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Thiessen rejects dollar union
Gordon Thiessen, Bank of Canada governor, has again rejected the idea of sharing a common currency with the United States.
China's regulators approve five foreign auditors
Five auditing companies with foreign partners have been included in a list of firms approved by China's regulators to conduct financial audits, People's Bank of China said Tuesday.
CBR likely to amend monetary policy framework
The Bank of Russia last week submitted to the Duma "Guidelines for the government's unified monetary and credit policy in 2001".
Bank of Zambia wants business plans from banks
Commercial banks in Zambia will, effective next year, be required to submit yearly business strategic plans to the central bank.
BOT says government must focus on FIDF losses
The Bank of Thialand said yesterday the priority of the new government is to seek viable ways of repaying losses incurred by the Financial Institutions Development Fund.
Belgium seeks financial market regulatory reform
Belgian Finance Minister Didier Reynders proposed on Tuesday a reform of the country's financial market regulatory system which would strengthen the power of government regulators and harmonise oversight of stock exchanges.
Cyprus denies Milosevic money laundering claims
The Cyprus government has fended off press allegations that money belonging to the former Yugoslav President Slobodan Milosevic has been laundered through Cyprus-based banks.
Greenspan talk lifts markets - John Berry
Financial markets rallied strongly yesterday after Federal Reserve Chairman Alan Greenspan acknowledged that US economic growth has slowed "appreciably," convincing many investors that the central bank will begin to cut short-term interest rates if…
RBNZ Brash cut transparency to save credibility
Reserve Bank of New Zealand governor Don Brash said Wednesday he decided to reduce the amount of information contained in his bank's quarterly monetary policy statements to help safeguard the credibility of the institution, particularly in the eyes of…
NZ holds rates, hawkish RBNZ outlook surprises
The Reserve Bank of New Zealand kept its official interest rates on hold as expected on Wednesday, but surprised many in the markets with a hawkish outlook for 2001.
Bulgarian premier urges banks to lend more
Bulgarian prime minister Ivan Kostov on Tuesday urged local bankers to lend more to boost economic growth instead of keeping funds deposited abroad. Central bank governor Svetoslav Gavriiski said at the same meeting he expected increased lending to…
Buba views on Eurozone enlargement upset hopefuls
The Bundesbank's bid to make joining the Eurozone tougher for eager east European applicants has upset candidates but analysts said it will be politically impossible to make the demand stick.
BOC warns of inflation risks, keeps rates on hold
The Bank of Canada pointed to inflation risks lurking in the economy, but left interest rates unchanged yesterday in the first of its regularly scheduled policy announcements.
Singapore announces changes in currency policy
The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and…
Jusko says Slovak crown's losses nothing special
The current losses posted by the Slovak crown to the euro are nothing unusual, Marian Jusko, the governor of the National Bank of Slovakia, told reporters today.
Danish cenbank may step up market operations
The governor of the Danish central bank said Wednesday that the bank may step up its activity in the money markets if industry consolidation reduces market efficiency.
Ecuadorian colonel says lift bank secrecy veil
Former Colonel Lucio Gutierrez, who led the January coup that removed President Jamil Mahuad from office, called on the Ecuadorian government to lift the bank secrecy act and reveal the names of the beneficiaries of the March 1999 bank holiday decreed by…
OECD calls for 'greater clarity' from BOJ
While the future looks more positive for Japan, significant reforms including greater transparency from the Bank of Japan still need to be made, the Organisation for Economic Development and Cooperation said Wednesday in its annual economic survey of…
PNG should adopt the Aust dollar, says expert
Papua New Guinea should adopt the Australian dollar to ensure economic stability, an expert on developing Asia Pacific economies advised today.
Problem with BOE inflation forecast, says Fed Kohn
The Bank of England's forecast round and quarterly Inflation Report don't present a clear picture to policymakers, markets or the wider public, Don Kohn, director of monetary affairs at the US Federal Reserve Board in Washington, said Wednesday.
IMF offers $10bn to ease Turkish banking crisis
The International Monetary Fund said it will provide more than $10 billion in financial support for Turkey to help ease a sharp liquidity crisis that has sent the country's interest rates soaring and depleted central bank reserves.
Yugo cenbank plans managed float for dinar in 2001
Yugoslavia's central bank said on Wednesday it was planning to abandon its rigid fixed exchange rate policy in 2001 and move to a managed float for the dinar.
Credit Suisse face Abacha money laundering probe
Switzerland's banking regulator said Wednesday that it filed a formal complaint against Credit Suisse Group over its acceptance of millions of dollars linked to the late Nigerian dictator General Sani Abacha.
Summers welcomes IMF aid for Turkey
The United States on Wednesday welcomed a $10 billion rescue package agreement between the International Monetary Fund and Turkey, saying that its financial stability was important to the US.