News
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.
Yugo cenbank plans managed float for dinar in 2001
Yugoslavia's central bank said on Wednesday it was planning to abandon its rigid fixed exchange rate policy in 2001 and move to a managed float for the dinar.
IMF offers $10bn to ease Turkish banking crisis
The International Monetary Fund said it will provide more than $10 billion in financial support for Turkey to help ease a sharp liquidity crisis that has sent the country's interest rates soaring and depleted central bank reserves.
Problem with BOE inflation forecast, says Fed Kohn
The Bank of England's forecast round and quarterly Inflation Report don't present a clear picture to policymakers, markets or the wider public, Don Kohn, director of monetary affairs at the US Federal Reserve Board in Washington, said Wednesday.
PNG should adopt the Aust dollar, says expert
Papua New Guinea should adopt the Australian dollar to ensure economic stability, an expert on developing Asia Pacific economies advised today.
Ecuadorian colonel says lift bank secrecy veil
Former Colonel Lucio Gutierrez, who led the January coup that removed President Jamil Mahuad from office, called on the Ecuadorian government to lift the bank secrecy act and reveal the names of the beneficiaries of the March 1999 bank holiday decreed by…
Danish cenbank may step up market operations
The governor of the Danish central bank said Wednesday that the bank may step up its activity in the money markets if industry consolidation reduces market efficiency.
Jusko says Slovak crown's losses nothing special
The current losses posted by the Slovak crown to the euro are nothing unusual, Marian Jusko, the governor of the National Bank of Slovakia, told reporters today.
Singapore announces changes in currency policy
The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and…
BOC warns of inflation risks, keeps rates on hold
The Bank of Canada pointed to inflation risks lurking in the economy, but left interest rates unchanged yesterday in the first of its regularly scheduled policy announcements.
Buba views on Eurozone enlargement upset hopefuls
The Bundesbank's bid to make joining the Eurozone tougher for eager east European applicants has upset candidates but analysts said it will be politically impossible to make the demand stick.