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Central bankers from the Group of 10 nations feel that the global economic recovery is ``strengthening''. Central bank heads concluded their meetings with ``the working assumption that the big current account imbalances will progressively diminish.''

With interest rates at zero in Japan, 1 percent in the U.S. and 2 percent in Europe, central bank governors have limited scope to go for further reductions. Growth in some parts of Asia represent a ``powerful engine'' for the global economy.

The bank governors meet every two months under the auspices of the Bank for International Settlements, which serves the world's central banks. The G-10 comprises 11 nations and includes the U.S., Japan, Germany, the U.K., Italy, France, Canada, Sweden, Belgium, the Netherlands and Switzerland.

.... Click for Bank Directory

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