Central Banking
Financial crises in the emerging markets
A new paper just published by the Federal Reserve Bank of New York about financial crises in emerging markets and the role of the public and private sector.
Bank of England warns on tax cuts
The Bank of England, the UK central bank, has warned that it is premature to rule out further interest rate rises and threatened an immediate response if the government makes big pre-election tax cuts.
Balcerowicz closer to becoming Polish c.bank chief
Leszek Balcerowicz, the architect of Poland's economic reforms after the 1989 fall of communism, looks increasingly certain to become the new chief of the country's central bank, politicians said on Tuesday.
Venezuela cenbank director sees boom on horizon
Venezuela is "on the edge of an economic boom," predicts central bank director Armando Leon.
El Salvador move to dollars seen risky but viable
El Salvador must keep a tight rein on government spending to succeed with a controversial plan to introduce the US dollar into general use and jump-start its economy, economic analysts say.
ECB to mull raising M3 target to 5%
Bundesbank President Ernst Welteke said on Tuesday that the European Central Bank would discuss raising the reference value for M3 monetary growth to 5% from 4.5% at its December 14 meeting.
Riksbank says rate hike will come sooner or later
Villy Bergstroem, deputy governor of Sweden's central bank, the Riksbank, Tuesday reiterated earlier Riksbank statements that an interest rate hike will come sooner or later.
Euro more likely to recover than weaken-BoE's King
Europe's single currency was more likely to recover against other key currencies than to fall further, Mervyn King, deputy governor of the Bank of England, said on Tuesday.
Fed's Poole says preemptive Fed action crucial
St. Louis Federal Reserve President William Poole said on Tuesday the US central bank should monitor underlying causes of inflation such as money supply growth to help prevent price pressures from flaring up.
India reconstitutes RBI central board of directors
The Indian government has reconstituted the central board of directors of the Reserve Bank of India as part of a periodic reshuffle, a central bank statement said on Tuesday.
Central Bank of Nigeria slashes minimum rediscount
For the third time this year, the Central Bank of Nigeria has slashed the minimum rediscount rate from 16% to 14%, in a bid to encourage banks to reduce their lending rates.
CBR deputy says may be changes in monetary policy
The Central Bank of Russia may introduce changes to major directions of the monetary policy, stated Georgy Luntovsky, the deputy head of the central bank, at today's press conference in Nizhny Novgorod.
Philippine central bank counters money laundering
The Philippine central bank said Tuesday it will create a special unit to look into possible money laundering transactions. The central bank said its policy-making monetary board authorised the special body to maintain a database of suspicious…
No comment on proposed Yugoslav central bank head
Montenegrin President Milo Djukanovic today sent a response to Yugoslav President Vojislav Kostunica, who had asked Djukanovic to voice his opinion about the nomination of Mladjan Dinkic to the post of governor of the Yugoslav National Bank.
SNB names Martin Hiller as new director
Swiss National Bank has appointed Martin Hiller, born in 1953, as a director and head of the personnel department with effect from 1 March 2001. The central bank also appointed Dr Hans Kuhn, a lawyer born in 1961, to be head of the legal service as of…
Iran growth rate at 5%, says central bank
Iran's central bank governor said the economic growth rate stood at 5% in the current Iranian year, state radio reported on Tuesday.
ECB may intervene again - still upward price risks
The European Central Bank is ready to intervene again in foreign exchange markets if it deems it to be necessary, Bundesbank president and ECB governing council member Ernst Welteke said Tueday.
Guatemala moves towards opening up greenback use
Guatemala's ruling Republican Front (FRG) on Tuesday presented a bill to Congress proposing the liberalisation of the country's foreign exchange markets, as the first step toward dollarising the Central American economy.
BOE: Joining euro means return to tax and spend
Sir Eddie George, the governor of the Bank of England, said that the government would have to rely more on taxation and spending policy to control the economy if Britain joined the euro.
Bank of Japan can learn from Sweden on inflation
In a letter to the editor in Financial Times today, Professor Lars Jonung argues that the Bank of Japan can learn from the Riksbank in adopting a zero inflation target.
Probe begins at Bank into declining staff morale
The governing court of the Bank of England has ordered an investigation into falling morale at the Bank, following the introduction of a controversial new benefits package for staff.
Stiffer tests for future Eurozone members -Welteke
Ernst Welteke, president of the Bundesbank, has raised concerns about whether the countries preparing to join the European Union in the next few years would be ready to become members of the EU's single currency.
German treasury loses out over euro seigniorage
According to the German economics institute IFO, the introduction of the euro coins and banknotes at the beginning of 2002 will cause a financial loss to the German treasury of DM60bn.