European Central Bank (ECB)
ECB’s collateral move adds pressure to Greek negotiations
Decision to cease accepting some Greek debt as collateral two weeks earlier than necessary turns banks toward ELA and adds pressure to political negotiations
Constâncio: ECB ‘encouraged’ by reaction to QE
ECB vice-president points to rise in price of equities and bonds and drop in the exchange rate, but warns against reading too much into financial and real variables
ECB’s Cœuré calls for tougher rules on structural policy
Executive board member says a ‘strong framework’ is needed to manage the interdependence of fiscal, financial, structural and monetary policies in Europe
ECB warns banks over dividends and bonuses
Danièle Nouy tells banks to take a ‘conservative’ approach to paying out dividends, while ECB announces probe into variable remuneration
Linde says ECB’s stimulus package is ‘ambitious’
Luis Linde, governor of the Bank of Spain, estimates the European Central Bank will buy €100 billion of Spanish government debt under its new asset purchase programme
Leading central bankers unsure about impact of technology on monetary policy
Carney, Kuroda and Coeure debate the elusive Phillips curve in Davos; rejecting ‘technological pessimism', Carney says ‘just catching up is a huge opportunity of growth potential'
Mersch lays out path to capital markets union
ECB executive board member says harmonised regulation and ‘institutional adjustments’ needed in Europe; suggests change in securities markets
Carney says eurozone QE 'absolutely necessary'
Bank of England governor says it will ‘create some of the necessary conditions’ for returning prosperity to the eurozone; discusses distributional consequences of monetary policy
ECB launches quantitative easing
Mario Draghi unveils additional asset purchase programme that will see the ECB buy sovereign and agency debt; a ‘large majority’ of governing council backed decision
Danish central bank cuts rates for second time this week
National Bank of Denmark lowers deposit rate for second time in four days following ECB action; central bank will defend euro peg ‘vehemently', says analyst
Lagarde: Divergent monetary policy could be a good thing
It could be 'helpful' for the global economy if the ECB eases more as the Fed starts tightening, Lagarde tells an audience in Davos; Summers warns eurozone QE not 'sufficient'
Great expectations: ECB set for QE showdown
Markets expect the ECB to announce a programme for buying €500 billion of sovereign bonds tomorrow, but the central bank retains the capacity to surprise
Eurozone banks report further easing in credit standards
The net percentage of banks reporting easier credit standards continues to grow; ECB survey finds banks’ participation in TLTROs is mostly driven by profitability
National Bank of Denmark heads deeper into negative territory
Unscheduled cut pushes deposit rate further below zero and leaves lending rate barely in the positive as krone comes under pressure ahead of expected ECB action
ESRB on the hunt for experts to join macro-prudential advisory committee
Applicants for a seat on Advisory Scientific Committee must be academics or industry practitioners and cannot be employees of a member institution
Legal opinion opens door for ECB bond-buying programme
Adviser to ECJ deems OMTs ‘compatible’ with European law in a move described as an ‘overwhelming success’ for ECB; could nonetheless restrict central bank's role in Troika
Carney: ECB has ‘tools and clarity of mandate' to hit inflation target
BoE governor says there is ‘every reason' to expect the ECB to take the ‘measures necessary' to tackle low inflation as he weighs in on several international issues in parliamentary hearing
National Bank of Slovakia governor handed second term
Jozef Makúch is the first governor to be reappointed at the Slovakian central bank; tells Central Banking he is ‘very much looking forward’ to new challenges
Draghi and Rajan strike deal on cooperation
MoU signed on the sidelines in Basel will see ECB and RBI exchange information and cooperate on technical matters, banks announce
Eurozone inflation goes negative with QE looming
Annual HICP inflation falls to -0.2% in December due largely to plummeting oil prices; expectations rising for ECB to expand asset purchases on January 22
Impact of ECB unconventional policies depends on bank capitalisation, finds Belgian paper
ECB crisis measures have greater impact on GDP growth in countries where banks are well capitalised, researchers find
2014: The year in review
The past year has seen central banks across the globe grapple with reform, at an institutional and global level – we look back at the biggest stories of 2014
Banque de France paper says asset purchases may struggle to anchor rates
Working paper suggests asset purchases could be a way to anchor interbank rates, but the policy faces a number of difficulties; absorbing excess liquidity another option
ECB to publish unattributed ‘accounts’ of policy discussions
European Central Bank will publish ‘accounts’ four weeks after every meeting; they are designed to improve the general public’s understanding of the governing council’s thought process