Monetary Policy
ECB Press Release - Euro frontloading
EUROPE - The European Central Bank issued a press release 5 July titled Frontloading of euro banknotes to central banks outside the euro area.
ECB Press Conference
EUROPE - Introductory statement Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Frankfurt am Main, 5 July, with a transcript of the questions and answers.
Sluggish IT seriously affecting overall economy
SOUTH KOREA - A long-lasting slowdown in the nation's information and technology (IT) industry has been dealing a serious blow to the nation's exports, imports and current account balance as well as production in the manufacturing industry.
Beware of Dr. Green and Mr. Span
US - Some pretty smart people are warning about the danger of playing with interest rates, comparing the nation's central bankers to Dr. Jekyll and Mr. Hyde. Call these critics the Alan Greenspan bashers, writes the Economist magazine 5 July.
Bank of England leaves interest rates unchanged
UK - The Bank of England's Monetary Policy Committee (MPC) has left UK interest rates unchanged for the second month in a row. The committee concluded their two day meeting on 5 July. The Bank's base rate remains at 5.25%.
European interest rates held steady
EUROPE - The European Central Bank (ECB) has left eurozone interest rates unchanged for the second month in a row. Their main refinancing rate remains at 4.5%.
Stanley Fischer - Argentine Bankers Association
SPEECH - Stanley Fischer, First Deputy Managing Director of the International Monetary Fund has spoken at the Argentine Bankers Association Meeting Buenos Aires, 25 June.
Consumer protection and the banking industry
SPEECH - Joseph Yam, JP, Chief Executive of the Hong Kong Monetary Authority, at the Hong Kong Association of Banks' Half-Yearly Dinner, Hong Kong, 19 June.
IMF reach compromise over central bank law changes
INDONESIA - Indonesia appears to be making some headway in its efforts to get fresh loans from the International Monetary Fund.
Interest rate decisions due
EUROPE - The European Central Bank and the Bank of England will both, separately, make their latest interest rate decisions tomorrow, 5 July. Neither is expected to cut rates further.
Taiwan sets up blue-ribbon economic committee
TAIWAN - Taiwan paved the way on 4 July for a multi-party task force to advise how to boost the island's faltering economy, a presidential aide said.
RBNZ introduces E-mail statement service to public
NEW ZEALAND - The Reserve Bank of New Zealand on 4 July started to deliver its press statements to the general public via e-mail for the first time.
Russian gold and currency reserves grow by $500m
RUSSIA - The PR department of the Central Bank has reported that between 15 June and 22 Russia's gold and currency reserves grew from $33.7 billion to $34.2 billion.
Indonesia expects smooth talks with IMF mission
INDONESIA - Indonesia's chief economics minister said on 4 July he expected smooth talks with an IMF team due to arrive this week on a mission aimed at paving the way for resumption of a $5 billion loan programme.
Former Czech bank head accused of dubious actions
CZECH REPUBLIC - A special parliamentary committee on 3 July savagely attacked the Czech minority government for the way it handled the country's biggest banking crisis last June.
'Jury' returns vote of confidence in central bank
EUROPE - Morgan Stanley Dean Witter, the US investment bank, recently held a conference at which the main attraction was a mock trial of the European Central Bank, as reported in the FT London.
Presentation of the ECB's Annual Report 2000
SPEECH - Introductory statement delivered by Dr. Willem F. Duisenberg, President of the European Central Bank to the European Parliament, Strasbourg, 3 July 2001.
Christian Noyer speech - The Euro Area
SPEECH - Speech delivered by Mr. Christian Noyer, Vice-President of the European Central Bank, at the American Chamber of Commerce in Germany, Stuttgart, 29 June 2001.
Deputy head named at Bank of Kuwait
KUWAIT - Mustafa Al-Shimali has been appointed as head of the board of the Bank of Kuwait and the Middle East.
Fed settles with ex-Bankers Trust exec
US - The U.S. Federal Reserve said yesterday, 2 July, it had settled charges brought against a former Bankers Trust executive in connection with accounting violations at the bank during the mid-1990s.
National Bank of Hungary appoints deputy governors
HUNGARY - The National Bank of Hungary, the central bank of Hungary, has appointed Peter Adamecz and Henrik Auth as deputy governors.
Fed approves Citigroup's purchase of EAB
US - Federal banking regulators approved Citigroup Inc.'s $1.6 billion purchase of European American Bank, a deal designed to expand Citibank's presence in the New York metropolitan area.
The IMF under pressure
SPECIAL REPORT - This week's special report looks at the future of the international financial institutions, in particular, the International Monetary Fund. This is a critical time for the IMF as it battles with the new administration in the US while at…
The inside story of the Fed
BOOK - A new book on the Federal Reserve System looks at what it does and doesn't do, what it must do, how it works, and how it hasn't changed. It is written by Martin Mayer.