News
Impact of euro cash set to be 'low'
GERMANY - Deutsche Bank, Germany's biggest bank, has warned against overestimating the potential disruption generated by the change to euro cash at the start of next year. The bank said it was more likely to be a "big bang" with "little impact" on…
Greenspan says monetary policy still works
US - Federal Reserve Chairman Alan Greenspan said today, 24 July, that changes in monetary policy are still able to boost the economy, even as the U.S. economy has continued to drag after a series of Fed rate cuts.
Dutch central bank sold gold last week
NETHERLANDS - Figures from the Dutch central bank on 24 July showed its gold reserves fell by 20 million euros last week.
BIS urges watch on Asian c.bank balance sheets
AUSTRALIA - The Bank for International Settlements said today, 24 July, more attention should be paid to the balance sheet independence of central banks in Asia.
Thai c.bank to finalise new forex rules this week
THAILAND - A senior Bank of Thailand (BOT) official said on 24 July changes to forex trade reporting rules for foreigners would go to the governor for approval this week.
Asia-Pacific bank governors meet in Australia
AUSTRALIA - Central bank governors and deputies from the Asia-Pacific region met today, 23 July in Australia, but their discussions were held in private and no communique was released.
Bank Indonesia extends capital adequacy deadline
INDONESIA - Bank Indonesia has extended its deadlines for banks to achieve a minimum capital adequacy ratio (CAR) of 8 per cent.
O'Neill plays down Argentine contagion risk-report
UK - U.S. Treasury Secretary Paul O'Neill sees little likelihood of contagion spreading to other emerging market economies as a result of Argentina's financial crisis, the Economist magazine reported.
Philippine Bank will strictly enforce Forex rules
PHILIPPINES - In a stern warning to banks deemed responsible for several days of volatility in the peso market, the Philippine Central Bank said today, 23 July it will strictly implement existing sanctions against violators of foreign exchange rules,…
O'Neill believes ECB is not fully independent
US - U.S. Treasury Secretary Paul O'Neill said on 23 July that the European Central Bank is not totally independent from the views of the most influential member states of the euro zone.
Brazil heavyweights head to US to broker IMF deal
BRAZIL - Heavyweights from Brazil's central bank, finance ministry and the planning and budget ministry will be in Washington D.C. this week to negotiate a new accord with the International Monetary Fund, according to Valor on 23 July.
Philippine bank mulling reserve requirement hike
Philippines - The Philippine Central Bank is considering raising the liquidity reserve requirement of commercial banks, a move that could help damp speculative pressure building on the peso.
IMF press conference in London
UK - At 10am UK time today, 20 July, Garry Schinasi chief of the IMF's Capital Markets and Financial Studies Division spoke at a press conference held at the Bank of England.
Non-bank Chinese institutions need funding
CHINA - China's central bank wants to draw private capital into investing in hundreds of cash-starved non-bank financial institutions to boost their financial strength, according to China Securities.
Korea needs to monitor emerging markets
SOUTH KOREA - BOK Gov. Korea should pay close attention to developments in Latin American markets to prevent shockwaves reaching the peninsula, Bank of Korea (BOK) Gov. Chon Chol-hwan said on 18 July.
Argentina softens economic reforms
ARGENTINA - The Argentine government is to soften its belt-tightening economic reforms after two days of crippling strikes and protests.
Russian major bank ratings improve
RUSSIA - Fitch, the international rating agency, has changed the Outlook to Positive from Stable assigned to the Long-term ratings of 'B' of the Savings Bank of the Russian Federation (Sberbank) and Vneshekonombank (VEB). The banks' Short-term,…
Kenyan c bank chief laments rising interest rates
KENYA - The Central Bank of Kenya said on 18 July its efforts to restructure the government's debt were on track but lamented its inability to keep interest rates down due to a squeeze in government finances.
Singapore MAS to hold 30th anniversary conference
SINGAPORE - The Monetary Authority of Singapore (MAS) will host a central bankers' conference tomorrow, 20 July to mark its 30th anniversary, the central bank said in a statement on Wednesday 18 July.
Central bank Cooperation planned
POLAND - The National Bank of Poland (NBP) has officially signed cooperative agreements with its French and Italian counterparts at a ceremony in Warsaw.
Bank of Canada names deputy gov of finance markets
CANADA - Sheryl Kennedy has been asked to serve as deputy governor of financial markets for Bank of Canada.
Philippine bank expands dollar hedging facility
PHILIPPINES - The Philippine Central Bank said today, 19 July, its policy- making Monetary Board has approved the expansion of coverage under the currency risk protection program, a hedging facility managed by the monetary authority.
Eurostat launches online economic database
UK - The European Union's statistical office Eurostat has launched a "Euro-indicators" subscription database aimed at economists and other professionals, some of whom complain that detailed data are hard to obtain.
ECB leaves interest rates unchanged
GERMANY - The European Central Bank (ECB) left eurozone interest rates unchanged, despite evidence of an economic slowdown.