Central Banking
Fed resisted surprise cut in rates
US - The Federal Reserve's committee of policymakers considered a surprise cut on 11 April but held off for fear of upsetting volatile stock markets.
Readiness for euro may be falling
EUROPE - Fewer European companies say they are ready for the introduction of euro notes and coins now than a year ago, according to a survey of big businesses in the euro-zone.
Putting euro banknotes and coins into circulation
Speech - Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank delivered a speech at the Euro 2002 Information Campaign conference hosted by the Banco de Portugal on 15 May.
Monetary Authority of Singapore Amendment Bill
SPEECH - Second reading speech of the Banking Amendment Bill by Lee Hsien Loong, DPM, Singapore and Chairman, MAS.
Basel Accord set to be softened
COMMENT - Discussions are under way within the Basel Committee on Banking Supervision on how to lessen the impact of their new capital rules after complaints that the new accord would create impossible demands on banks during recessions.
Central bank of Brazil confirms fraud
BRAZIL - After more than a year and a half of investigations, the Brazilian Central Bank now claims it has proof of white collar crime in the management of the now extinct bank Bamerindus.
Israel central bank head urges more market change
ISRAEL - Bank of Israel Governor David Klein urged the government on 17 May to resume the process of making structural changes in Israel's financial markets so that the country could better compete in the global economy.
Speech by Clifford Smout of the Bank of England
SPEECH - Speech by Clifford Smout, Head of Foreign Exchange Division at the Bank of England at the 'Euromoney' Forex Forum on 16 May 2001. Foreign Exchange as a Business in the 21st Century.
HM government gold auction result
UK - The Bank of England announces that the gold on offer (approximately 20 tonnes or 643, 200 ounces) has been allotted in full at a price of $268.00 per ounce.
Fed cuts rates by half a point
US - As was expected the US central bank the Federal Reserve has cut interest rates for the fifth time this year by 0.5%.
Turkey gains $8bn loan from IMF
TURKEY - In a meeting lasting more than five hours, the IMF board decided to give $8bn in new loans for Turkey and it will release $3.8bn of it immediately.
Fed sends clear signal of more rate cuts to come
US - Tuesday 15 May's interest rate cut of 0.5% by the Federal Reserve was the fifth consecutive half-point cut in short-term interest rates. Does this represent the end of the Federal Reserve's dramatic and unprecedented efforts to prop up the weakening…
Monetary policy and the economic outlook in Japan
SPEECH - Given by Kazuo Ueda, Member of the Policy Board of the Bank of Japan, at Council on Foreign Relations in New York, May 11.
Norges Bank keeps interest rates unchanged
NORWAY - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 16 May. Norges Bank's key rate, the sight deposit rate, remains at 7.00 per cent. The overnight lending rate also remains unchanged.
Reserve Bank of Fiji - Annual Report 2000
REPORT - The Reserve Bank of Fiji has published its 2000 annual report. Savenaca Narube, Governor and Chairman of the Board, talks about the chaotic year Fiji has faced in the foreward to the annual report.
Closing speech of 2001 ADB annual meeting
SPEECH - The Asian Development Bank (ADB) concluded its 34th annual meeting of the board of governors on 11 May. The meeting, which was held in Hawaii, finished with a speech from the President of ADB Tadao Chino.
New data poses US rate cut dilemma
US - For the fourth time this year the US central bank, the Federal Reserve, has to decide by just how much it will cut interest rates.
Address to the Asian Development Bank Meeting
SPEECH - Address by Paul H. O'Neill, Chairman of the Board of Governors and Secretary of the Treasury of the United States to the Asian Development Bank Annual Meeting, Hawaii 2001.
Bank of Estonia OKs takeover
The Estonian central bank today indicated that it would allow Swedish-owned Hansapank to take over Lithuanian Taupomasis Bankas.
Sri Lanka agrees on tight monetary policy with IMF
SRI LANKA - Sri Lanka toed the line of the International Monetary Fund (IMF) on 15 May and agreed that a tight monetary policy would be best to support the newly floated rupee and help achieve economic stability.
New M3 data allowed ECB cut says Issing
According to Otmar Issing, the European Central Bank's chief economist, the ECB's recent rate cut was facilitated by new money supply data, which showed M3 growing slower than the bank's reference rate.
Klaus makes visit to CNB
CZECH REPUBLIC - A meeting of Chamber of Deputies chairman Vaclav Klaus with the Czech National Bank (CNB) Board on 14 May at CNB's invitation can be understood as an expression of the central bank's readiness to shake hands and make up.
Roles of Thai central bank likely to be separated
THAILAND - Thai Finance Minister Somkid Jatusripitak said on 14 May that the central bank of Thailand will likely be separated into two independent organisations under a revised restructuring plan that he drafted.
The effect of pessimism and doubt on asset returns
RESEARCH - Andrew Abel analyses the effects of pessimism and doubt on asset returns in a working paper published by the Federal Reserve Bank of Philadelphia.