Central Banking
UK MPC voted unaminously for Feb rate cut-minutes
Minutes of the Bank of England's Monetary Policy Committee meeting in early February 2001 showed all nine members backed the cut to 5.75 percent, with some seeing a case for a half point reduction in borrowing costs.
UK: Trichet says confidence key to euro
Bank of France Governor Jean-Claude Trichet said on Feb 21, 2001 confidence was key when policymakers spoke of a strong euro.
Israel cbank labour unrest may block rate decision
The Bank of Israel cautioned on Feb 21, 2001 that it might not issue its next discount rate announcement on schedule because of continued labour unrest at the bank.
ECB's Issing-price risks more balanced, not gone
European Central Bank Chief Economist Otmar Issing reiterated on Feb 21 that while price risk in the euro zone were increasingly balanced some threats to price stability still lingered on.
Dual banking system viable in Malaysia - Zeti Aziz
The dual banking system - the side by side Islamic and conventional banking operations approach - has proven to be workable in Malaysia although it may not be applicable or suitable for others, Bank Negara Malaysia Governor Dr Zeti Akhtar Aziz said on…
MAS Quarterly Report on Financial Markets- Feb 01
The Monetay Authority of Singapore has just published on Feb 21, 2001 its Quarterly Report on Financial Markets.
Lithuanian govt backs draft bill for litas repeg
The Lithuanian government on Feb 21, 2001 approved and sent to parliament an amendment aimed at clearing the way for a shift in the litas currency's peg to the euro from the dollar with no devaluation, officials said.
Bank of France rejects lax bank monitoring charge
France's central bank on Feb 21, 2001 rejected charges by parliamentary deputies that it had been lax in dealing with money laundering risks during the surveillance of a Swiss bank's subsidiary in France.
Argentine senate to probe entire Pou tenure-papers
A Senate panel charged with investigating the possible mishandling of evidence by central bank president Pedro Pou in a recent money laundering case will instead probe all of Pou's actions since he took office, local newspapers reported.
Belarus agrees on IMF terms to launch monitoring
Belarus accepts the terms of the International Monetary Fund that require implementation of a monitoring program, the Belarus premier Vladimir Yermoshin told journalists on Feb 21, 2001.
Mexico inflation views to dip on Feb data-Ortiz
When economists receive data on Mexican inflation for the month of February 2001 they will move to trim their forecast for the country's inflation for the full year 2001, the country's central bank chief said on Feb 21, 2001.
Gyorgy Szapary appointed Hungary cbank vice-pres
Gyorgy Szapary was appointed to the post of National Bank of Hungary vice president for a term of six years by Hungarian president Ferenc Madl on Feb 21,2001.
Fed's Parry sees U.S. rebound after rough patch
The U.S. economy may hit a rough patch in the next few months but should rebound to a modest growth rate by year-end, Federal Reserve Bank of San Francisco President Robert Parry said on Feb 21, 2001.
CBN Sanusi warns against repeating past mistakes
Nigeria's central bank governor, Joseph Sanusi, has warned against the growing clamour for a draw-down of the Excess Crude Reserve Account by state and local governments.
Indonesian Wahid's advisers say rethink c.bank law
Prominent foreign advisers to Indonesia's embattled president, including ex-Fed chairman Paul Volcker, urged him to stick with the IMF and to drop current proposals to revamp the central bank law which have become a nasty thorn in relations with the Fund.
Cbanks should be pre-emptive - Fed's Gramlich
U.S. Federal Reserve Governor Edward Gramlich said on Feb 20, 2001 central banks had to move preemptively given the time it took for their actions to feed through to the economy. He advocated the use of forward-looking, flexible, inflation targetting as…
Belgian central bank issues loans warning to banks
The National Bank of Belgium used its annual report on Feb 20, 2001 to fire a warning shot to commercial banks about lending to high tech firms. The central bank, which is pitching to take on a greater role in banking supervision in Belgium, said banks…
Singapore appoints new managing director for MAS
The Monetary Authority of Singapore (MAS) said on Feb 20, 2001 it had promoted deputy managing director Tharman Shanmugaratnam to managing director for a two-year term starting on April 1, 2001.
Islamic banking needs standardisation - Iran gov
Dr Mohsen Nourbakhsh, Iran's Central Bank (CBI) Governor, said that Islamic banking has a lot of work to do in raising its international banking standards. "We have to strengthen the different interpretations of Shariah Law in order to harmonize the…
India economy can grow at least 8 pct per yr-RBI
India's central bank chief said on Feb 20, 2001 said he was confident the country could post annual growth of at least eight percent in the medium term. He added the economy was resilient enough to handle external and internal shocks such as last month's…
Israeli finance min slams cbank profits policy
Israeli Finance Minister Avraham Shochat on Feb 20 accused the Bank of Israel of making changes in the system it uses to calculate profits, depriving the government of billions of shekels in revenues.
Turkish cbank governor-no reason to devalue lira
Turkey has no reason to devalue its currency, as the central bank is firmly keeping monetary aggregates in line with the IMF-backed anti-inflation program, central bank Governor Gazi Ercel told the CNN Turk TV channel on Feb 19, 2001.
N Korea to take Chinese approach to development
Lim Dong-won, director of North Korea's National Intelligence Service said on Feb 20 that the communist government would pursue a Chinese-style policy of separating politics from economy to introduce a market economy, while maintaining the socialist…
Argentina widens Central Bank laundering probe
An Argentine Congressional panel overseeing the Central Bank on Feb 20 widened a money laundering probe of its chief to include its board of directors in a scandal that threatens a recovery in Latin America's third largest economy.