Monetary Policy

NZ c bank cuts cash rate 50 basis points to 4.75%

NEW ZEALAND - The Reserve Bank of New Zealand Wednesday met market expectations by cutting its Official Cash Rate by 50 basis points to 4.75% and flagged the possibility of further interest rate cuts early next year if the global economy is worse than…

IMF: South Korea's upgrade

SOUTH KOREA- Ajai Chopra, the IMF's assistant director for Asia and the Pacific said the sovereign rating upgrade for South Korea by Standard & Poor's Corp. Tuesday was "entirely deserved".

EU: G10 ctrl bks see 2002 econ recovery

SWITZERLAND - "Uncertainty," according to Bank of England Governor Eddie George, was the most frequently used word Monday by the central bank heads of the Group of 10 nations in discussing the prospects for the world economy.

ECB's Padoa Schioppa sees no more cuts now

ITALY - Tommaso Padoa Schioppa, a member of the European Central Bank's council, said he doesn't see the euro-zone central bank cutting interest rates again in the foreseeable future, according to an interview with La Repubblica Saturday.

IMF and World Bank joint statement

STATEMENT - IMF and World Bank Heads Call for a New Round of Multilateral Trade Negotiations at Doha, Koehler and Wolfensohn urge Ministers to put developing countries at the center of the agenda.

Australia's 'empty' economic agenda

AUSTRALIA - On its first working day after its re-election at the weekend, Australia's government was handed an upbeat assessment of the economy from the central bank, after a campaign that lacked almost any debate on the issue.

Federal Open Market Committee - Minutes

MINUTES - Minutes of the 2 October meeting. A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday 2 October 2001, at 9:00 a.m.

Inflation no longer a threat to eurozone

EUROPE - Wim Duisenberg, president of the European Central Bank, said yesterday, Thursday, the bank's decision to cut interest rates by 50 basis points to 3.25 per cent reflected both a need to prop up battered confidence, and the bank's belief that…

IMF sees continued gloom for Germany

GERMANY - The German economy should recover from its slowdown in the first half of next year, but business confidence is frail and the government has little room to pursue fiscal expansion, the International Monetary Fund said yesterday, Wednesday.

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