Central Banking
BIS says US gold scheme suit 'without merit'
The Swiss-based Bank for International Settlements rejected as baseless on Tuesday a US lawsuit alleging the BIS conspired with central banks and major international investment houses to keep the price of gold low.
BCB Fraga on the list of presidential candidates
Right-wing coalition PFL party president Jorge Bornhausen named Banco Central do Brasil chairman Arminio Fraga as a candidate for the 2002 presidential elections who could achieve unanimity between the government coalition.
Staff morale inquiry at BoE could take 6 months
An inquiry into ailing staff morale at Britain's central bank ought to be completed within six months, a member of its governing body said on Tuesday.
Buba's Welteke says ECB rates appropriate now
Bundesbank President Ernst Welteke said on Tuesday that current Eurozone interest rates were appropriate and reiterated that the European Central Bank's monetary policy was not hampering economic growth.
Czech central bank concerned about external growth
A possible slowdown of Western European economies is identified as a risk to growth in the coming months, according to minutes released Tuesday by the Czech National Bank from the most recent policy meeting.
Dutch inflation harms competitive position-Wellink
The Netherlands' competitive position is deteriorating due to inflation above the European average and higher wage demands, Dutch central bank president Nout Wellink said in an interview with a Dutch newspaper.
Manila may cut reserve requirements in January
Philippine central bank governor Rafael Buenaventura said the bank may delay lowering bank reserve requirements until January next year.
Failure to reach agreement over ex-Yugo gold
The governors and vice-governors of central banks which emerged after the break-up of the former Yugoslav federation failed to reach an agreement on the distribution of gold and foreign currency reserves at the International Bank for Settlements in Basel…
Namibia City Savings Investment Bank board sacked
An interim board has been appointed to run the troubled City Savings and Investment Bank (CSIB) whose previous directors angered the Bank of Namibia so much it fired them all.
Brazil cbank chief loses cool in Congress hearing
Brazil's master of monetary policy, central bank chief Arminio Fraga, lost his calm demeanor for once on Tuesday in a rare outburst, slamming a left-wing lawmaker who accused the bank of not doing enough to cut interest rates.
Uruguay to see 2% growth in 2001
Uruguay's economy minister said Tuesday he expects the small South American economy to shake two years of recession and economic stagnation and grow by 2% in 2001.
Slovak cbank to lower reserve requirement in 2001
Some monetary policy instruments of the National Bank of Slovakia will undergo changes in the future, according to vice governor Elena Kohutikova.
Welteke against hasty Emu entry for new members
One day after the signing of the agreement in Nice, Bundesbank President Ernst Welteke has warned against the hasty acceptance of new members into the EU's monetary union.
US academic applauds S.Africa's monetary policy
A leading Harvard University academic endorsed the South African Reserve Bank's inflation targeting on Tuesday and said the country's monetary policy was in sound health.
Romania c.bank head sees 2001 inflation lower
Romania's central bank acting governor Emil Ghizari said on Tuesday inflation was expected to slow down to between 22% to 25% next year from an official estimate of about 40% in 2000.His prediction was in line with previous official forecasts.
Kuwait to study rate changes after moves abroad
Kuwait's central bank, under pressure to cut the discount rate to help the economy and a sagging stock market, said on Tuesday it would decide on changes after studying the impact of expected interest rate cuts abroad.
ECB's Quaden sees interesting debate on M3 goal
European Central Bank governing council member Guy Quaden said on Tuesday he could live with deviations from the bank's reference value for M3 money supply growth.
Canada's dollar - to fix or not -Friedman, Mundell
In an exclusive e-mail exchange arranged by Canada's Financial Post, Nobel Prize-winning economists Milton Friedman and Robert Mundell debate the future of the world currency system, from the euro to the Canadian dollar. This is the second installment in…
Hanoi eases rules on using land as collateral
Vietnam has relaxed rules governing the use of land rights as collateral to borrow from commercial banks, a move aimed at stimulating investment, a central bank official said on Tuesday.
Nigerian banks urged to strengthen controls
Banks operating in Nigeria have been urged by a former banking supervisor to embrace effective internal controls to safeguard their financial integrity, protect depositors' funds and forestall fraud.
Study says EU membership might not boost growth
According to a Bank of Estonia study, Estonia's economic growth would not receive an automatic boost after Estonia joins the European Union.
BOJ eyes extension of settlement system operation
The Bank of Japan said Monday it is considering operating its settlement system until 5:30 p.m., instead of an earlier-planned 5 p.m., on days for issuance of certain government securities.
Ugandan banks cautioned on margin fixing
The deputy governor Bank of Uganda, Dr Louis Kasekende, has warned commercial banks not to form cartels, in order to fix margins.
Estonia Securities Inspection to get new director
Estonian officials said on Monday that a state selection committee had nominated central bank official Kristjan-Erik Suurvali to become director general of the Securities Inspection.