Europe
ECB raises rates, but says no series planned
The European Central Bank raised its main interest rate, for the first time in five years, by 0.25% to 2.25% on Thursday 1 December in a move that had been widely expected.
Document shows plan to shake up EU payments system
The European Union's payments system is set for a wide-ranging overhaul to cut down on the cost of cross-border transactions and save up to 100 billion euros ($117.7 billion), a European Commission document quoted by Reuters showed on Thursday 1 December.
EU's Almunia sees gradual rise in euro area demand
European Monetary Affairs Commissioner Joaquin Almunia said on Thursday 24 November he expects a gradual rise in domestic demand to boost recovery in the European Union economy next year.
ECB's Caruana expects moderate rate rise
European Central Bank Governing Council Member Jaime Caruana echoed comments from some other ECB officials on Thursday 24 November when he said he expects a "moderate" rise in eurozone interest rates.
Gonzalez Paramo calms mood after Trichet comments
European Central Bank board member Jose Manuel Gonzalez Paramo has sought to play down Jean-Claude Trichet's recent comments that an increase in Eurozone interest rates could come at its next meeting on 1 December.
Belgium's Quaden cautious on rates
Belgian National Bank governor Guy Quaden said that the economic situation in the eurozone is different from that of the US which has seen a lengthy series of interest rate increases.
Britain probably better off in euro says Trichet
Speaking at a conference in Berlin on Saturday 19 November, European Central Bank President Jean-Claude Trichet said Britain would probably be even better off if it joined the euro.
Comment: ECB signals its move
ECB president Jean-Claude Trichet on Friday 18 November dropped his strongest hint yet that interest rates will be increased at the governing council meeting on December 1.
Rato promotes central bank communication
IMF Managing Director Rodrigo Rato told a European Banking Congress in Frankfurt on Friday 18 November that central banks should communicate their monetary policy plans clearly to avoid disruptive shocks to financial markets.
ECB's Issing on addressing global imbalances
In the speech 'Addressing global imbalances: the role of macroeconomic policy' given on 4 November Otmar Issing of the ECB said structural reforms in Europe and Japan may help to promote growth and resilience and are in the countries' own best domestic…
EC endorses amended IAS 39
The European Commission (EC) has endorsed the amended version of the International Accounting Standard 39 (IAS 39).
ECB's Target 2 delayed
The ECB has announced that the launch of Target 2 has been further delayed. The first group of countries will move to the EU's new large-value payment system on 19 November 2007, 11 months later than originally planned.
ECB Monthly Bulletin for November
The ECB's Monthly Bulletin for November was released yesterday, 9 November. In addition to its regular discussion of economic development in the eurozone, the report contains articles on price-setting behaviour, developments in corporate finance and…
Comment: Activism the ECB way
Yesterday, 9 November, Jean-Claude Trichet explained how the ECB's decision to leave interest rates unchanged for more than two years should not be equated to non-activist monetary policy.
EC report on lack of financial sector integration
The European Commission has presented a preliminary analysis of why there has been little cross-border consolidation in the EU financial sector.
Markets well prepared for rate hike says Stark
Bundesbank Vice-President Juergen Stark said in an interview on Friday 4 November financial markets are well prepared to digest an interest rate hike by the European Central Bank.
Trichet says ECB ready to raise rates when needed
European Central Bank president Jean-Claude Trichet said Thursday 3 November that the ECB stands ready to raise interest rates whenever this becomes necessary.
Wellink sees increased inflation concern for ECB
European Central Bank council member Nout Wellink said in an interview that the bank is ``increasingly concerned about inflation,'' echoing comments by other ECB officials.
Liikanen says ECB on alert over inflation risk
European Central Bank Governing Council member Erkki Liikanen said on Thursday 27 October that rising energy costs create significant risks to long-term inflationary expectations in the euro zone.
Will ECB match hawkish rhetoric with rate hike?
This article published on Friday 21 October reports that the ECB's more hawkish tone has got futures markets speculating that eurozone interest rates could be about to change.
Interview with ECB's Trichet
ECB President Jean-Claude Trichet said in an interview with Russian newspaper Izvestia this week that the ECB was committed to maintaining steady prices. "As regards our present position, I said in Athens on 6 October that the present interest rate of 2…
Comment: Slipping behind on the euro
When ten new countries joined the EU in May last year, they did so promising that one day they would adopt the euro as their currency. At the time it seemed they hardly needed any coercing - joining the euro was something policymakers in these countries…
EU banking sector stability report
The European Central Bank published a report on EU banking sector stability, prepared by the Banking Supervision Committee of the European System of Central Banks on 17 October.
ECB to act decisively if needed says Trichet
European Central Bank president Jean-Claude Trichet said in a letter to a member of the European Parliament that the ECB would 'act decisively' if the rise in oil prices pushed domestic prices higher.