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Bank of Zambia will not intervene to help kwacha
The governor of the central bank of Zambia said on Friday he expected the kwacha to go on falling against the dollar and his bank would not waste resources on trying to intervene and stop the slide.
Polish president debates new c.bank head next week
President Aleksander Kwasniewski will meet Poland's top three political parties next week to discuss candidates for the new central bank chief, opening the way for a parliamentary vote on the issue as soon as December 6-8.
New Czech central bank head faces political row
Czech President Vaclav Havel chose Zdenek Tuma as the country's new central bank governor on Friday, setting up a showdown between Tuma and the government over future interest rate policy.
Bank of France defends Duisenberg after MPs attack
Bank of France governor Jean-Claude Trichet sprang to the defence of Wim Duisenberg on Friday after a senior French parliamentarian blamed the European Central Bank chief for the euro's woes and urged him to resign.
IMF warns Brown not to increase spending
The International Monetary Fund's report on the health of the UK economy, published yesterday by the Treasury, warned Gordon Brown, the UK Chancellor, that private spending needs to slow down before the economy can accommodate an increase in public…
MP's criticised by BoE Governor
Bank of England Governor Eddie George has criticised MP's for being too aggressive when they select new members of the monetary policy committee. George thinks that MP's tactics could put-off good candidates from accepting a post with the MPC.
Manila c.bank sets body to check money laundering
The Philippines central bank said on Thursday it would set up a six-member committee to evaluate reports on suspicious bank transactions as part of its efforts to fight money laundering.
SNB sees gold as good diversification tool
The Swiss National Bank still sees gold as a good tool to diversify its reserves even though the central bank is gradually selling off half its original holdings of the metal, SNB Chairman Hans Meyer said.
Zambia October annual inflation up to 28.6%
Zambia's annual inflation rose to 28.6% in October from 27.7% in September and 25.9% in August, the Bank of Zambia said on Thursday. The figure was higher than the October inflation rate of 24.3% given by the Treasury earlier in the week.
Chile Q3 GDP grew 5.8% in quarter - central bank
Gross domestic product (GDP) for Chile, which is recovering from a recession, grew 5.8% in the third quarter of this year versus the same period last year, the central bank said on Thursday.
Bundesbank predicts soft landing for US economy
Signs of a gradual slowdown of the US economy are increasing, the Bundesbank said in its latest monthly report, citing the "sharp" decline in residential investment and government spending as the main contributions to the "tangible" slowdown in third…
Duma committee recommends FBK for cenbank audit
The Duma Banking Committee made a decision at a closed meeting today to recommend that the Duma approve the FBK company as a subcontractor of Deloitte & Touche for the audit of the central bank's annual report for 2000 at a session of the lower house on…
Timetable set for Bank Indonesia reform
The Indonesian parliament vowed Thursday to speed up deliberations on crucial changes of management and legal governance at the country's central bank.
Norges Bank supports MeritaNordbanken's buy
The Norwegian central bank, Norges Bank, said Thursday it recommends to the Norwegian banking and insurance authority that Nordic Baltic Holding and its unit MeritaNordbanken (S.MNB) be allowed to acquire Christiania Bank og Kreditkassen (Y.CBK).
Argentina awaits emergency package from IMF
An emergency economic package required by the IMF will be passed in full within 30 days, Jose Luis Machinea, Argentina's economy minister, insisted on Thursday.
NBS raps Slovak government for spending plans
The Slovak central bank (NBS) has raised its 2001 inflation forecast to between 6.8% to 7.7%, local news agency SITA reported on Thursday, citing an NBS document commenting on the government's 2001 budget proposal.
Cuba tests new waters in foreign debt relief talks
Cuban envoys, testing uncharted waters, met foreign government representatives on Thursday to discuss what could amount to a landmark deal to alleviate the pain of Havana's crippling foreign debts.
CNB board makes no policy change at meeting
The Czech central bank (CNB) said on Thursday its regular governing board meeting had ended and no monetary policy decisions had been taken.
Nigeria cenbank cuts lending rate to banks to 14%
The Central Bank of Nigeria announced on Thursday it had slashed its benchmark minimum rediscount rate (MRR) by 200 basis points to 14%, saying this reflected the low level of inflation in the West African country.
Trichet tempers optimism on world economic growth
French central bank governor Jean-Claude Trichet Thursday tempered optimistic forecasts for world growth, saying there remain uncertainties as to economic conditions.
IMF mission leaves Russia with no agreement
Russia is likely to get a frosty reception from the Paris Club of sovereign creditors after an International Monetary Fund mission left Moscow this week without reaching agreement.
Russia's gold reserves up on last week
Russia's gold and foreign currency reserves were $26.5bn on 17 November, up from $26bn on 10 November, the central bank said in a press release on Thursday.
South Korea economy heads for slowdown
South Korea posted a strong growth rate of 9.2% in the third quarter, but analysts warn that the economy could begin looking much weaker in the fourth quarter because of increased bankruptcies for debt-heavy companies and resulting job losses.
SAMA introduces sliding brokerage fees
The Saudi Arabian Monetary Agency has introduced a new sliding scale of brokerage fees taking effect from 1 January 2001.