Central Banks
Bank of Zambia will not intervene to help kwacha
The governor of the central bank of Zambia said on Friday he expected the kwacha to go on falling against the dollar and his bank would not waste resources on trying to intervene and stop the slide.
Taiwan cenbank warns speculators of potential risk
Taiwan central bank's abrupt easing of its efforts to defend the Taiwan dollar against the US dollar in yesterday's late trading session, has wrong-footed both institutional and individual speculators who tried to take advantage from the central bank's…
Basis for unified payment system in Russia
In December, the Interagency Smart Cards Commission will present a draft plan for putting together a unified payment system in Russia. The system will be based on the payment system of Sberbank, and the clearance and cash center of the central bank will…
Vietnam central bank liberalises payment fees
The Vietnamese central bank has decided to remove all limits on domestic and international payment fees charged by banks.
Greek banks to meet ECB reserve regulations
The Bank of Greece said on Friday that effective from 1 January 2001 Greek banks will have to meet European Central Bank regulations on their required reserves.
Polish central bank says no rate cut in Q1 2001
Polish central bank President Hanna Gronkiewicz-Waltz said on Friday she did not see scope for interest rate cuts in the first quarter of next year but hoped there was room for a cut by the end of the first half of 2001.
Kabila's Congo relaxes forex regulations
Democratic Republic of the Congo's central bank has eased restrictions on who can trade in foreign exchange and extended a list of transactions in which it can be used, state radio reported on Friday.
Morocco foreign reserves down 5.7% in September
Moroccan foreign reserves fell 5.5% to 55,860 million dirhams ($4.98bn) at the end of September compared with the same period last year, the entral bank said on Friday.
Bank of Spain's disclosure for settlement systems
The Spanish central bank has now published a revised version of the responses to the disclosure framework for the Spanish CADE (CENTRAL DE ANOTACIONES, formerly SACDE), November 2000.
Economic integration in the Korean peninsula
Marcus Noland, senior fellow at the Institute for International Economics, has written a paper called "Economic Integration in Koreas: Prospect and Risks" for the ICAS autumn symposium 2000 in Washington, DC.
RBI governor says policy juggling is the best
Many central banks around the world target price inflation, but the RBI has multiple economic targets, says Alan Beattie from the Financial Times.
BOK head sees no capital flight next year
The implementation of the second-stage foreign exchange liberalisation plan next year is unlikely to lead to a sudden flight of domestic capital to foreign countries, Bank of Korea governor Chon Chol-hwan said yesterday.
Japan FRC head urges BOJ broad view on easing
Japan's top financial regulator on Friday urged the Bank of Japan to take a broad view in deciding whether or not to ease monetary policy, implying he favoured an easing.
Intervention was to punish speculators -Duisenberg
European Central Bank President Wim Duisenberg said on Thursday recent ECB forays into foreign exchange markets were not aimed at pushing the euro to any level but at punishing those speculating against the currency.
El Salvador to use dollar as 'parallel currency'
El Salvador will allow the US dollar to circulate freely alongside its own currency in the new year under a monetary law sent to Congress by the president on Thursday.
Diusenberg says UK euro tests are irrevelant
European Central Bank chief Wim Duisenberg today dismissed Gordon Brown's five economic tests for joining the single currency as irrelevant and insisted that Britain would have to join the European exchange rate mechanism for two years before adopting…
ECB inflation above target for next 6 months
European Central Bank President Wim Duisenberg said on Thursday it could take six months for Eurozone inflation to fall back to the ECB's 2% goal.
South Korea economy heads for slowdown
South Korea posted a strong growth rate of 9.2% in the third quarter, but analysts warn that the economy could begin looking much weaker in the fourth quarter because of increased bankruptcies for debt-heavy companies and resulting job losses.
Russia's gold reserves up on last week
Russia's gold and foreign currency reserves were $26.5bn on 17 November, up from $26bn on 10 November, the central bank said in a press release on Thursday.
Trichet tempers optimism on world economic growth
French central bank governor Jean-Claude Trichet Thursday tempered optimistic forecasts for world growth, saying there remain uncertainties as to economic conditions.
Nigeria cenbank cuts lending rate to banks to 14%
The Central Bank of Nigeria announced on Thursday it had slashed its benchmark minimum rediscount rate (MRR) by 200 basis points to 14%, saying this reflected the low level of inflation in the West African country.
CNB board makes no policy change at meeting
The Czech central bank (CNB) said on Thursday its regular governing board meeting had ended and no monetary policy decisions had been taken.