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Central bank cuts rates in Taiwan

TAIPEI - Taiwan's short-term money rates ended lower on 18 May after the central bank aggressively cut interest rates yesterday, 17 May, and the banking system's daily reserves showed a surplus from the previous session.

Currency Crises: the Role of Banks

This IMF working paper, by Piti Disyatat examines the aftermath of recent currency crises. Why did the developed countries which devalued during the ERM crisis fare so much better than those developing countries caught up in the Asian crisis of 1997-8?.

UK General Election - Labour pledges

UK - The UK Labour party published its election manifesto on 15 May. They review their changes made to the Bank of England and describe their policy on the single european currency, the euro.

UK General Election - Conservative pledges

UK - The UK Conservative party have published their manifesto. In it they spell out what they would do if elected to government in the general election to be held on 7 June. Michael Portillo,the shadow chancellor of the exchequer, sets out their policies.

Basel Accord set to be softened

COMMENT - Discussions are under way within the Basel Committee on Banking Supervision on how to lessen the impact of their new capital rules after complaints that the new accord would create impossible demands on banks during recessions.

Putting euro banknotes and coins into circulation

Speech - Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank delivered a speech at the Euro 2002 Information Campaign conference hosted by the Banco de Portugal on 15 May.

Readiness for euro may be falling

EUROPE - Fewer European companies say they are ready for the introduction of euro notes and coins now than a year ago, according to a survey of big businesses in the euro-zone.

Norges Bank keeps interest rates unchanged

NORWAY - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 16 May. Norges Bank's key rate, the sight deposit rate, remains at 7.00 per cent. The overnight lending rate also remains unchanged.

Fed sends clear signal of more rate cuts to come

US - Tuesday 15 May's interest rate cut of 0.5% by the Federal Reserve was the fifth consecutive half-point cut in short-term interest rates. Does this represent the end of the Federal Reserve's dramatic and unprecedented efforts to prop up the weakening…

Klaus makes visit to CNB

CZECH REPUBLIC - A meeting of Chamber of Deputies chairman Vaclav Klaus with the Czech National Bank (CNB) Board on 14 May at CNB's invitation can be understood as an expression of the central bank's readiness to shake hands and make up.

New M3 data allowed ECB cut says Issing

According to Otmar Issing, the European Central Bank's chief economist, the ECB's recent rate cut was facilitated by new money supply data, which showed M3 growing slower than the bank's reference rate.

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