Central Banks
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.
NBS raps Slovak government for spending plans
The Slovak central bank (NBS) has raised its 2001 inflation forecast to between 6.8% to 7.7%, local news agency SITA reported on Thursday, citing an NBS document commenting on the government's 2001 budget proposal.
Bundesbank predicts soft landing for US economy
Signs of a gradual slowdown of the US economy are increasing, the Bundesbank said in its latest monthly report, citing the "sharp" decline in residential investment and government spending as the main contributions to the "tangible" slowdown in third…
Chile Q3 GDP grew 5.8% in quarter - central bank
Gross domestic product (GDP) for Chile, which is recovering from a recession, grew 5.8% in the third quarter of this year versus the same period last year, the central bank said on Thursday.
SNB sees gold as good diversification tool
The Swiss National Bank still sees gold as a good tool to diversify its reserves even though the central bank is gradually selling off half its original holdings of the metal, SNB Chairman Hans Meyer said.
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…
Costa Rica to maintain exchange rate policy
Costa Rica's central bank said on Thursday it would continue with mini-devaluations of its currency against the dollar, despite complaints that it makes local business less competitive.
Taiwan central bank says forex policy unchanged
Taiwan's central bank said on Wednesday it would maintain its policy of "dynamic stability" in the foreign exchange market after surprisingly allowing the local dollar to fall to a 19-month low.
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.
Slovak central bank two day policy meeting
The board of the National Bank of Slovakia will hold a two-day meeting on current and 2001 monetary policy on Thursday and Friday, central bank spokesman Jan Onda 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.
UK's MPC voted 9-0 for unchanged rates in November
The Bank of England's monetary policy committee (MPC) voted unanimously for a second month running in November to leave interest rates unchanged at 6%.
Russia central bank to develop smart card market
Sergei Mikhailov, deputy director of the information systems department of the central bank, has announced that the bank is interested in developing the smart card 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.
Credit Suisse says RBNZ won't change cash rate
New Zealand's Reserve Bank is expected to leave the official cash rate unchanged early next month because of uncertainty about the country's medium-term inflation outlook, Credit Suisse First Boston (NZ) Ltd. said Wednesday.
BOJ voted 8-1 to maintain policy on Oct 13-minutes
The Bank of Japan (BOJ) Policy Board voted 8-1 to maintain its policy of targeting the unsecured overnight call rate at 0.25 percent at a meeting on October 13, minutes from the meeting showed 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…
Brussels raises Eurozone inflation forecast
The European Commission revised upwards its inflation forecasts for the euro-zone and said European economic growth, though relatively strong, was unlikely to equal US growth until 2002.
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.
US and euro interest rates to rise, says OECD
Interest rates in the world's leading economies look set to rise, the OECD warned in its bi-annual World Economic Outlook and predicted global growth of 4.75% this year.
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.