European Central Bank (ECB)
Noyer: New Rate Level In Line With Price Stability
FRANCE - European Central Bank Vice President Christian Noyer Thursday 6 Sep hailed the euro's strengthening trend over the past several weeks, while at the same time downplaying its fall back below $0.90 this week.
ECB board members defend interest rate cut
SPAIN - European central bankers on 31 August said the ECB's decision to cut interest rates was based on receding inflationary pressures and rejected criticism the bank had waited too long to stimulate the Continent's flagging economy.
ECB reform mustn't lead to large member dominance
HOLLAND - Enlargement of the European Union and the euro zone will require reform of the European Central Bank and its governing council, but this mustn't result in a dominant position for the larger euro-zone members, Dutch central bank president Nout…
CEPR - Monitoring the European Central Bank (MECB)
RESEARCH - New research from the Centre for Economic Policy Research. The authors of the latest MECB Update argue that the ECB should only cut interest rates when falling growth prospects will be accompanied by an unambiguous decline in inflation…
ECB cuts interest rates
EUROPE - The European Central Bank has cut interest rates by a quarter of a point to 4.25%.
ECB press release - Monetary policy decisions
At today's meeting the Governing Council of the ECB took the following monetary policy decisions:
Countdown to euro cash
EUROPE - The European Central Bank begins its campaign today, 30 August, to persuade the 300 million citizens of the eurozone to recognise - and love - their new currency.
Welteke - ECB focus is inflation, not growth
GERMANY - Ernst Welteke, member of the European Central Bank council, on 29 August said there were signs of a possible recovery of the euro zone's largest economy, but stressed the ECB's main task was to control inflation and not stimulate growth.
The Monetary Policy of the ECB
RESEARCH - The European Central Bank published 'The Monetary Policy of the European Central Bank' on 28 August.
Changeover to euro not to create hidden pressure
EUROPE - The changeover to the euro should not create hidden inflationary pressures or VAT increase, President of the European Parliament Economic and Monetary Affairs Committee, Christa Randzio-Plath, said, referring to European Central Bank (ECB)…
German wise man eyes lower GDP, ECB rates
GERMANY - Bert Ruerup, one of the German government's five economic advisers or "wise men", cut his forecast on 23 August for German growth in 2001 and said the way was clear for the European Central Bank to cut interest rates.
Juncker takes hard line on ECB reform
GERMANY - Luxembourg Prime Minister Jean-Claude Juncker was quoted on 22 August as saying a future reform of the European Central Bank's Governing Council should retain the principle of the equality of euro zone countries.
Federal Reserve Research
RESEARCH - International Finance Discussion Papers, An Empirical Comparison of Bundesbank and ECB Monetary Policy Rules by Jon Faust; John Rogers; and Jonathan H. Wright, August 2001.
German wise man says ECB need not follow Fed cut
GERMANY - Horst Siebert, a senior adviser to the German government, said on 21 August the European Central Bank did not need to follow the widely expected U.S. interest rate cut by trimming euro zone rates.
An anxious countdown to new euro cash
BELGIUM - BELGIUM - In two weeks, thousands of armoured trucks will fan out across Europe to start supplying banks with crisp bills and shiny coins denominated in euros, the single continental currency that will replace the German mark, the French franc…
Ex-Buba chief Poehl slams ECB communication policy
GERMANY - Former Bundesbank President Karl Otto Poehl was quoted on 14 August as saying the communication policy of the European Central Bank was clumsy and inflexible.
EU candidates must join ERM on way to euro-Noyer
GERMANY - European Central Bank Vice President Christian Noyer said on 13 August countries seeking to join the single European currency must first keep their currencies loosely aligned with the euro for two years.
French drop hope of replacing Duisenberg
GERMANY - France is apparently abandoning its hopes of replacing Dutch European Central Bank President Wim Duisenberg with a French president in 2002, when half of his eight-year term will be up, reports Der Spiegel.
ECB Monthly Bulletin August 2001
REPORT - The European Central Bank has published its Monthly Bulletin for August. In the report the bank voiced concerns about the risks to growth in the eurozone, indicating for the first time that its forecasts for the year might be too optimistic.
E-day countdown - ECB ad campaign to roll 1 Sept
GERMANY - European Central Bank chiefs begin their annual break this week knowing that when they return from their holidays the push to make the euro a reality in the lives of millions of Europeans must begin in earnest.
ECB press release - Interest rates unchanged
EUROPE - The European Central Bank has left all its key interest rates unchanged following its governing council meeting this morning.
ECB estimates new reserve target at 127 bn euros
GERMANY - The European Central Bank said on 27 June its estimated reserve requirement for the current maintenance period was 127.0 billion euros.
O'Neill believes ECB is not fully independent
US - U.S. Treasury Secretary Paul O'Neill said on 23 July that the European Central Bank is not totally independent from the views of the most influential member states of the euro zone.
ECB leaves interest rates unchanged
GERMANY - The European Central Bank (ECB) left eurozone interest rates unchanged, despite evidence of an economic slowdown.