News
No need to return to zero-rate policy - Miyazawa
Japanese finance minister Kiichi Miyazawa said Friday he does not think the Bank of Japan needs to restore its zero-interest-rate policy, although the economy needs to be watched carefully in the areas of personal consumption and employment.
NBS approves draft bank law, 2001 money programme
The board of the National Bank of Slovakia today approved the monetary programme for next year and the draft law on banks which is designed to bring Slovak banking closer to the EU rules, Jan Onda, spokesman for the NBS, said to reporters.
Fund seeks its own watchdog
The International Monetary Fund's Executive Board has named Ray & Berndstson, a US-based international executive search firm, to identify candidates for the position of Director of the IMF's newly created independent Evaluation Office.
Buba says many points in Basel Accord unresolved
Germany's Bundesbank said on Thursday regulators had left many points unresolved after meeting in New York this week to review changes to the Basel Accord on global banking regulations.
Welteke plays down EMU warnings ahead of Nice
Bundesbank President Ernst Welteke on Thursday played down his earlier warnings about allowing eastern European countries into the Eurozone too soon, just as a difficult summit on EU enlargement started in Nice.
Amended CNB law worsens EU accession chances
The Chamber of Deputies today did not identify itself with the arguments of the European Commission and decided that the controversial amended law on the Czech National Bank will take effect on 1 January 2001, central bank spokesman Milan Tomanek told…
Lithuanian and Polish cbanks sign supervisory deal
Governors of the central banks of Poland and Lithuania on Thursday signed an agreement to facilitate banking supervision between the two countries.
Yugoslav parliament appoints cbank deputy governor
Yugoslavia's parliament appointed a Montenegrin deputy central bank governor on Thursday, ending a row over the post that threatened to postpone Belgrade's return to the International Monetary Fund this month.
Fraga says Brazil inflation on target in 2001
Brazil's central bank president Arminio Fraga said on Thursday that inflation in Latin America's biggest economy was on track at 4% for 2001, despite a pending new minimum wage increase.
Italy govt bides time over court bank-loan ruling
Italian Treasury minister Vincenzo Visco said on Thursday the government had yet to decide what action to take after the Supreme Court ruled banks should refund loan interest payments amounting to billions of euros.
Balcerowicz proposed for Polish central bank chief
Poland's president on Thursday named Leszek Balcerowicz, the architect of the country's free market reforms in the early 1990s, as his candidate to become the new central bank chief, the presidential press office said.
Zimbabwe foreign payment arrears reach $488m
Zimbabwe's foreign payment arrears, a result of severe hard currency shortages, stood at $488m in November, according to statistics published by the Reserve Bank of Zimbabwe this week.
UK supervisor warns banks over telecom exposure
Britain's financial regulator on Thursday intensified pressure on banks to display vigilance in managing their multi-billion dollar exposure to the telecom sector.
Riksbank hikes rates, policy stance to neutral
The Riksbank said that its 25 basis point hike that raised the repo rate to 4.0% Thursday was based on its new assessment that inflation would rise above the central bank's 2% limit in two year's time in the absence of tighter monetary policy.
Netherlands: Discord over bourse policing
Supervisors of financial institutions in the Netherlands disagree over the division of tasks over the control of share trading. The conflict centres on the role of the Dutch securities board with regard to institutions which fall under one of the other…
Fujiwara-Can't say if return to zero rate possible
Bank of Japan deputy governor Sakuya Fujiwara said on Thursday he could not say whether it was possible to return to a policy of guiding the key overnight call rate virtually to zero.
HKMA seeks right to approve senior bank staff
Hong Kong's quasi-central bank Monday proposed a regulatory change which would give it the power to approve the appointment of senior management at the city's banks.
Macedonia seeks bigger share of Yugoslav gold
Governor of the Central Bank of Macedonia Ljube Trpeski said that Macedonia and Bosnia-Herzegovina will request the Bank for International Settlements in Basel to change the formula for sharing of foreign currency reserves in gold of the former National…
Nigeria pressurises banks to reduce interest rates
The Central Bank of Nigeria has mounted pressure on commercial and merchant banks to reduce their lending interest rates.
Ex-Greenland staff sue Bank of Uganda
Four hundred and eight former employees of Greenland Bank have sued the Bank of Uganda and their former employer for non-payment of gratuity, pension and terminal benefits.
Lithuania should keep currency board - NBP chief
Lithuania should keep the currency board model as long as the situation of country's economy is unclear, the president of the Polish central bank said in the Vilnius conference on Thursday.
Indonesia Ramli welcomes back Syahril Sabirin
Indonesian coordinating minister for economic affairs Rizal Ramli welcomed Wednesday the release of the country's central bank governor Syahril Sabirin from his house arrest status, hoping that no changes would be made in term of monetary policies.
Summers welcomes IMF aid for Turkey
The United States on Wednesday welcomed a $10 billion rescue package agreement between the International Monetary Fund and Turkey, saying that its financial stability was important to the US.
Credit Suisse face Abacha money laundering probe
Switzerland's banking regulator said Wednesday that it filed a formal complaint against Credit Suisse Group over its acceptance of millions of dollars linked to the late Nigerian dictator General Sani Abacha.