Central Banks
Testimony of Dolores Smith at the US House of Reps
TESTIMONY - Testimony of Dolores S. Smith, Director, Division of Consumer and Community Affairs before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services, U.S. House of Representatives, 1 November.
Japan's fading economy
ARTICLE - Two years ago, at the height of the dot.com bubble, when there were already worries that the US boom would end in tears, it was argued that the world needed Japan to start growing again before the US stopped doing so. It didn't quite turn out…
The future of online banking
ARTICLE - A letter published in the Financial Times London edition, 31 October, comments on a previous feature the paper reported on the outlook for online banking.
Pakistan's foreign exchange reserves rise
PAKISTAN - Pakistan's liquid foreign reserves rose to $3,433.9 million on 20 October from $3,351.3 million a week earlier, according to the State Bank of Pakistan.
Russian c bank reserves exceed 38 bn $ - Governor
RUSSIA - The currency reserves of Russia's Central Bank are nearly 38.6 billion dollars, Bank Governor Viktor Gerashchenko has said at the Russia-Dutch economic forum in the Hague.
Brazil c bank mulls use of derivatives on forex
BRAZIL - Brazil's central bank is considering the use of derivatives to intervene on the foreign-exchange market as of May 2002, a report said Thursday.
Sweden's Riksbank - Members voted for same rates
SWEDEN - The executive board of Sweden's Riksbank voted unanimously to hold the central bank's key repo interest rate unchanged at its 15 October meeting, according to minutes of the meeting.
ECB Welteke sees euro zone recovery "rather soon"
DENMARK - Bundesbank President Ernst Welteke on Monday voiced cautious optimism that the euro zone economy would recover relatively soon and reiterated recent monetary developments did not pose an inflation risk.
Fed's Smith - Rates dominate credit card pricing
US - The Federal Reserve's director of consumer affairs told a house panel Thursday that interest rates have come to dominate pricing practices for credit cards in recent years, although there is little systematic information about other aspects of card…
Argentina announces debt 'default' plan
ARGENTINA - Argentina's President Fernando de la Rua has announced a restructuring of his country's debt which many analysts regard as a technical default.
Japan Shiokawa/ Hayami: Reiterate need to reflate
JAPAN - Japanese Finance Minister Masajuro Shiokawa told Bank of Japan Governor Masaru Hayami on Friday he wants the BOJ to boost consumer prices back to levels seen before Japan was gripped by deflation.
Austrian mint ready to recycle notes and coins
AUSTRIA - Austrian federal mint Muenze Oesterreich, a subsidiary of central bank Oesterreichische Nationalbank (ONB), is preparing to begin melting down schilling coins following the introduction of the euro on 1 January.
Speech by Kristina Persson of Sveriges Riksbank
SPEECH - Speech by Deputy Governor Kristina Persson of Sveriges Riksbank, Sweden's central bank, at the Swedish Association of Financial Analysts 30 October.
Speech by M R P Devakula, Bank of Thailand, 12 Oct
SPEECH - Opening Remarks by Governor M.R. Pridiyathorn Devakula of Thailand's central bank at Market Risk Management Techniques for the BIS Capital Regime Seminar, United Nations Conference Center, Bangkok, 12 October 2001.
Canadian dollar at record low
CANADA - Canada's currency fell to record lows against the US dollar on Wednesday, undermined by weak commodity prices, lower interest rates, and worries over the slowing economy.
Russian c bank lose 5 bn rubles due to staff fault
RUSSIA - The General Prosecutor's Office has completed investigation into the criminal case against Deputy Director of the main Moscow territorial division of the Central Bank, Alexander Alekseev.
Japan's puzzle - Rock bottom rates, few borrowers
ARTICLE - HIROSHIMA, JAPAN - Why does Japan's economy, despite phenomenally low interest rates, keep wasting away? The answer begins in a vegetable garden near here.
Riksbank's Persson - Sweden should join EMU
SWEDEN - Sweden should enter European Economic and Monetary Union to offset the risks of price swings and better align the economy with its chief export market, the Riksbank's deputy governor, Kristina Persson, said in a speech Tuesday.
Japan toughens stance on Pakistan debt
JAPAN - Japan has said it is unlikely to ease Pakistan's debt burden any further unless the Islamabad government agrees to ban nuclear weapons tests.
Bank of Japan Minutes
MINUTES - Bank of Japan, Minutes of the Monetary Policy Meeting on 18 September.
Brazil c bank to produce notes of BRR2, BRR20
BRAZIL - The central bank will launch notes in denominations of two reals and 20 reals ($1=BRR2.761) in December and next year to help save costs, O Estado de S. Paulo reported.
India rates hit lowest level since 1970s
INDIA - Interest rates in India have slid to their lowest rate for almost 30 years after the country's central bank - Reserve Bank of India (RBI) - cut interest rates by half a percentage point.
Speech by Urban Backstrom of Sweden's central bank
SPEECH - Speech by Urban Backstrom, Governor of Sveriges Riksbank, Sweden's central bank at the Swedish Shareholders' Association rebro, 30 October.