European Central Bank (ECB)
Some grim reading for bankers
A paper published by the European Central Bank has found the interdependence of lending decisions by national subsidiaries of global banks can lead to contagion.
Merkel defends ECB's independence
German Chancellor Angela Merkel implicitly criticised fellow head of government Nicolas Sarkozy of France when she said at an event to celebrate 50th anniversary of the Bundesbank that her government will block any attempts to exert political influence…
King refuses to aid markets
Mervyn King, the governor of the Bank of England, said on Wednesday that he believed providing additional liquidity against a wider range of collateral and over longer periods "sows the seeds of a future financial crisis".
ECB carries out three-month tender
The European Central Bank injected €75 billion into the money markets on Wednesday as part of a three-month refinancing operation.
Cyprus holds rates
The Central Bank of Cyprus decided to leave its benchmark rate at 4.5% on Monday.
ECB holds rates, offers injection
The European Central Bank (ECB) decided Thursday to keep its benchmark rate at 4%, after promising extra liquidity to the markets Wednesday.
OECD sings praises of central banks
Jean-Philippe Cotis, the chief economist of the OECD, had warm words for central banks Wednesday when he presented the organisation's interim assessment of the global economy in between the spring and autumn editions of the Economic Outlook.
ECB rate setting analysed
This paper, published by the Institute for Monetary and Financial Stability, uses the ordered-probit technique and variables noted in the European Central Bank's (ECB's) Monthly Bulletin to investigate how the central bank sets rates.
EU's Almunia expects rates to tighten
Speaking at a conference organised by Nueva Economia, Joaquin Almunia, the EU economic and monetary affairs commissioner, intimated that he expects Eurozone interest rates to tighten further. He also warned that financial market volatility might carry…
Trichet absent from Jackson Hole talks
Jean-Claude Trichet, the president of the European Central Bank (ECB), will not attend the Federal Reserve's Jackson Hole conference.
ECB tender reveals illiquidity
The results of the European Central Bank's latest tender indicate conditions in the market for inter-bank lending are still far from normal.
Trichet stresses importance of transparency
Jean-Claude Trichet, the president of the European Central Bank (ECB), said that ensuring that inflation expectations stay well-anchored was "of paramount importance".
US Senator hints at cut after high level meeting
Christopher Dodd, a US senator, said Ben Bernanke, the chairman of the Federal Reserve, would use "all the available tools" to ensure markets remained liquid.
Bank of England joins the fray with emergency loan
In what represents its first unusual market intervention during the current spell of market volatility, the Bank of England lent £314 million ($622 million) today to an unnamed financial institution through its standing facility.
Swiss chairman criticises US subprime
Jean-Pierre Roth, the chairman of the Swiss National Bank described the US subprime crisis as "unbelievable" and said that reality was "striking back"
ECB publishes "Blue Book"
The 2007 edition of the Blue Book, which describes the main payment and securities settlement systems in the EU, comes in two volumes: one on countries in the euro area, the other for non-euro area countries.
Trichet claims markets close to normal
Jean-Claude Trichet, the president of the European Central Bank (ECB), said that the current "period of market nervousness" is coming to an end.
Trichet answers back on inflation and jobs
Jean-Claude Trichet responded to criticisms that the euro hampers employment in an interview published 11 August.
Useful statement from Jean-Claude Trichet
CentralbankNews.com is pleased to see the ECB making constructive use of its website in the current crisis. On Tuesday August 14 its home page featured prominently a statement by Jean-Claude Trichet, the president, about the current financial market…
ECB injects a further €47.7 billion
After adding €155.9 billion ($212 billion) to money markets late last week, European Central Bank (ECB) lent heavily again on Monday.
Central banks' use of websites in the crisis
Central banks have been using their websites in novel ways during the crisis. On 13 August, the New York Fed put the following notice up:"The Desk will evaluate whether it needs to inject additional cash into the banking system at its normal operating…
Central banks continue to plug markets
On Friday, central banks around the world engaged in an orchestrated effort, initiated by the European Central Bank (ECB) and the Federal Reserve a day earlier, to keep money markets afloat amidst wide-spread fears of a global credit crunch.
ECB intervenes in money markets
The European Central Bank (ECB) injected tens of billions into the money markets on Thursday amid growing concerns over illiquidity.
ECB publishes monthly bulletin
The European Central Bank said it is monitoring prices closely to ensure that the eurozone escapes high inflation in the medium to long term in its latest monthly bulletin.