Central Banking
Cross-sector financial disclosure (update)
An international regulatory working group has released a set of guidelines to prompt all financial institutions to reveal more information about the risks they are running.
US economy stronger than expected
UNITED STATES - The US economy has grown by 2% during the first three months of 2001 - twice as fast as analysts had predicted.
Turkish Cypriot central bank governor resigns
CYPRUS - Mehmet Bayram, minister of economy and finance of [self-declared] the Turkish Republic of Northern Cyprus, has announced that Central Bank Governor Demirhan Sayiner resigned from office.
Hayami to resign (maybe)
BoJ governor, Masaru Hayami, arriving at the weekend's G7 meeting in Washinton denies reports that he is about to quit.
China CBank fights non-performing loans
The People's Bank of China has announced its intention to toughen standards for commercial banks Non-performing loans.
Thai Central Bank Cuts Forecast As Exports weaken
THAILAND - The Bank of Thailand (BOT) has slashed down this year's economic growth projections to 2.5-4 percent, from 3-4.5 percent, due to the weakening exports in light of the U.S. and Japanese slowdown, according to local T.V. news reports on Apr 27.
Parliament worries over euro note chaos
Fears are growing that the introduction of euro notes and coins on 1 January 2001 will create logistical nightmares for eurozone authorities.
Euro rates held steady
EUROPE - The European Central Bank has decided to leave interest rates unchanged after a scheduled board meeting in Frankfurt on Apr 26.
Economic outlook bleak for Japan
JAPAN - The Bank of Japan has painted a bleak economic picture of weak growth combined with intensifying deflation in its half-yearly report. But a 1.6% rise in retail sales in March from a year earlier provided a ray of hope for new Prime Minister…
Cavallo resumes control of Argentine economy
ARGENTINA - The fall of Argentine pro-Menem Central Bank chairman Pedro Pou has increased the power of Economy Minister Domingo Cavallo.
Optimal horizons for inflation targeting
ARTICLE - This paper investigates the problem of selecting an optimal horizon for inflation targeting in the United Kingdom. It was written by Nicoletta Batini and Edward Nelson of the Monetary Policy Committee Unit, Bank of England.
IMF's Koehler says he didn't intend to pressure EC
GERMANY - International Monetary Fund Managing Director Horst Koehler said he had never intended to put pressure on the European Central Bank to cut rates, but reiterated that a cut would help world and European growth.
Australian inflation lowers rate cut call
AUSTRALIA - Expectations of an interest rate cut have been lowered after the release of surprisingly high inflation figures. The Reserve Bank board is due to meet next week.
Inflation fears lower rate cut hopes
EUROPE - Prospects for an early reduction in interest rates by the European Central Bank receded further yesterday as higher than expected German inflation figures were announced.
Calls grow for ECB to cut rates
EUROPE - A United Nations body yesterday, Apr 24, called for the ECB to follow the lead of the US and cut interest rates if it wants to avoid a slide into recession.
Maccarone likely to replace Pou
ARGENTINA - A congress committee has recommended that Argentine president Fernando de la Rua fires Pedro Pou, president of Argentina's central bank. Banker Roque Maccarone is tipped as his replacement.
South African growth levelled in first quarter
SOUTH AFRICA - The Central Bank of South Africa reports that growth levelled in the first quarter of 2001.
Financial Regulation in South Africa 2000
Book - The South African Reserve Bank has published a book on the theory and practice, goals, trends, and instruments of financial regulation. It is titled "Financial Regulation in South Africa 2000" and is co-authored by Hans Falkena, Roy Bamber, David…
Monitoring the European Central Bank 3
BOOK - The Centre for Economic and Policy Research has published the third in its series of books monitoring the European Central Bank titled "Defining a Macroeconomic Framework for the Euro Area". It is co-authored by Alberto Alesina, Olivier Blanchard,…
International monetary policy cooperation
CENTRAL BANK RESEARCH - Giancarlo Corsetti and Paolo Pesenti at the New York Fed have written a staff report titled "International Dimensions of Optimal Monetary Policy". This article finds that the gains to be made from international monetary…
Overbidding problem in the ECB fixed rate auctions
ARTICLE - Dieter Nautz from Goethe University and Jorg Oechssler from Bonn University have written a paper "The repo auctions of the European Central Bank and the vanishing quota puzzle". The article examines the overbidding problem faced by the ECB in…
Central banks could own big chunk of US Tsys-UBSW
RESEARCH - Global central banks could own the entire supply of marketable U.S. debt by the end of 2006 as growing foreign exchange reserves force them to buy more ultra-safe U.S. government debt, according to a survey of central banks conducted by UBS…
US, Europe need not follow same policies-Issing
EUROPE - European Central Bank board member Otmar Issing said on Apr 23 globalization did not mean the United States and Europe needed to follow the same policies.
CSFB's Crisp sees more central bank gold sales
GOLD - Governments could step up gold sales in the coming decade, with even current non-sellers mobilizing bullion, but would do so with more transparency to a market dogged by uncertainty about central bank disposals, Credit Suisse First Boston's top…