Monetary Policy

Argentina's Blejer to become central bank VP

ARGENTINA - Mario Blejer, a former International Monetary Fund economist and top aide to Economy Minister Domingo Cavallo, will become vice president of the country's Central Bank, an official at the monetary authority confirmed on 2 August.

Chicago Fed: Recession risks rising

US - The risk that the U.S. economy is in a recession rose in June to its highest level this year, the Federal Reserve Bank of Chicago said on 2 August as it released its monthly index of U.S. economic activity.

Hungary aims to introduce euro in 2006

HUNGARY - The government expects that Hungary will introduce the euro as its currency as of 1 January 2006, Zsigmond Jarai, head of the National Bank of Hungary (MNB) said at a business conference on 26 July.

Bank set to defy rate cut calls

UK - The Bank of England's Monetary Policy Committee (MPC) is widely expected to leave UK interest rates unchanged, despite a mixed picture for the British economy. The MPC began its monthly meeting today, 1 August, and is due to reveal its interest rate…

One-off costs of euro conversion estimated

ARTICLE - Research published today by Bannock Consulting shows that the total cost to UK business of converting to the euro are in the region of £10.3bn. Adding in the British Bankers Association estimate of £1 bn for the banking sector and Bannock…

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