Monetary Policy
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.
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…
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.
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…
Costa Rica to maintain exchange rate policy
Costa Rica's central bank said on Thursday it would continue with mini-devaluations of its currency against the dollar, despite complaints that it makes local business less competitive.
Taiwan central bank says forex policy unchanged
Taiwan's central bank said on Wednesday it would maintain its policy of "dynamic stability" in the foreign exchange market after surprisingly allowing the local dollar to fall to a 19-month low.
Slovak central bank two day policy meeting
The board of the National Bank of Slovakia will hold a two-day meeting on current and 2001 monetary policy on Thursday and Friday, central bank spokesman Jan Onda said on Wednesday.
UK's MPC voted 9-0 for unchanged rates in November
The Bank of England's monetary policy committee (MPC) voted unanimously for a second month running in November to leave interest rates unchanged at 6%.
Credit Suisse says RBNZ won't change cash rate
New Zealand's Reserve Bank is expected to leave the official cash rate unchanged early next month because of uncertainty about the country's medium-term inflation outlook, Credit Suisse First Boston (NZ) Ltd. said Wednesday.
BOJ voted 8-1 to maintain policy on Oct 13-minutes
The Bank of Japan (BOJ) Policy Board voted 8-1 to maintain its policy of targeting the unsecured overnight call rate at 0.25 percent at a meeting on October 13, minutes from the meeting showed on Wednesday.
Fiji 2001 budget forecasts slow economic recovery
Fiji's post-coup government on Wednesday delivered its calendar 2001 budget, predicting a slow recovery in the South Pacific nation's economy which has been battered by a nationalist coup and failed military mutiny. The central bank has predicted that…
Mboweni says rand's fall due to external factors
The South African rand was pummelled Tuesday by external factors such as escalating tensions in the Middle East, dollar strength, the anticipated outcome of the US elections and a failure by the European Central Bank to intervene on behalf of the…
Brussels raises Eurozone inflation forecast
The European Commission revised upwards its inflation forecasts for the euro-zone and said European economic growth, though relatively strong, was unlikely to equal US growth until 2002.
Economists hit Malaysia's dollar peg
Malaysia should get rid of its currency peg to the dollar and fix the exchange rate to a trade-weighted basket of currencies instead, said several economists speaking at a conference in Kuala Lumpur.
US and euro interest rates to rise, says OECD
Interest rates in the world's leading economies look set to rise, the OECD warned in its bi-annual World Economic Outlook and predicted global growth of 4.75% this year.
Taiwan BoP suffers from capital flight
After eight quarters in surplus, Taiwan's balance of international payments fell into deficit territory in the third quarter of this year as the result of a sharp fall in the capital account, the Central Bank of China revealed yesterday.
Venezuela preparing interest rate measures
Venezuela's central bank is considering measures to limit the spread between commercial banks' lending and deposit interest rates, as part of a new banking law being drafted for decree by President Hugo Chavez.
Australian dollar falls to 17 year low
The tide of global foreign exchange markets has turned against the Australian dollar again with the local currency falling to a record 17 year low.
Ghana to be HQ of West African Monetary Institute
Ghana has been selected as the location for the headquarters of the West African Monetary Institute that is to work towards the establishment of a West African Central Bank.
BoE issues inflation warning on wages
The Bank of England has released a report, co-written by chief economist Charlie Bean and other bank staff, warning that an increase in the share of national income being taken by wages may lead to a rise in inflation.
Sarkinas: no policy change until after mid-2001
Reinoldijus Sarkinas, governor of the Bank of Lithuania, met with the IMF mission headed by Patricia Alonso-Gamo. He reiterated that decisions about the planned repegging of the national currency, the litas, from the US dollar to the euro would not be…
Calls for fundamental reform of the ECB
The UK government's favourite foreign policy think-tank has published a paper calling for fundamental reform of the European Central Bank and European economic policy-making to restore confidence in the euro.
Bank of Japan - Annual Report 2000
ANNUAL REPORT - The Bank of Japan has published its Annual Report for the year ended 2000.
Speech by Antonio Fazio, Governor, Bank of Italy
SPEECH - Speech by Antonio Fazio, Governor of the Bank of Italy at the World Gold Council International Conference "The Euro, the Dollar and Gold" held in Rome on 17 November 2000. The relationship between currencies and gold.