Europe
Europe faces economic slowdown
The International Monetary Fund (IMF) has warned that Europe will find it difficult to avoid a sharp economic slowdown, as it is hit by the tech sector collapse, weak consumer demand and the aftermath of the terrorist attacks in the USA.
ECB puts yen under pressure
EUROPE - The European Central Bank (ECB) has intervened in the foreign exchange markets, buying euros and selling yen, in an attempt to weaken the Japanese currency.
ECB Monthly Bulletin - September 2001
REPORT - The European Central Bank published its regular Monthly Bulletin on 20 September.
Europe's bank confident of quick recovery
EUROPE - The European Central Bank expressed confidence yesterday that the eurozone would recover quickly from an economic slowdown made worse by last week's terrorist attacks in the US.
Safe-haven currencies and bonds gain, stocks slide
EUROPE - Safe-haven currencies and government bonds gained today, Friday 21 September, as jittery investors pulled out of volatile equities, spooked by last week's terrorist attacks in the US.
Dlr swap seen as more than a confidence measure
UK - In another move to ensure market liquidity, central banks Thursday 13 September established swap facilities to alleviate the tight dollar market in Europe - a move welcomed by the financial industry.
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)…
BIS Working Paper on euro and financial markets
RESEARCH - The Bank for International Settlements (BIS) has published a working paper on the impact of the euro on Europe's financial markets. The paper is written by Gabriele Galati and Kostas Tsatsaronis, July 2001.
Soros avoids the euro
EUROPE - In an interview with the German Sunday newspaper, Welt Am Sontag, George Soros says that betting on the euro is a mug's game.
Bank must cut rates to avoid slump
UK - Britain faced warnings to cut interest rates to head off the risk of economic slowdown.
Parliament worries over euro note chaos
Fears are growing that the introduction of euro notes and coins on 1 January 2001 will create logistical nightmares for eurozone authorities.
Euro rates held steady
EUROPE - The European Central Bank has decided to leave interest rates unchanged after a scheduled board meeting in Frankfurt on Apr 26.
Calls grow for ECB to cut rates
EUROPE - A United Nations body yesterday, Apr 24, called for the ECB to follow the lead of the US and cut interest rates if it wants to avoid a slide into recession.
Managing public expenditure-transition economies
BOOK - The OECD has published a book "Managing Public Expenditure: A Reference Book for Transition Countries". It presents a comprehensive and in-depth analysis of all aspects of public expenditure management from the preparation of the budget to the…
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…
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…
Fast-tracking EU securities market reform-Bishop
LAMFALUSSY REPORT - At the Mar 23/24 Summit, EU leaders succeeded in offering the European Parliament a compromise that should be acceptable, clearing the way to rapid action on the Lamfalussy Report on securities markets regulation, reports Graham…