Central Banks

IMF warns Brown not to increase spending

The International Monetary Fund's report on the health of the UK economy, published yesterday by the Treasury, warned Gordon Brown, the UK Chancellor, that private spending needs to slow down before the economy can accommodate an increase in public…

Italy MTS to adopt RTGS system soon

MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.

A$ bounces back from record lows

The Australian dollar bounced back from this week's record lows against the US dollar on Wednesday, buoyed by talk of central bank support in the options market.

Liquidity gridlock feared from Japan's RTGS launch

Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.

Fiji 2001 budget forecasts slow economic recovery

Fiji's post-coup government on Wednesday delivered its calendar 2001 budget, predicting a slow recovery in the South Pacific nation's economy which has been battered by a nationalist coup and failed military mutiny. The central bank has predicted that…

Mboweni says rand's fall due to external factors

The South African rand was pummelled Tuesday by external factors such as escalating tensions in the Middle East, dollar strength, the anticipated outcome of the US elections and a failure by the European Central Bank to intervene on behalf of the…

Economists hit Malaysia's dollar peg

Malaysia should get rid of its currency peg to the dollar and fix the exchange rate to a trade-weighted basket of currencies instead, said several economists speaking at a conference in Kuala Lumpur.

BOJ commits to Jan 4 real-time settlement launch

Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.

Taiwan BoP suffers from capital flight

After eight quarters in surplus, Taiwan's balance of international payments fell into deficit territory in the third quarter of this year as the result of a sharp fall in the capital account, the Central Bank of China revealed yesterday.

Russia and IMF disagree over forex reserves

The Russian government is hoping to resume its talks with the International Monetary Fund in the middle of December, a source close to the talks told the Russian news agency Interfax on Tuesday.

Investors await Eqypt's exchange rate policy

Domestic and foreign investors in Egypt are waiting for some sign from the monetary authorities on a new exchange rate policy nearly two months after the country abandoned a long-standing fixed peg against the dollar.

Brazil's cenbank intervenes in FX markets

Brazil's central bank intervened in the foreign exchange markets today, saying that it does not want the real to strengthen too much against the dollar as it could be detrimental to Brazil's trade balance.

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