News
Central banks key to financial stability-BOI, BOF
The internationalisation of institutions and financial activities has heightened the importance of national central banks in ensuring financial stability, the governors of the Bank of Italy and Bank of France said in separate speeches on Mar 9.
Norway government petroleum fund 2000 return 2.5%
Norway's government petroleum fund had a return on capital last year of 2.5%, when measured in terms of a currency basket that corresponds with the Fund's benchmark portfolio, the Norwegian central bank reported on Mar 9.
Asian currency swap idea 'acceptable'-Manila c.bnk
The Philippines is basically happy with the concept of an Asian web of currency swaps aimed at fending off future financial crises and is forging ahead with discussions on terms, deputy central bank governor Amando Tetangco said on Mar 9, 2001.
Fed's Ferguson-monetary policy unhurt by mergers
A global wave of financial mergers and acquisitions in the 1990s, totaling 7,500 deals valued at about $1.6 trillion, has not affected central banks' ability to set interest rates, Federal Reserve Vice Chairman Roger Ferguson said Mar 9, 2001.
Vietnam cbank launches electronic payment system
The State Bank of Vietnam (SBV) has completed the technical side of its US$13.2 million inter-bank payment project funded by the World Bank-funded, SBV Governor Le Duc Thuy announced.
Finnish cbank transfers 129m euros to govt
The Bank of Finland has transferred 42% of its 309m euros profit to the government, the first time the bank has had to pay money to the state since 1984.
India's Jalan says bias to cut rates remains
The governor of India's central bank, which cut interest rates twice in recent weeks, said he continues to have a bias toward easing rates.
New Somali central bank governor sworn in
Mahmud Muhammad Ulusow has been sworn in as the new head of the Central Bank of Somalia.
Euro entry means democracy deficit-Swedish cbanker
Swedes would be less able to call the people who decide their monetary policy to account if the country joined the EU's single currency, the deputy governor of the country's central bank said on Mar 8, 2001.
No plan to drive yen lower, Hayami says
Bank of Japan Governor Masaru Hayami said on Mar 8, 2001 he was alert to the risk of a vicious deflationary cycle but firmly denied that he wanted to push the yen lower to induce inflation.
BOI Desario-Mergers not the only way to efficiency
The Bank of Italy director general Vincenzo Desario said Mar 8, 2001 that bank mergers were not the only way to achieve efficiency and competitiveness in the banking system.
Bank of Greece to up 2000 dividend
Bank of Greece, the country's central bank, said on Mar 8 that net profit in fiscal 2000 rose 52 percent to 167.2 billion drachmas ($457 million) versus 110.1 billion in 1999.
Bank of England holds rates at 5.75% for now
The Bank of England left its key interest rate steady at 5.75 percent on Mar 8, declining to cut rates despite a deteriorating global economic outlook.
Hungary Jarai-wider euro/forint band in 12-18 mos
The Hungarian forint's trading band could be widened in 12 to 18 months, recently appointed central bank governor Zsigmond Jarai told business daily Vilaggazdasag in an interview published Mar 8, 2001.
China shareholding banks must reform further-PBOC
Shareholding commercial banks must be encouraged to further improve their corporate management structure and financial services to develop in a sound, steady way, said the governor of the People's Bank of China.
RBA appoints Frank Campbell as assistant governor
The Reserve Bank of Australia has announced the appointment of Frank Campbell to the post of Assistant Governor, Corporate Services department.
Solomons stares into economic abyss- cbank chief
The Solomon Islands is just weeks away from economic collapse, with a real risk the South Pacific nation will simply disintegrate, the country's central bank governor, Rick Houenipwela, warned on Mar 7, 2001.
CBC gov favours listing of Taiwan firms in China
Perng Fai-nan, governor of Taiwan's central bank, said on Mar 7, 2201 that he personally endorses Taiwanese manufacturers that have set up companies in mainland China to get listed on the mainland's stock markets for fundraising purposes.
Performance of Norway's oil fund announced-Mar 9
Norway's Oil Fund will annouce its results on Mar 9, 2001 when it presents its annual report for 2000 at a press conference.
US rebound likely later this year-McDonough,Moskow
William McDonough and Michael Moskow, in separate speeches on separate continents, said on Mar 8 that a rebound was likely later in 2001.
Joint euro steering group to tackle counterfeiters
The European Central Bank, European Commission and Europol on Mar 7, 2001 said they had jointly developed an action plan to combat would-be euro cash counterfeiters.
Berlin cbank president opposes ECB rate cut-paper
The European Central Bank shouldn't move to cut interest rates before euro-zone inflation reaches 2.2%, Landeszentralbank president Klaus-Dieter Kuehbacher said in an interview.
Russia cbank says too soon to ease forex sale rule
Russian Central Bank Chairman Viktor Gerashchenko said in an interview published on Mar 7, 2001 that it was too early to reduce the percentage of foreign currency receipts that Russian exporters are required to sell in exchange for roubles.
Japan foreign reserves fall in Feb on weak euro
Japan's foreign reserves, the largest in the world, fell in Feb 2001 for the first time in six months, hit in part by a decline in the euro, a Finance Ministry (MOF) official said on Mar 7.