News
Costa Rica to maintain exchange rate policy
Costa Rica's central bank said on Thursday it would continue with mini-devaluations of its currency against the dollar, despite complaints that it makes local business less competitive.
HKMA Yam on the future of the financial industry
Joseph Yam, chief executive of the Hong Kong Monetary Authority, has written a number of articles in his regular column the HKMA website on the technological revolution now in full flood. In this week's column, he imagines what life might be like for the…
Russian and Iranian central banks sign agreement
Today, the central banks of Russia and Iran signed a collaboration agreement. The agreement outlines cooperation between the banks in developing trade and economic cooperation between Russia and Iran.
Taiwan central bank says forex policy unchanged
Taiwan's central bank said on Wednesday it would maintain its policy of "dynamic stability" in the foreign exchange market after surprisingly allowing the local dollar to fall to a 19-month low.
Zdenek Tuma likely to become new CNB chief
Zdenek Tuma will become the head of the Czech National Bank, according to information published in today's daily press, replacing Josef Tosovsky who moves to the BIS Financial Stability Institute as of December 1.
Italy MTS to adopt RTGS system soon
MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.
Slovak central bank two day policy meeting
The board of the National Bank of Slovakia will hold a two-day meeting on current and 2001 monetary policy on Thursday and Friday, central bank spokesman Jan Onda said on Wednesday.
A$ bounces back from record lows
The Australian dollar bounced back from this week's record lows against the US dollar on Wednesday, buoyed by talk of central bank support in the options market.
New vice presidents suggested for Hungary cenbank
Hungarian daily newspaper Nepszava gave a list of the likely nominees for the post of new vice presidents at the National Bank of Hungary after the tenure of the current President Gyorgy Suranyi expires on March 1.
UK's MPC voted 9-0 for unchanged rates in November
The Bank of England's monetary policy committee (MPC) voted unanimously for a second month running in November to leave interest rates unchanged at 6%.
Russia central bank to develop smart card market
Sergei Mikhailov, deputy director of the information systems department of the central bank, has announced that the bank is interested in developing the smart card market.
Liquidity gridlock feared from Japan's RTGS launch
Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.
Credit Suisse says RBNZ won't change cash rate
New Zealand's Reserve Bank is expected to leave the official cash rate unchanged early next month because of uncertainty about the country's medium-term inflation outlook, Credit Suisse First Boston (NZ) Ltd. said Wednesday.
Wahid won't interfere with Bank Indonesia
Indonesian President Abdurrahman Wahid will not interfere in negotiations over changes to the law governing the central bank, his spokesman said on Wednesday.
BOJ voted 8-1 to maintain policy on Oct 13-minutes
The Bank of Japan (BOJ) Policy Board voted 8-1 to maintain its policy of targeting the unsecured overnight call rate at 0.25 percent at a meeting on October 13, minutes from the meeting showed on Wednesday.
Fiji 2001 budget forecasts slow economic recovery
Fiji's post-coup government on Wednesday delivered its calendar 2001 budget, predicting a slow recovery in the South Pacific nation's economy which has been battered by a nationalist coup and failed military mutiny. The central bank has predicted that…
Indonesia regulators seek banking consolidation
Indonesia might close or merge more than 100 banks within three years in its battle to create a strong financial system, the Indonesian Bank Restructuring Agency said.
Brussels raises Eurozone inflation forecast
The European Commission revised upwards its inflation forecasts for the euro-zone and said European economic growth, though relatively strong, was unlikely to equal US growth until 2002.
Economists hit Malaysia's dollar peg
Malaysia should get rid of its currency peg to the dollar and fix the exchange rate to a trade-weighted basket of currencies instead, said several economists speaking at a conference in Kuala Lumpur.
Indonesia central bank reform highly politicised
Messy and highly politicised attempts to revamp Indonesia's central bank are the latest blow to stumbling efforts to resurrect a battered economy. Economists and banking sources said the attempts to resolve a huge loan controversy centred on the bank…
BOJ commits to Jan 4 real-time settlement launch
Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.
Philippine economy seen growing 4% in 2000
The Philippines' central bank said on Tuesday the economy may post four percent growth year-on-year in the third quarter, backed by a strong performance by the agriculture sector. Central bank deputy governor Armando Tetangco cited the 3.49% growth in…
Fraga welcomes BSCH bid for Banespa bank
Spain's Banco Santander Central Hispano was the surprise high bidder for Banespa yesterday, claiming Brazil's state bank for an unexpectedly high US$3.6bn. Arminio Fraga, Brazil's central bank president, welcomed the bid.
Taiwan BoP suffers from capital flight
After eight quarters in surplus, Taiwan's balance of international payments fell into deficit territory in the third quarter of this year as the result of a sharp fall in the capital account, the Central Bank of China revealed yesterday.