Economic growth in the Indian Ocean Comoro islands slowed to 1.1% in 1999 from 1.2% in 1998, the central bank said on Thursday.
Moldova central bank cuts main interest rates
Moldova's central bank said on Thursday it had cut its main interest rate for short-term and medium-term credit to 27.5% from 28.5% with immediate effect.
BOJ decides to leave monetary policy unchanged
The Bank of Japan decided at a top policy-making meeting Thursday to leave its monetary policy unchanged until the next session slated for 15 December.
New payments system in Bosnia ready by Dec 31
In its monthly newsletter, the Central Bank of Bosnia and Herzegovina gives an update on its preparations for setting up a new payments system in Bosnia and Herzegovina.
Risk of Greek economy overheating-Deutsche Bank
Monetary loosening ahead of Greece's entry into the Eurozone is combining with strong private sector investment activity to risk the Greek economy overheating, according to Deutsche Bank.
Yugoslav Dinkic explains priorities to parliament
Mladjan Dinkic, the newly-appointed governor of the Yugoslavia's central bank, has told the Federal Assembly that one of the bank's top priorities will be the full convertibility of the dinar, which will eliminate the black foreign exchange market.
Montenegro won't let Yugo c.bank resume control
Montenegro said on Wednesday it would not allow the Yugoslav central bank to resume control over the coastal republic's monetary policy now that it was firm in its aim to gain independence and international recognition.
Bank of Greece sees lower inflation, wants reforms
Greece's central bank said on Wednesday inflation should drop below 3% in the second half of 2001 but called for faster structural reforms to improve competitiveness once the country enters the Eurozone.
Belgium growth at 3.1% in 3Q down on 2Q
The Belgian economy grew 3.1% on the year in the third quarter, down from 4.6% in the second quarter and from 3.5% in the third quarter of 1999, the Belgian National Bank said Wednesday.
Malaysia can keep lid on interest rates - Zeti
Malaysia can keep a lid on interest rates because of its low inflation and monetary policy is likely to remain accomodative to growth, Bank Negara governor Zeti Akhtar Aziz said on Wednesday.
Thai c.bank says dlr/baht market back to normal
The Bank of Thailand said on Wednesday the dollar/baht market had returned to normal after gridlock over the past week as onshore banks scrambled to pare credits to offshore counterparties and funding costs soared.
Bbk Zeitler: Continue reforms to reverse weak euro
The euro's current weakness is "completely surmountable" if national governments in the 11-nation euro area continue to press ahead with structural reforms, Bundesbank council member Franz-Christoph Zeitler said Wednesday.
Sarkissian: Price stability will be maintained
The head of Armenia's central bank said that stability in the financial markets will be maintained when the government spends 8 bln drams from the privatisation fund in order to cover social expenses and other financial inflows in December 2000.
Romanian c.bank to cut min. reserve rates-bankers
Romanian commercial bankers said on Wednesday the central bank was expected to gradually cut the rate on minimum reserve requirements starting this year.
Belarus c.bank to cut key rate to 80% 1 December
Belarus's central bank said on Wednesday it would lower its key refinancing rate to 80% annually from 85 percent, effective December 1.