European Central Bank (ECB)
ECB's Issing-price risks more balanced, not gone
European Central Bank Chief Economist Otmar Issing reiterated on Feb 21 that while price risk in the euro zone were increasingly balanced some threats to price stability still lingered on.
Belgian central bank issues loans warning to banks
The National Bank of Belgium used its annual report on Feb 20, 2001 to fire a warning shot to commercial banks about lending to high tech firms. The central bank, which is pitching to take on a greater role in banking supervision in Belgium, said banks…
Welteke - upside price risk diminished,not faded
Upside risks to price stability in the euro zone have diminished but the all-clear can't be given yet, Deutsche Bundesbank President Ernst Welteke said on Feb 20.
ECB updates operational conditions for pay systems
On 20 February 2001, the Governing Council of the ECB updated the operational conditions for the use of eligible securities settlement systems (SSSs) in the settlement of collateral for Eurosystem credit operations.
'Tech Transformation, Retail Banking'-by J. Vesala
The doctoral dissertation of Jukka Vesala, titled "Technological Transformation and Retail Banking Competition: Implications and Measurement", has been published by the Bank of Finland. Mr Vesala is presently employed at the European Central Bank. The…
Trichet confident consumers will buoy French econ
In an interview on national radio, Bank of France governor Jean-Claude Trichet painted an upbeat picture of the French economy Feb 19, insisting strong domestic demand and robust consumer spending will help protect it from a slowing U.S.
ECB- Cross border use of collateral: users survey
The European Central Bank (ECB) on Feb 19 published a report presenting the results of a survey on the cross-border use of collateral.
Greek cbank warns of inflationary pressures-paper
Greece's central bank believes the government's target of average 2.3 percent inflation in 2001 may be beyond reach if inflationary pressures in the domestic economy are not reined in, Greek newspaper To Vima reported on Feb 18, 2001. Citing sources, To…
ECB'S Welteke assumes U.S. still wants strong dlr
European Central Bank council member Ernst Welteke said on Feb 17, 2001 that he could imagine the United States would remain interested in a strong dollar, according to a spokesman for the central banker. Welteke said a strong dollar policy would help…
Duisenberg can draw satisfaction from G7 meeting
For European Central Bank President Wim Duisenberg, Feb 17 meeting with the G7 godfathers of global finance in Palermo must have been a thoroughly satisfying experience. None of the finance ministers from the Group of Seven leading industrial countries…
Belgium eyes central bank gold profit for pensions
Belgium's government plans to use profits from the past transfer of gold from its central bank to the European Central Bank to start a state pension fund it had hoped to fill with proceeds from the sale of mobile telephone licences, Belgian media…
Interview: ECB's Otmar Issing
The chief economist and executive board member of the EuropeanCentral Bank gives an inside view on the ECB's thinking: Why hasthe ECB recently started publishing macroeconomic projectionsrather than forecasts, and what do these projections mean…
Bank of France raises growth forecast for Q1 2001
The Bank of France raised its forecast for first-quarter economic growth in 2001 after its latest survey of business sentiment pointed to a rosier outlook than the bank had anticipated previously. The central bank raised its forecast for first-quarter…
ECB Hamalainen-Eurozone needs structural changes
The euro zone still needs to make further strides in structural changes if it is to see a potential economic growth rate similar to that of the U.S., European Central Bank executive board member Sirkka Haemaelaeinen said on Feb 12, 2001. "Certainly, we…
Buba Stark-EU fin min council should censure Irish
Ireland should be censured by the full council of European Union finance ministers, for not adhering to its commitment to tighter fiscal policy, Deutsche Bundesbank Vice President Juergen Stark said on Feb. 9, according to German newspaper Boersen…
Greek cbank says no sales of euros to restructure
Greece's central bank said on Feb. 9, 2001 that it had not been selling euros as part of a restructuring of its foreign reserves but that some payment in foreign exchange had been made on behalf of the Greek government. "All these rumours that the Bank…
US plan to widen euro debt holding is logical-ECB
The European Central Bank said on Feb 9, 2001 plans by the U.S. monetary authorities to widen their holdings of government securities in the euro zone to include countries other than Germany were a logical step following the arrival of the euro. "This is…
Buba's Stark says ECB should meet less often
The European Central Bank should hold council meetings once a month rather than every two weeks, Bundesbank Vice President Juergen Stark said in remarks published on Feb 8, 2001. Stark, who is not a member of the ECB's council and has no say in ECB…
ECB slams banks over cross-border payment charges
The European Central Bank on Feb. 8, 2001 accused commercial banks of persistently overcharging retail customers for cross-border payments and said it may have to step in unless fees are cut substantially this year. The ECB said in its February report…
Communications plays key role in mon policy - ECB
Communication policy plays a vital part in supporting the European Central Bank's (ECB) monetary policy by helping the central bank achieve its price stability goal and in assuring public acceptance of policy decisions, the ECB said in its report for…
ECB's Trichet - European growth to continue strong
European Central Bank council member and Bank of France governor Jean-Claude Trichet said on Feb. 7, 2000 growth in Europe will continue "at a reasonable, strong pace." There were, however, downside risks to real gross domestic product growth, he told a…
Reserves plan bad for euro system - Austria c.bank
The Austrian National Bank warned on Feb. 6, 2001, that the finance minister's efforts to get the government's hands on central bank currency reserves could undermine the credibility of the euro system. "The Austrian National Bank believes that resorting…
Noyer -2001 GDP growth slightly less than forecast
Euro-zone growth will be "slightly less rapid" in 2001 than predicted a few months ago, European Central Bank Vice President Christian Noyer said Feb. 6. Noyer, speaking at the Robert Schuman University, said growth this year will be "close to 3%"…
Belgium finalises euro note, coin switchover plans
Belgium announced on Feb 6, 2001, its final plans for the switch to euro notes and coins in 2002, a mammoth logistical task which is set to mobilise all 12 euro zone countries in the second half of this year. Belgium's "Euro Commission" said banks and…