European Central Bank (ECB)
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg on key issues in payment systems
In a speech on 'Key issues for the ECB in the field of payment systems' Wim Duisneberg of the European Central Bank said the euro area would greatly benefit from an integration and consolidation of its securities clearing and settlement infrastructure…
Bundesbank dampens rate cut speculation
Bundesbank chief Ernst Welteke poured cold water on further ECB rate cut talk on Monday 16 June, according to AFP, suggesting it was now up to governments and politicians to get their economies in order.
Duisenberg testimony to European Parliament
In testimony before the Committee on Economic and Monetary Affairs of the European Parliament Wim Duisenberg of the European Central Bank said that despite the rise of the euro in the last year, the exchange rate of the European currency accurately…
ECB's Welteke says global growth conditions good
Ernst Welteke said on Friday 13 June thatmacroeconomic conditions are favourable to growth all over the world but enterprises must have confidence to sell their goods, according to a report by Reuters.
ECB criticised by eurozone national central banks
The European Central bank faces criticism for trying to push through proposals without sufficient consultation, according to a Handelsblatt report. The report said proposals presented to the ECB's 18-member governing council increasingly contain details…
ECB's Tumpel-Gugerell sees no deflation risk
The ECB's newest council member Gertrude Tumpel-Gugerell has said she sees neither symptoms of deflation nor the risk of deflation, reports Frankfurther Allgemeine Zeitung.
Duisenberg on structural reform and mon policy
In a speech on 'Structural reform and its implications for monetary policy' Wim Duisenberg of the European Central Bank said labour market reforms are urgently needed if euro zone economic growth is to recover strongly as some countries are hampered by…
UK 'should join euro' when economics are right
The UK chancellor Gordon Brown confirmed on Monday 9 June that only one of the five economic tests had been passed for Britain's entry to the euro. He also set out measures that would increase economic convergence between the UK and eurozone saying he…
Danish central bank cuts rates to 2.15%
The Danish central bank has again mirrored the ECB's half point rate cut yesterday by also cutting rates half a percent to 2.15%, according to a Bloomberg report. This is its lowest level in almost two centuries.
Euro rises as ECB cuts rates by 0.5%
Slowing inflation has prompted the ECB to at last cut rates by half a percentage point to 2%, after persistent pressure from the markets, Bloomberg reports. The immediate consequence was a rise in the euro.
Transformation of the European Financial System
Based on an ECB conference held in October, "Transformation of the European Financial System" examines how the switch to the euro has affected European financial markets.
Eurozone inflation drops to 1.9%
Inflation in the Eurozone fell below the ECB's 2 per cent target for only the second time last month according to Eurostat, the Associated Press reports.
Issing on efficiency in financial institutions
In a speech on 'Efficiency in financial institutions' Otmar Issing of the ECB said sound central banking, but also banking in general and the business of savings banks in particular, must be based on long-term objectives. In this context, the monetary…
Electronic Money System Security Objectives
Electronic money system security objectives according to the common criteria methodology, 23 May. The "Electronic Money System Security Objectives" (EMSSO) report, published on Friday, presents the expectations of the Eurosystem with regard to the…
ECB rates may be too low for Denmark
An OECD study warns that Denmark's policy of shadowing the ECB's interest rates could result in inappropriate rate levels thereby creating a risk the economy will overheat, according to Reuters.
Duisenberg - Financial market and monetary policy
In a speech on 'New economy, financial markets and monetary policy' Wim Duisenberg of the European Central Bank said with the benefit of hindsight, he can say that the ECB was right to have reacted relatively cautiously when the world discussed the "new…
Solans on importance of Eurostat for ECB policy
In a speech on 'The importance of Eurostat for the monetary policy of the European Central Bank' Eugenio Domingo Solans of the ECB said he would like to thank the European Statistical System very much for its support of the ECB's monetary policy. "I wish…
ECB predicts eurozone recovery
In its May bulletin published on Thursday 15 May, the ECB said "Looking ahead, a gradual strengthening of real GDP growth is expected to start later in 2003 and to gather more pace in the course of next year", according to the Financial Times
Is Europe already experiencing deflation?
An article in the Financial Times asks whether the threat of deflation is likely and suggests it may already be here and that, given the example of Japan, it may be that nothing can be done about it.
Hitting the target
Target2 presents an opportunity to rationalise and modernise the euro clearing and settlement process. The ECB needs to look beyond RTGS argues Mike Evans.
A spring-cleaning for the Eurosystem
As the Eurosystem prepares for the arrival of new members, it has first to attend to some housekeeping. A report by Nick Carver
The stability and growth pact: next steps
A flexible and cyclical assessment of euro countries’ finances will mean earlier warnings from Brussels. Has the pact bounced back? William M. Clarke reports.