News

BOJ minutes-board votes 8-1 to keep policy-Jan 19

The Bank of Japan policy board members voted 8-1 to keep monetary policy unchanged at their Jan. 19 meeting, but a majority of the members said risks posed to Japan's economy from developments in overseas economies and domestic and foreign capital…

S&P monitors impact of Malaysian financial plan

The Financial Sector Masterplan recently announced by Malaysia's central bank is expected to improve the global competitiveness of the country's financial services sector, but its benefits are unlikely to be immediate, said a Standard & Poor's press…

Fabius cool to idea of ECB counterweight - paper

French Finance Minister Laurent Fabius has distanced himself from suggestions there should be an "economic government" for the euro zone to form a counterweight to the European Central Bank, according to a newspaper interview published on Mar 2, 2001.

Labuan IOFC to be further developed-Bank Negara

Bank Negara Malasyia, the Malaysian central bank, in its Financial Sector Masterplan has made recommendations to further develop the Labuan International Offshore Financial Centre (IOFC) in three main areas of activity.

Argentine cbank head called 'lax on control'

Argentine Central Bank President Pedro Pou opened the door for widespread money laundering with derelict financial controls, a member of a congressional committee investigating whether the banker should be dismissed said on Mar 2, 2001.

US 'debt free' by 2030 - Alan Greenspan

Testifying on Mar 2, 2001 before the Committee on the Budget of the US House of Representatives, Fed chairman, Alan Greenspan, outlined the implications of the US goverment's extraordinaryly healthy fiscal position.

US think-tank to study cross-border settlement

The Group of Thirty, the private Washington-based think-tank, is to undertake a new study of securities clearing and settlement arrangements in global capital markets, with a particular emphasis on cross-border activity.

Venezuelan cbank to introduce interbank ref rates

The Central Bank of Venezuela is planning to introduce a new electronic interbank trading system that should result in the creation of interbank rates of reference and greater efficiencies in interbank lending.

Argentine minister says bank chief 'should quit'

Argentina's Interior Minister said Mar 1, 2001 a congressional panel probing allegations the country's Central Bank chief turned a blind eye to money laundering should recommend the banker step aside.

ECB surprises by leaving rates unchanged

The European Central Bank on Mar 1, 2001 surprised financial markets by leaving interest rates unchanged, showing that it was not yet ready to follow a series of recent rate cuts by the world's other top central banks.

OECD's Visco -Fed should not overreact to slowdown

The U.S. Federal Reserve should not cut interest rates too much in the face of its slowing economy in case this jeopardised price stability, the chief economist for the Organisation for Economic Cooperation and Development, Ignazio Visco, warned on Mar 1.

Malaysia bars new foreign banks until 2007

Malaysia's central bank said on Mar 1, 2001 no new foreign banks will be allowed to enter the domestic market until after 2007, giving local banks time to prepare for a decade of trade liberalisation.

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