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Thai Chatu Mongol dismisses Cabinet rumours
Thailand's central bank chief Chatu Mongol Sonakul Feb 9, 2001 said the purpose of his meeting on Feb 7 with Prime Minister Thaksin Shinawatra was to discuss the future of the indebted bank rescue fund and not his possible appointment as finance minister…
Argentina to monitor banks amid laundering claims
The Argentine government said on Feb 9, 2001 it had set up a commission to monitor the country's banks in response to a U.S. congressional probe into the role of U.S. banks in laundering dirty money from drug dealing, corruption and organized crime. The…
Ex-head Bulgarian cbanker charged with fraud
Stoyan Shoukerov, former head of the Foreign Exchange Operations Department of the National Bank of Bulgaria (BNB), has been charged with abuse of office in connection with the refinancing of commercial banks with 49 million dollars, the Special…
G20 cbank deputies meet in Istanbul Feb 18-19
The meeting of G-20 international group of Deputy Finance Ministers and Central Bank Deputy Governors will be held in Istanbul between February 18-19, 2001. Treasury Undersecreatriat said on Feb. 9 that the meeting aimed to prepare the ground for the…
China's cbank sets rules for fines and penalties
China's central bank has set new rules specifying the kinds of penalties it can assess, in a bid to standardize its regulatory practices, the official Xinhua News Agency reported on Feb 9, 2001. The People's Bank of China rules specify the sizes of fines…
Swedish Riksbank says rate policy right for now
Sweden's central bank said on Feb 9, 2001 inflation prospects were favourable and its inflation target achievable in coming years, and there was no need right now for further monetary policy measures."Today, inflation prospects seem to be favourable,"…
Russia Duma ratifies single currency with Belarus
The Russia State Duma budget committee on Feb 9, 2001 decided to recommend that the lower house of parliament ratify the agreement between Russia and Belarus on the introduction of a single currency and on setting up a single monetary emissions center…
US plan to widen euro debt holding is logical-ECB
The European Central Bank said on Feb 9, 2001 plans by the U.S. monetary authorities to widen their holdings of government securities in the euro zone to include countries other than Germany were a logical step following the arrival of the euro. "This is…
No need to reform BoF advisory mon policy council
There is no need to reform the Monetary Policy Council (MPC) of the Bank of France, which advises Governor Jean-Claude Trichet, according to Raymond Douyere, a former Socialist Party parliamentarian appointed to the nine-member MPC in 2000. "Abolishing…
Greek cbank says no sales of euros to restructure
Greece's central bank said on Feb. 9, 2001 that it had not been selling euros as part of a restructuring of its foreign reserves but that some payment in foreign exchange had been made on behalf of the Greek government. "All these rumours that the Bank…
Buba Stark-EU fin min council should censure Irish
Ireland should be censured by the full council of European Union finance ministers, for not adhering to its commitment to tighter fiscal policy, Deutsche Bundesbank Vice President Juergen Stark said on Feb. 9, according to German newspaper Boersen…
BIS to host 17 cbank officials in HK Feb 12
The Bank for International Settlements plans to host officials of 17 central banks in Hong Kong on Feb 12, 2001. An official of the Basel-based institution said the central bankers will discuss both the global economy and the strengthening of financial…
Bank Indonesia officials to be suspects over loans
Senior Indonesian central bank officials will soon be named suspects over the handing out of huge loans to struggling banks in the late 1990s, Attorney General Marzuki Darusman said on Feb 9, 2001."In the next one or two weeks, there will be senior…
Japan cuts interest rates
The Bank of Japan has decided to cut its largely symbolic discount interest rate to 0.35% from 0.5%. However, Japan's key interest rate, called the overnight call rate, has been kept at 0.25%. The Bank of Japan (BoJ), led by governor Masaru Hayami, has…
Mains points of CBBH strategic plan for 2001
The Central Bank of Bosnia & Herzegovina publish a monthly newsletter about activities and news at the central bank. Below is one of the articles which summarises the mains points of CBBH strategic plan for 2001.
Tunisia GDP records 5 per cent growth in 2000
The Tunisian Central Bank governor, Mohamed Daoues, this morning presented to President Zine El Abidine Ben Ali the bank's year 2000 performance. The president was satisfied with the good results achieved by the Tunisian economy in 2000, as the overall…
Bank of Israel's Fiszman moves to monetary dept
Mr. Gabriel Fiszman was appointed Assistant Director of the Monetary Department at the Bank of Israel on Feb 8. Mr Fiszman has previously been an adviser to the governor, David Klein, and the head of external relations and spokesperson. In his new post,…
Slowdown in the US Economy- HKMA's Joseph Yam
The suddenness of the recent slowdown in the US economy has taken many by surprise. But policymakers have plenty of scope for turning this inevitable adjustment into a more sustainable growth path. By Joseph Yam, chief executive of the Hong Kong Monetary…
Buenaventura appointment illegal-BSP says otherwis
Malacanang has been receiving reports Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura may have been illegally appointed by former president Joseph Estrada under the Central Bank Act, presidential spokesman Renato Corona said in a radio…
Bank of Korea says fake note cases doubled in 2000
Due to the fast spread of computer scanners and colour printers, the number of note forgery cases more than doubled in 2000, the Bank of Korea said on Feb 8, 2001.The number of note counterfeiting cases jumped to 160 in 2000 from 68 cases in 1999, the…
Suranyi cites record of six years of econ growth
In his farewell speech on Feb. 8, 2001 National Bank of Hungary (NBH) president Gyorgy Suranyi emphasized the sustainable growth achieved in Hungary since 1996. Speaking at a press conference in Budapest, Mr Suranyi, whose term expires on March 1,…
Hungary's Suranyi says pay cuts against the law
A decision by then-finance minister Zsigmond Jarai to slash the bonuses of the leaders of the National Bank of Hungary (MNB) is a signal that Jarai's appointment as MNB governor will reduce the central bank's independence, outgoing governor Gyorgy…
Communications plays key role in mon policy - ECB
Communication policy plays a vital part in supporting the European Central Bank's (ECB) monetary policy by helping the central bank achieve its price stability goal and in assuring public acceptance of policy decisions, the ECB said in its report for…