News

Bank of England warns on tax cuts

The Bank of England, the UK central bank, has warned that it is premature to rule out further interest rate rises and threatened an immediate response if the government makes big pre-election tax cuts.

Balcerowicz closer to becoming Polish c.bank chief

Leszek Balcerowicz, the architect of Poland's economic reforms after the 1989 fall of communism, looks increasingly certain to become the new chief of the country's central bank, politicians said on Tuesday.

ECB to mull raising M3 target to 5%

Bundesbank President Ernst Welteke said on Tuesday that the European Central Bank would discuss raising the reference value for M3 monetary growth to 5% from 4.5% at its December 14 meeting.

CBR deputy says may be changes in monetary policy

The Central Bank of Russia may introduce changes to major directions of the monetary policy, stated Georgy Luntovsky, the deputy head of the central bank, at today's press conference in Nizhny Novgorod.

Philippine central bank counters money laundering

The Philippine central bank said Tuesday it will create a special unit to look into possible money laundering transactions. The central bank said its policy-making monetary board authorised the special body to maintain a database of suspicious…

No comment on proposed Yugoslav central bank head

Montenegrin President Milo Djukanovic today sent a response to Yugoslav President Vojislav Kostunica, who had asked Djukanovic to voice his opinion about the nomination of Mladjan Dinkic to the post of governor of the Yugoslav National Bank.

SNB names Martin Hiller as new director

Swiss National Bank has appointed Martin Hiller, born in 1953, as a director and head of the personnel department with effect from 1 March 2001. The central bank also appointed Dr Hans Kuhn, a lawyer born in 1961, to be head of the legal service as of…

Probe begins at Bank into declining staff morale

The governing court of the Bank of England has ordered an investigation into falling morale at the Bank, following the introduction of a controversial new benefits package for staff.

Thai central bank clamps down on baht speculation

The Bank of Thailand clamped down further on baht speculation on Monday, telling local banks it would start strictly enforcing a ban on one-day, tom/next and forward dollar/baht deals with offshore parties if there was no underlying commercial purpose.

IMF says Turkey policy on track

The International Monetary Fund said in a statement released on its website that the Turkish government's IMF-supported economic programme was on track and is expected to remain so.

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