European Central Bank (ECB)
Eichel sets out vision for financial regulation
GERMANY - The German finance ministry unveiled on Apr 11 draft legislation to shake up the structure of the country's central bank and supervisory agencies in response to the arrival of the euro and changes in financial markets.
US Fed decision are 'market driven'-Tietmeyer
UNITED STATES - The US Federal Reserve must take care not to allow its policy decisions to be market driven, former Bundesbank president Hans Tietmeyer told the Apr 12 edition of German financial magazine Focus Money, according to an early release of the…
Buba annual report-global risks to growth
GERMANY - In its annual report published on Apr 10, the Deutsche Bundesbank said that German and Eurozone growth would continue but that the downside risks had increased.
France backs Trichet, but Lemierre in wings-paper
FRANCE - Bank of France Governor Jean-Claude Trichet remains France's choice to succeed Wim Duisenberg as president of the ECB, but another Frenchman Jean Lemierre is an "option," French finance ministry sources told Les Echos.
ECB should avoid market surprises-Chris Huhne
ARTICLE - In a guest column in the Financial Times on Apr 10, euro MP Chris Huhne says that the European Central Bank needs a clearer reporting process for its decisions on monetary policy.
Central bankers want decision on next ECB chief-FT
EUROPE - The Financial Times newspaper reported on Apr 9 that pressure is growing for an early decision to be made on who succeeds Wim Duisenberg as president of the European Central Bank.
Euro-area banking at the crossroads-IMF paper
RESEARCH - This IMF working paper by the European I department looks at the institutional arrangements for euro-area banking supervision. The authors endorse stronger cross-border coordination among supervisory authorities but notes that more formal…
E-economy: will we still need banks in the future
SPEECH - Wim Duisenberg, president of the European Central Bank, gave a speech on April 4 about the developments in electronic finance and the implications for banks. He is optimistic of the benefits, such as a more efficient allocation of capital, but…
Optimal monetary policy in a currency area
ARTICLE - Pierpaolo Benigno has written an paper "Optimal monetary policy in a currency area" for the Centre for Economic and Policy Research. The author concludes that the European Central Bank should give a higher weight to inflation in the countries…
Spain's Caruana-eurozone inflationary risks remain
SPAIN - Bank of Spain Governor Jaime Caruana said Apr 4, 2001 that inflationary risks in the euro zone are easing but continue to exist.
Risk measurement and systemic risk conference
CENTRAL BANK CONFERENCE - On March 7-8, 2002, the Committee on the Global Financial System (CGFS), in co-operation with the Bank of Japan, the Board of Governors of the Federal Reserve System and the European Central Bank, will host, under the auspices…
ECB MoU on payment systems and supervision
CENTRAL BANK REPORT - The European Central Bank issued a Memorandum of Understanding (MoU) on Apr 2, 2001 describing the specific arrangements for co-operation and information sharing between EU payment system overseers and banking supervisors in…
IMF Koehler urges ECB to cut interest rates
EUROPE - International Monetary Fund Managing Director Horst Koehler called on the European Central Bank on Apr 2, 2001 to cut interest rates in order to help a slowing euro-zone economy.
New payment systems need cbank monitoring-ECB
SPEECH - New cross-border payments initiatives need to be closely monitored by central banks to ensure they are as safe and solid as dealing direct with central banks, a European Central Bank board member said on Apr 2, 2001.
Trichet casts doubt over ECB rate cut on Apr 11
EUROPE - Following a Franco-German meeting of finance ministers and central bankers, fresh doubt was cast on the prospects for an interest rate reduction when the ECB next meets on Apr 11, 2001.
Measurement of price indices-ECB seminar Nov 01
CENTRAL BANK SEMINAR - The ECB/CEPR are hosting a joint seminar on "Issues in the Measurement of Price Indices" in November/December 2001. It is being organised by MIT's Ernst Berndt, ECB head of research Vitor Gaspar and Dietmar Harhoff from Munich…
ECB keeps rates at 4.75%
EUROPE - The European Central Bank maintained interest rates at 4.75% at its Governing Council meeting on Mar 29, 2001, refusing to follow recent rates cuts of the Federal Reserve and Bank of Japan.
Ex-Bundesbank chief Poehl - time ripe for ECB cut
EUROPE - Former Bundesbank President Karl Otto Poehl thinks the European Central Bank should cut interest rates in the face of slowing economic growth, he told a Swiss newspaper in an interview published on Mar 28, 2001.
ECB working papers for March 2001
CENTRAL BANK RESEARCH - The European Central Bank has published four refereed working papers in March, subjects ranging from financial market integration in the Eurozone, deposit insurance and the effects on moral hazard, to modelling the term structure…
Duisenberg to give way to Trichet mid-02-Lemierre
EUROPE - The European Central Bank on Mar 27, 2001 declined to comment on remarks by a senior European banker suggesting ECB President Wim Duisenberg will step down in mid-2002 to make way for Bank of France head Jean-Claude Trichet.
Euro drop in 2000 was normal dip - Fed's Poole
EUROPE - The euro's weakness against the dollar last year was a "perfectly normal" dip of a sort which all currencies suffer from time to time, Federal Reserve Bank of St. Louis President William Poole said on Mar 27, 2001.
ECB cannot stop stocks from falling-Buba's Welteke
EUROPE- The European Central Bank can do nothing to counter plunging stock prices, Bundesbank president Ernst Welteke said in an interview with the German radio station Deutschlandfunk.
ECB seminar on monetary analysis published-Mar 16
CENTRAL BANK SEMINAR - On Nov 20-21 2000 the European Central Bank organised a seminar for staff from central banks entitled "Monetary analysis: Tools and applications". The aim of the seminar was to obtain an overview of the various approaches used to…
ECB rate cut should come as no surprise
A series of weak data releases, corresponding stock market declines across Europe and the United States as well as a cut in interest rates by the Federal Open Market Committee has fuelled speculation over the European Central Bank's forthcoming interest…