Central Banks

Growing Greenspan role worries some

US - Alan Greenspan has been everywhere in guiding economic policy in the wake of the terrorist attacks - slashing interest rates, helping to get Wall Street running again, shaping the tax cuts being developed by Congress and evaluating which airlines…

Vietnam central bank takes steps to rein in gold

VIETNAM - The central bank will sell more gold to the domestic market in an effort to curb the upward spiralling price of the yellow metal following the events of 11 September in the United States, said deputy central bank governor Duong Thu Huong.

BoJ fund draining casts doubt over prospects

JAPAN - The Bank of Japan has withdrawn much of the extra money that it pumped into the Japanese economy in the wake of the 11 September terrorist attacks, casting further doubts over the country's dismal growth outlook.

Speech by Eugenio Domingo Solans of the ECB

SPEECH - Speech delivered at the European Parliamentary Financial Services Forum, Brussels, by Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), 9 October.

ECB Press Conference

PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Vienna, 11 October.

NBG to invest half of its international reserves

GEORGIA - In the near future the National Bank of Georgia projects to invest some 50% of the country's international currency reserves in financial instruments /such as treasury obligations/ in two foreign banks, head of the NBG department for currency…

Fed will have single MICR format in 2005

US - The Federal Reserve announced Wednesday 10 October that it will adopt a single standard for magnetic ink character recognition detail on checks by mid-2005.

Speech by Glenn Stevens of the RBA

SPEECH - Speech at the Economic Society of Australia (Victorian Branch) Forecasting Conference, Melbourne, 10 October, by Glenn Stevens, Assistant Governor, Economic Group, Reserve Bank of Australia.

Bank of Japan warns on loosening monetary policy

JAPAN - Masaru Hayami, governor of the Bank of Japan, warned yesterday that loosening monetary policy could trigger hyperinflation, highlighting the growing gap between the Bank of Japan's thinking and that of the government and many private sector…

Pakistan central bank injects liquidity

PAKISTAN - State Bank of Pakistan said Wednesday 10 October it has injected PKR6.7 billion into the money market through one-week repurchase agreements to ease the liquidity situation.

Singapore MAS widen policy band for FX flexibility

SINGAPORE - The Monetary Authority of Singapore said Wednesday 10 October it has decided to widen its policy band to allow a greater flexibility in managing the exchange rate, as it expects more volatility in financial markets.

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