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Technological Innovation and Banking Industry-BoJ
The Institute for Monetary and Economic Studies at the Bank of Japan has published a final report based on a forum the bank held in Dec 1997 on "Technological Innovation and Banking Industry/Monetary Policy". The report looks at the development of…
Card-based payment systems in US and Japan-IMES
Ronald J. Mann, a visiting scholar at the Bank of Japan, has written a paper entitled "Card-based payment systems in the United States and Japan". He explains why credit and debit cards have so far proved unsuccessful in Japan compared to the US, and…
Colombian central bank profits jump 61 pct in 2000
Colombia's Central Bank made profits of 1.45 trillion pesos, or $642.6 million, in 2000, up 61 percent from 1999, mainly due to better performance on its foreign reserves.
Time Inconsistency Problem in Monetary Policy?
A paper by Stefania Albanesi, V.V. Chari and Lawrence J. Christiano titled "How Severe is the Time Inconsistency Problem in Monetary Policy?"
'Inflation, Financial Development'-Peter Rousseau
Peter L. Rousseau from Vanderbilt University and Paul Wachtel from the Stern School of Business, New York University have published an article called "Inflation, Financial Development and Growth". The last decade saw an explosion in research interest on…
Breaking the Cycle of World Poverty-Horst Koehler
Horst Kohler, Managing Director of the International Monetary Fund gave a speech at the conference on "Child Poverty, Education, and Health" in London, February 26, 2001. He says he has learnt a lot from his discussions with sub-Saharan African leaders…
Lessons from Japan's Experience in Monetary Policy
The chief representative of the Bank of Japan in Frankfurt says in a speech that the 1990s has been a period of learning for the central bank, not as many people say "a lost decade". The bank now has a greater focus on the role of asset prices and the…
Bank of Israel cuts lending rate by 0.2 pct point
The Bank of Israel said on Feb 26, 2001 it was lowering its key lending rate by 0.2 percentage points to 7.5 percent, its eighth straight monthly reduction and the 14th in the past 16 months.
Swedish inflation risks receding-Riksbank
Sweden's central bank, the Riksbank, said on Feb 26, 2001 that inflation risks appeared to have diminished since it raised interest rates in December 2000, although the outcome of the current wage round could affect the picture.
IMF to assess Finnish financial sector
Finland will help the International Monetary Fund to prepare an assessment of the Finnish financial sector, which is a new IMF tool for monitoring member country economies, the central bank said on Feb 26.
Romania must step up inflation fight-c. bank chief
Romania has to step up its battle against inflation but needs to do so gradually to avoid shocks from a sudden reduction, Mugur Isarescu, the governor of the central bank (BNR), was quoted as saying on Feb 26, 2001.
Indonesia, IMF agree on c.bank independence-Ramli
Indonesia's chief economics minister Rizal Ramli said on Feb 26, 2001 he had reached agreement with the International Monetary Fund on the need to maintain the central bank's independence but stopped short of saying a long running deadlock had been…
Polish rate cuts hinge on meeting '03 inflation
Polish policy-makers will not cut interest rates until confident there is no danger to the medium-term inflation target, central bank chief Leszek Balcerowicz said in a newspaper interview published on Feb 26, 2001.
Pakistan cuts GDP forecast to below four percent
Pakistan's central bank on Feb 26, 2001 slashed its economic growth target for the second time in four months, because of slower growth in agriculture, high oil prices and the falling rupee.
Singapore MAS to brief on mon policy twice a year
The Monetary Authority of Singapore said on Feb 26, 2001 it will hold a media briefing twice a year on its monetary policy in an effort to raise transparency.
ECB says output of euro banknotes is on schedule
The European Central Bank insisted that production of euro banknotes is on schedule, rejecting a newspaper report that said printing problems could leave European nations short for the introduction of the notes on Jan. 1, 2002.
Fed executive picked for position with US Treasury
In a widely expected move, Peter Fisher, the executive vice president in charge of markets for the Federal Reserve Bank of New York, has been appointed as the Domestic Finance Official at the US Treasury.
Turks count cost of crisis, austerity looms
In the first official price hike on Feb 26 sparked by last week's shock 36 percent lira devaluation against the dollar, prices rose 10 percent on state monopoly Tekel goods including cigarettes, salt and Turks' favourite aniseed-flavoured alcoholic drink…
Oman poised to tighten loan rules again
Barely five months after easing the regulations for personal bank loans, the Central Bank of Oman seems poised to tighten them again.
Slovak exchange rate mechanism to change for EU
Slovakia has to change its exchange rate regime before joining the European Union, Slovak Finance Minister Brigita Schmoegnerova said on Feb 25.
Compulsory reserve ratio maintained in Vietnam
The Vietnamese central bank will not reduce the compulsory reserve ratio for foreign currency deposits of less than 12 months despite proposed amendments from some local banks since earlier this month.
BOJ Yamaguchi signals possible mon policy ease
Bank of Japan Deputy Governor Yutaka Yamaguchi says he is now more cautious about prospects for the Japanese economy than he was in 2000, signaling the central bank has not ruled out a possible relaxation of its monetary policy, Kyodo News reported.
BSP to tighten insider lending rules BIS standard
The Bangko Sentral ng Pilipinas (BSP) will tighten its rules on loans to banks' directors, officers, shareholders, or related interests (DOSRI) to further strengthen the banking system and meet international standards.
Buba Remsperger - German growth seen slower in '01
Economic growth in Germany in 2001 will be slower on average than in 2000, Deutsche Bundesbank Chief Economist Hermann Remsperger said Feb 23, 2001 in an interview with German news agency VWD.