Central Banks
African Development Bank gets new treasury head
AFRICA - The African Development Bank said on Apr 5, 2001 that Arunma Oteh, currently the manager of its investment division, had been appointed treasurer with effect from April 2.
RBA Stevens optimistic on economic growth
AUSTRALIA - Reserve Bank of Australia assistant governor Glenn Stevens said on Apr 5, 2001 there is genuine uncertainty about Australia's short-term economic outlook, but he expected a return to normal rates of growth, possibly by mid-2001.
Norway c.bank keeps interest rates on hold
NORWAY - Norway's central bank kept interest rates on hold on Apr 4, 2001 and reaffirmed a neutral outlook for rates, in line with analysts' forecasts, after four hikes in key rates in 2000.
Bank of England cuts interest rates by 0.25%
UNITED KINGDOM - The Bank of England cut interest rates by another quarter point on Apr 5, 2001, bowing to pressure from tumbling stock markets and weakening economic data.
Danmarks Nationalbank Monetary Review
DENMARK - The Danmarks Nationalbank has released its quarterly Monetary Review, which includes a number of interesting articles written by the central bank's staff. There are two articles on risk management: one about managing interest rate risk in a…
BoE Plenderleith comments on sterling bond market
SPEECH - In a speech to a conference organised by the Association of British Insurers on Apr 2, 2001, Ian Plenderleith, executive director of the Bank of England and a member of the Monetary Policy Committee, reviews developments in the sterling non-gilt…
What central banks can and can't do-RBNZ Don Brash
SPEECH - The Reserve Bank of New Zealand's Governor Don Brash is urging people to be realistic about what monetary policy can achieve. Speaking to the Trans-Tasman Business Circle in Sydney, Dr Brash said that "In recent years ... the public have come to…
Financial stability, deflation, & monetary policy
CENTRAL BANK RESEARCH - This working paper by Federal Reserve Bank of Richmond economist Marvin Goodfriend explores the relationship between financial stability, deflation, and monetary policy.He says that monetary policy is a fundamental source of…
China FX reserves rising to $200bn-BusinessWeek
CHINA - China's foreign reserves will rise steadily, enabling it to hold its yuan peg to the dollar in the face of the weakening yen, US-based BusinessWeek magazine on Apr 3, 2001 quoted central bank Governor Dai Xianglong as saying.
SNB profits boosted by gold revaluation
SWITZERLAND - In its 2000 annual report released on Apr 3, 2001, the Swiss National Bank said that net profit for 2000 had jumped to 28.2 billion Swiss francs ($16.3 billion), boosted by a one-off 27.7 billion franc revaluation of gold holdings.
Malta cbank predicts steady growth-annual report
MALTA - The Maltese economy is expected to grow between four percent and 4.5 percent in 2001 after 3.8 percent in 2000, central bank governor Michael Bonello said on Apr 3, 2001.
Korea's KFTC-BoK assistant governor new president
SOUTH KOREA - The Korea Financial Telecommunications and Clearings Institute (KFTC) selected Yoon Gye-sub, the assistant governor of the Bank of Korea (BOK), as its new director at a general meeting held on Apr 4, 2001.
Australia cuts interest rates by 0.5%
AUSTRALIA - Australia's central bank on Apr 4, 2001 cut interest rates by half percentage point to boost consumer confidence and limit the impact of a global slowdown. It was the third reduction at board meetings in a row.
Risk measurement and systemic risk conference
CENTRAL BANK CONFERENCE - On March 7-8, 2002, the Committee on the Global Financial System (CGFS), in co-operation with the Bank of Japan, the Board of Governors of the Federal Reserve System and the European Central Bank, will host, under the auspices…
SNB's Bruno Gehrig speech on the euro
SPEECH - Bruno Gehrig, vice-chairman of the Swiss National Bank, gave a speech on Mar 27, 2001 in front of the Swiss Chamber of Industry and Commerce of the Southern Upper-Rhine Region about the euro two years on and its impact on the Swiss economy and…
ECB MoU on payment systems and supervision
CENTRAL BANK REPORT - The European Central Bank issued a Memorandum of Understanding (MoU) on Apr 2, 2001 describing the specific arrangements for co-operation and information sharing between EU payment system overseers and banking supervisors in…
IMF Koehler urges ECB to cut interest rates
EUROPE - International Monetary Fund Managing Director Horst Koehler called on the European Central Bank on Apr 2, 2001 to cut interest rates in order to help a slowing euro-zone economy.
New payment systems need cbank monitoring-ECB
SPEECH - New cross-border payments initiatives need to be closely monitored by central banks to ensure they are as safe and solid as dealing direct with central banks, a European Central Bank board member said on Apr 2, 2001.
Hong Kong Exchange Fund results for the year 2000
HONG KONG - The Hong Kong Monetary Authority announced on Mar 30, 2001 the operating results of the Exchange Fund for the year 2000, with profits hit by a volatile investment environment.
BoC annouces monetary operations changes
CANADA - The Bank of Canada is changing two of its operational procedures relating to the Large Value Transfer System, effective Apr 2, 2001.
BoJ new board member against targeting exch rate
JAPAN - The newest member of the Bank of Japan's Policy Board said on Apr 2, 2001 she was neither a monetary policy hawk nor a dove, but questioned whether orthodox policy could loosen deflation's debilitating grip on the economy.
GSIC cuts investments in tech companies
SINGAPORE - The Government of Singapore Investment Corp has reduced its interests in Malaysia's technology sector in the face of sluggish US demand for the country's electronics products.
South Korea's FX reserves dip to $94.44bn
SOUTH KOREA - The South Korea's foreign exchange reserves dipped by $890 million from a month earlier to $94.44 billion as of late Mar 2001, falling for the fourth straight month, the Bank of Korea said Apr 2.
Pakistan cbank announce measures to boost reserves
PAKISTAN - Pakistan's central bank on Mar 31, 2001 announced measures to boost its foreign exchange reserves, a day after the International Monetary Fund released fresh money under a standby credit agreement.