Europe
Outlook clouded but inflation to ease: ECB
Even though the war in Iraq has increased uncertainty somewhat the European Central Bank said on Thursday in its monthly bulletin that it expected inflation to drop back below its 2 percent target this year, according to Reuters.
ECB should tolerate higher inflation - IMF report
The IMF's semi-annual World Economic Outlook report released on Wednesday 9 April urged the ECB to loosen its inflation target slightly to help stave off the threat of deflation for weaker eurozone economies such as Germany, according to Reuters.
Court to rule on euro symbol ownership
A court was due to rule on Thursday April 10 whether the ECB owns the "€" symbol representing the euro, reports Business & Finance. British company Travelex claimed the use of the logo was a blatant rip off of its own logo, which it has used since 1989.
Brussels forecasts Italy will break deficit rules
According to a report in the Financial times, the European Commission says Italy is likely to break the stability and growth pact's deficit limit of 3 per cent of GDP in 2004.
EC report casts doubt on eurozone benefits
The European Commission's spring forecast published on Tuesday 8 April said growth rates in euro member countries was lower than for EU members outside the single currency, the Financial Times reported.
ECB chief to stay on while successor found
The weekend meeting of Ecofin in Athens agreed a deal whereby ECB president Wim Duisenberg will stay on until a successor can be named, according to a Reuters report. "I will be president of the European Central Bank up until the day that my duly…
Architects compete to design new ECB premises
The ECB has selected 80 architects to submit a design for the bank's new premises. The design must meet "the requirements of a modern central bank in the 21st century serving an enlarged euro area".
ECB Rome meeting: questions and answers
In the exceptional circumstances of the war Wim Duisenberg said it is not possible at this time to assess what effect conflict will have on the global economy. "The outlook for the basic elements of price stability remain in place and accordingly we…
ECB chief Duisenberg blasts 'high US deficits'
Speaking at a news conference after the ECB policy meeting on Thursday 3 April that left rates on hold, Reuters reports that Wim Duisenberg said "We now see - and that is a cause of concern - both the current account and the federal government deficit…
ECB meeting on monetary policy decisions
At Thursday 3 April's meeting, which was held in Rome, the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain…
France backs Duisenberg to extend ECB term
The meeting of finance ministers and central bankers in Athens on Friday is likely to support moves to extend Wim Duisenberg's tenure as president of the European Central Bank, according to a report in the Financial Times. He may stay for up to six…
Riksbank's Heikensten in favour of ECB vote deal
Swedish central bank chief Lars Heikensten has come out in favour of the agreement to reform the European Central Bank's Governing Council, but he also wants more transparency from the institutions.
Issing on monetary and financial stability
In a speech on 'Monetary and financial stability: Is there a trade-off?' Otmar Issing of the European Central Bank said the question whether there is a trade-off between monetary and financial stability has been one of the most interesting areas of…
ECB's Constancio: Little room to move on rates
Bank of Portugal chief Vitor Constancio said the war in Iraq poses the threat of global recession and that little room for manoeuvre exists in the way of interest rate easing at the moment.
ECB: no requests for Duisenberg to stay
Contrary to some reports the ECB has said it has no knowledge of any official request to Wim Duisenberg for him to stay on as president, according to Reuters.
Extra six months proposed for Duisenberg at ECB
A report by Belga News quoting official sources says Greece, as the current holders of the EU presidency, will propose that ECB president Wim Duisenberg stays on for another six months in office.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In an exclusive interview with CentralBankNet.com, Professor Fatih Ozatay, the vice-governor of the Central Bank of the Republic of Turkey, explains how the war in Iraq is affecting the central bank, and what it is doing to mitigate…
ECB April rate move unlikely - Welteke
A rate cut is not on the cards, at the moment at least, said Bundesbank chief Ernst Welteke on Wednesday. With the economic impact of the war still far from certain he said it made no sense to take any sort of action, according to a Reuters report.
ECB on reproduction and exchange of euro notes
New rules on the reproduction and exchange of euro banknotes have been issued by the ECB on 25 March 2003.
ECB's Issing on eurozone growth
In testimony to the European Parliament Otmar Issing of the ECB said eurozone economic growth is expected to be only moderate this year, and inflation is forecast to fall below 2%, although developments continue to be overshadowed by the war in Iraq. He…
Duisenberg may be asked to stay on at ECB
Wim Duisenberg may be asked to stay on as president of the European Central Bank for a further year to prevent France losing face if a French candidate is not available to take up the job, according to a report by Expatica News.
ECB's Issing sees continued euro volatility
Otmar Issing of the ECB said on Tuesday March 25 that continued uncertainty would have an impact on the euro exchange rate, according to an Online report. He also said the euro is a candidate for a strong international role. But that we should not forget…
ECB's Issing downbeat on 'sluggish' euro growth
Speaking to the EU Parliament, the ECB 's chief economist, Otmar Issing observed that economic growth in the eurozone is expected to be 2% for the year, thoough this will put downward pressure on inflation, according to Reuters
Duisenberg to stay on at ECB?
Luxembourg's prime minister Jean-Claude Juncker said on his way to the EU Brussels summit starting on Friday night, March 21,that Wim Duisenberg could stay on, in his view, while uncertainty over his successor remains. Online reported him as saying that…