News
Outgoing Slovenia c.banker warns against inflation
SLOVENIA - Slovenia's outgoing central bank governor France Arhar said on Mar 28, 2001 the country should limit the growth of wages to battle high inflation.
BOE Julius to leave central bank in 2 months-FT
UNITED KINGDOM - DeAnne Julius, one of the most dovish members of the Bank of England's rate-setting Monetary Policy Committee, is poised to leave the central bank in two months.
Poland cuts interest rates by 100 bp
POLAND - Poland's Monetary Policy Council (MPC) cut its interest rates on Mar 28, 2001 by 100 basis points to between 17 and 21 percent, the National Bank of Poland said in a statement.
Fitch cuts Czech currency rating, crown hit
CZECH REPUBLIC - International rating agency Fitch on Mar 28, 2001 cut the Czech Republic's long-term local currency rating, knocking the crown off recent historic highs, though analysts said the currency's firming trend remains.
S.Africa govt says gradual reduction of NOFP best
SOUTH AFRICA - South Africa's Treasury said on Mar 28, 2001 it was committed to steadily reducing its uncovered forward foreign exchange exposure and would not borrow massively abroad to do so.
Fed survey: US banks growing wary of lending
UNITED STATES - A special survey conducted by the Federal Reserve reveals that credit terms from US banks have continued to tighten since January
Duisenberg to give way to Trichet mid-02-Lemierre
EUROPE - The European Central Bank on Mar 27, 2001 declined to comment on remarks by a senior European banker suggesting ECB President Wim Duisenberg will step down in mid-2002 to make way for Bank of France head Jean-Claude Trichet.
Thai PM goes easy on ex-central bankers
THAILAND - It is premature to blame two former central bank governors for costing the state 44 billion baht in the failed attempt to defend the baht in 1996-97, Thailand's prime minister said on Mar 26, 2001.
House committee urges RBA to increase transparency
AUSTRALIA - A two-year study of international financial markets by Australia's House of Representatives economics committee has concluded that the the Reserve Bank of Australia has to explain more about its monetary policy decisions and economic thinking.
Bank of Israel cuts April lending rate to 7.2%
ISRAEL - The Bank of Israel said on Mar 26, 2001 it was lowering its key lending rate to 7.2 percent in April 2001 from 7.5 percent in March, fractionally above market expectations of a 0.2 percentage point cut.
Iceland c.bank intervenes to help falling crown
ICELAND - Iceland's central bank intervened on the local foreign exchange market on Mar 26, 2001 for the second straight session to support the falling Icelandic crown, but with limited success.
Algeria increases number of MPC members
ALGERIA - According to Algerian TV on Mar 24, parliament approved amendments to the law of Algeria's central bank, allowing the president to nominate the governor and deputy governors.
Euro drop in 2000 was normal dip - Fed's Poole
EUROPE - The euro's weakness against the dollar last year was a "perfectly normal" dip of a sort which all currencies suffer from time to time, Federal Reserve Bank of St. Louis President William Poole said on Mar 27, 2001.
Laos cbank governor appointed finance minister
LAOS - In a government reshuffle which saw Laotian deputy prime minister and finance minister Bounnyang Vorachit elected prime minister on Mar 27, 2001, central bank governor Soukan Mahalath was elected to succeed Bounnyang as the new finance minister.
J.P. Morgan to include Singapore in GBI Board
SINGAPORE - Singapore will become the 22nd country in J.P. Morgan's Government Bond Index Board (GBI Board) starting on April 2 with a 0.3 percent market capitalisation weighting.
Swedish inflation risks muted - central bank
SWEDEN - The Sveriges Riksbank on Mar 27, 2001 left its key repo rate unchanged at 4.00 percent and cited subdued inflation pressures in a pointer that interest rates would remain on hold or fall in the next few months.
Kerstin Hessius to be Stockholm Bourse head
SWEDEN - OM Gruppen AB on Mar 26, 2001 named former Riksbank Deputy Governor Kerstin Hessius as the new president of the Stockholm stock exchange, officially known as Stockholmsboersen.
Libya names new bank governor, economy minister
LIBYA - Libya has split the finance and economy ministry and appointed a new central bank governor in a minor government reshuffle, officials said on Mar 26, 2001.
RBNZ's Brash to help Indonesia on central bank law
NEW ZEALAND/INDONESIA - Reserve Bank of New Zealand governor Donald Brash said on Mar 26, 2001 he was going to Indonesia on Apr 2 to help advise on a new central bank law.
ECB cannot stop stocks from falling-Buba's Welteke
EUROPE- The European Central Bank can do nothing to counter plunging stock prices, Bundesbank president Ernst Welteke said in an interview with the German radio station Deutschlandfunk.
China's cbank-no timetable to open capital market
CHINA - People's Bank of China Governor Dai Xianglong said China's capital markets will eventually be opened to the outside world but there is still no timetable for such a reform, state media reported Mar 26, 2001.
US economists quarrel with Fed rate stance-NABE
UNITED STATES - A survey of the Federal Reserve's policies over the past six months showed that a growing number of US economists fear the central bank has not cut interest rate cuts enough.
Zsigmond Jarai optimistic on inflation target
HUNGARY - Dec 2000 year-on-year inflation could be 6-7%, Hungary's central bank governor Zsigmond Jarai said at an event of the Joint Venture Alliance, according to the daily Vilaggazdasag.
New Zealand cbank against introducing MPC
NEW ZEALAND - The Reserve Bank of New Zealand said in report Mar 26, 2001 that it opposes a recent proposal to change the country's monetary policy decision-making model in favor of a committee of experts instead of the existing framework which vests…