News
Bank of Greece searches for Milosevic millions
GREECE - The Bank of Greece is investigating several Greek banks suspected of receiving funds laundered by Slobodan Milosevic, the former president of Yugoslavia.
Irish cbank sees 2001 growth slowing to 7%
IRELAND - Ireland's central bank said on Mar 28, 2001 it expected the booming Irish economy to experience a slowdown in 2001 GNP growth to around 7.0%, compared to growth of 9.75% in 2000.
RBA launches newly designed website
AUSTRALIA - The Reserve Bank of Australia has launched a major redesign of its website at www.rba.gov.au, increasing the quality and quantity of information, and the ease of access.
BoK criticises govt for interfering in mon policy
SOUTH KOREA - The Bank of Korea has criticized the government for its regular interference in the country's monetary polices.
Asian forum Manila Framework Group meets in China
CHINA - The Manila Framework Group regional financial forum started a two-day meeting in Beijing on Mar 28, 2001 to discuss a range of issues including the impact of the slowing U.S. economy, organisers said.
Former Philippine c. bank chief made consultant
PHILIPPINES - Former Philippine central bank governor Gabriel Singson has been appointed presidential consultant on banking and foreign loans, a presidential palace statement said on Mar 28, 2001.
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.