News
Brazil heavyweights head to US to broker IMF deal
BRAZIL - Heavyweights from Brazil's central bank, finance ministry and the planning and budget ministry will be in Washington D.C. this week to negotiate a new accord with the International Monetary Fund, according to Valor on 23 July.
Philippine bank mulling reserve requirement hike
Philippines - The Philippine Central Bank is considering raising the liquidity reserve requirement of commercial banks, a move that could help damp speculative pressure building on the peso.
IMF press conference in London
UK - At 10am UK time today, 20 July, Garry Schinasi chief of the IMF's Capital Markets and Financial Studies Division spoke at a press conference held at the Bank of England.
Non-bank Chinese institutions need funding
CHINA - China's central bank wants to draw private capital into investing in hundreds of cash-starved non-bank financial institutions to boost their financial strength, according to China Securities.
Korea needs to monitor emerging markets
SOUTH KOREA - BOK Gov. Korea should pay close attention to developments in Latin American markets to prevent shockwaves reaching the peninsula, Bank of Korea (BOK) Gov. Chon Chol-hwan said on 18 July.
Argentina softens economic reforms
ARGENTINA - The Argentine government is to soften its belt-tightening economic reforms after two days of crippling strikes and protests.
Russian major bank ratings improve
RUSSIA - Fitch, the international rating agency, has changed the Outlook to Positive from Stable assigned to the Long-term ratings of 'B' of the Savings Bank of the Russian Federation (Sberbank) and Vneshekonombank (VEB). The banks' Short-term,…
Kenyan c bank chief laments rising interest rates
KENYA - The Central Bank of Kenya said on 18 July its efforts to restructure the government's debt were on track but lamented its inability to keep interest rates down due to a squeeze in government finances.
Singapore MAS to hold 30th anniversary conference
SINGAPORE - The Monetary Authority of Singapore (MAS) will host a central bankers' conference tomorrow, 20 July to mark its 30th anniversary, the central bank said in a statement on Wednesday 18 July.
Central bank Cooperation planned
POLAND - The National Bank of Poland (NBP) has officially signed cooperative agreements with its French and Italian counterparts at a ceremony in Warsaw.
Bank of Canada names deputy gov of finance markets
CANADA - Sheryl Kennedy has been asked to serve as deputy governor of financial markets for Bank of Canada.
Philippine bank expands dollar hedging facility
PHILIPPINES - The Philippine Central Bank said today, 19 July, its policy- making Monetary Board has approved the expansion of coverage under the currency risk protection program, a hedging facility managed by the monetary authority.
Eurostat launches online economic database
UK - The European Union's statistical office Eurostat has launched a "Euro-indicators" subscription database aimed at economists and other professionals, some of whom complain that detailed data are hard to obtain.
ECB leaves interest rates unchanged
GERMANY - The European Central Bank (ECB) left eurozone interest rates unchanged, despite evidence of an economic slowdown.
World Bank questions US plan for the poor
ITALY - On the eve of the G8 summit of world leaders in Genoa, a potentially embarrassing row has broken out between President Bush and other world leaders over how to best help the poor.
BoJ urges move on measurement of bad loans
JAPAN - The Bank of Japan has discreetly urged the Financial Supervisory Agency, the main regulator in Japan, to develop better methods for measuring questionable bank loans, writes the Financial Times in London, 19 July.
Russia link to murder of Ukraine central bank head
UKRAINE - The Kiev Prosecutor-General's Office today announced the completion of an investigation into the case of the Top Servis Vostok company. The case involved 17 members of a crime gang who are accused of committing murder and arson in 1997-99 at…
Bank of Uganda introduces new cheques
UGANDA - Bank of Uganda (BOU) has announced the introduction of new cheques in a bid to standardise and improve the cheque operation system.
UK rates may head higher
UK - The Bank of England has given its clearest indication yet that interest rates may start to climb again in the near future.
Russian bank reform - key topic at autumn session
RUSSIA - Minister for Economic Development and Trade of Russia, German Gref, after the traditional meeting of Russia s President Vladimir Putin with the m embers of the Cabinet in the Kremlin informs, that Putin demands that actions o f the Central Bank…
Meyer takes aim at the Greenspan legacy
US - Kansas City Fed President Thomas Hoenig, who broke a recent pattern of Federal Open Market Committee unanimity by voting against a half-percentage-point rate cut on May 15, is not a real FOMC dissident, reports Dow Jones news.
C Bank - Favoured firms made $bn in Milosevic era
YUGOSLAVIA - Yugoslav companies given special privileges during the rule of Slobodan Milosevic creamed off more than 8.3 billion German marks ($3.66 billion) in extra profits, the central bank said on 18 July.
Bank of Italy merger veto curbs ambitions of banks
ITALY - Bank of Italy Governor Antonio Fazio's continued opposition to mergers between leading Italian banks is proving to be a big drag on the sector as domestic mergers and acquisitions are the only way Italian banks can grow to catch up with larger…
Thai bank agrees with cabinet time zone shift idea
THAILAND - The Thai cabinet intends to accelerate economic growth by turning clocks forward one hour, to bring Thai time in line with regional economic powerhouses such as Singapore, Malaysia and Hong Kong, the Bangkok Post reported Wednesday. Thailand's…