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China FX reserves rising to $200bn-BusinessWeek
CHINA - China's foreign reserves will rise steadily, enabling it to hold its yuan peg to the dollar in the face of the weakening yen, US-based BusinessWeek magazine on Apr 3, 2001 quoted central bank Governor Dai Xianglong as saying.
Financial stability, deflation, & monetary policy
CENTRAL BANK RESEARCH - This working paper by Federal Reserve Bank of Richmond economist Marvin Goodfriend explores the relationship between financial stability, deflation, and monetary policy.He says that monetary policy is a fundamental source of…
What central banks can and can't do-RBNZ Don Brash
SPEECH - The Reserve Bank of New Zealand's Governor Don Brash is urging people to be realistic about what monetary policy can achieve. Speaking to the Trans-Tasman Business Circle in Sydney, Dr Brash said that "In recent years ... the public have come to…
BoE Plenderleith comments on sterling bond market
SPEECH - In a speech to a conference organised by the Association of British Insurers on Apr 2, 2001, Ian Plenderleith, executive director of the Bank of England and a member of the Monetary Policy Committee, reviews developments in the sterling non-gilt…
Danmarks Nationalbank Monetary Review
DENMARK - The Danmarks Nationalbank has released its quarterly Monetary Review, which includes a number of interesting articles written by the central bank's staff. There are two articles on risk management: one about managing interest rate risk in a…
New details on National Bank of Ukraine scandal
UKRAINE - New details have been provided on the charges of financial impropriety against the former deputy chairman of the National Bank of Ukraine, Volodymyr Bondar.
CFA franc withstood Ivorian turmoil - central bank
IVORY COAST - The CFA franc used by eight West African states stood up well to the turmoil in Ivory Coast after a December 1999 army coup and remains a solid currency, the head of the countries' common central bank said on Mar 31, 2001.
Pakistan cbank announce measures to boost reserves
PAKISTAN - Pakistan's central bank on Mar 31, 2001 announced measures to boost its foreign exchange reserves, a day after the International Monetary Fund released fresh money under a standby credit agreement.
South Korea's FX reserves dip to $94.44bn
SOUTH KOREA - The South Korea's foreign exchange reserves dipped by $890 million from a month earlier to $94.44 billion as of late Mar 2001, falling for the fourth straight month, the Bank of Korea said Apr 2.
GSIC cuts investments in tech companies
SINGAPORE - The Government of Singapore Investment Corp has reduced its interests in Malaysia's technology sector in the face of sluggish US demand for the country's electronics products.
BoJ new board member against targeting exch rate
JAPAN - The newest member of the Bank of Japan's Policy Board said on Apr 2, 2001 she was neither a monetary policy hawk nor a dove, but questioned whether orthodox policy could loosen deflation's debilitating grip on the economy.
Canadian regulator fakes website to warn investors
The Ontario Securities Commission, regulator of Canada's largest stock market, has established a fake website (www.NoRiskWealth.ca) as a cautionary demonstration to gulable online investors
BoC annouces monetary operations changes
CANADA - The Bank of Canada is changing two of its operational procedures relating to the Large Value Transfer System, effective Apr 2, 2001.
Hong Kong Exchange Fund results for the year 2000
HONG KONG - The Hong Kong Monetary Authority announced on Mar 30, 2001 the operating results of the Exchange Fund for the year 2000, with profits hit by a volatile investment environment.
BIS to open office for the Americas in Mexico City
LATIN AMERICA - The Bank for International Settlements announced on Mar 30 that it is planning to establish a representative office for the Americas in Mexico City.
New payment systems need cbank monitoring-ECB
SPEECH - New cross-border payments initiatives need to be closely monitored by central banks to ensure they are as safe and solid as dealing direct with central banks, a European Central Bank board member said on Apr 2, 2001.
IMF Koehler urges ECB to cut interest rates
EUROPE - International Monetary Fund Managing Director Horst Koehler called on the European Central Bank on Apr 2, 2001 to cut interest rates in order to help a slowing euro-zone economy.
IMF articles on reform and restructuring in Asia
ARTICLES - The International Monetary Fund has published the March issue of its quarterly magazine Finance and Development. There are six articles on reform and restructuring in Asia. Other articles on the role of capital in development, the effect of…
ECB MoU on payment systems and supervision
CENTRAL BANK REPORT - The European Central Bank issued a Memorandum of Understanding (MoU) on Apr 2, 2001 describing the specific arrangements for co-operation and information sharing between EU payment system overseers and banking supervisors in…
SNB's Bruno Gehrig speech on the euro
SPEECH - Bruno Gehrig, vice-chairman of the Swiss National Bank, gave a speech on Mar 27, 2001 in front of the Swiss Chamber of Industry and Commerce of the Southern Upper-Rhine Region about the euro two years on and its impact on the Swiss economy and…
Risk measurement and systemic risk conference
CENTRAL BANK CONFERENCE - On March 7-8, 2002, the Committee on the Global Financial System (CGFS), in co-operation with the Bank of Japan, the Board of Governors of the Federal Reserve System and the European Central Bank, will host, under the auspices…
Belarus, Russia can adopt single currency by 2005
RUSSIA - Viktor Gerashchenko, head of the Russian Central Bank, said during his visit to Mahilyow on Mar 30 that Belarus and Russia could adopt a single currency before 2005 provided there were necessary economic conditions.
Zambia cbank-debt relief conditions must be met
ZAMBIA - Zambia's central bank warned on Mar 30, 2001 that the southern African country faced a very difficult environment if it failed to meet conditions for a $3.8 billion debt relief package.
Iceland considering inflation target for two years
ICELAND - Iceland adopted an inflation target on Mar 28, 2001. Mar Gudmundsson, chief economist of the central bank, said to CentralBankNet that discussions about an inflation target had been going on for two years.