Europe
ECB expected to rest with rates on hold
The European Central bank is expected to hold interest rates steady when it meets on Thursday 31 July, according to AFP, but analysts said on Tuesday 29 July it will probably cut in September when it returns, to stimulate the euro zone economy further.
Euro-zone central banks and their euro windfalls
The Financial Times was quick to pick up on CentralBankNet's Monday special report on euro zone central bank's windfall profits from legacy currencies still in circulation and presumed lost down the back of Europe's sofas.
ECB and acceding country central banks agreement
Template Agreement between the European Central Bank and The Acceding Country National Central Bank enhancing the cooperation between the ECB and the ACNCBs in the areas of prevention and detection of counterfeiting of euro banknotes, 28 July.
EU needs a more 'intelligent' pact - Pascal Lamy
Speaking during a visit to China EU Trade Commissioner Pascal Lamy said the EU's Stability and Growth Pact needs to be "modernised and whipped into shape" and needs to be a more "intelligent" pact, according to EU Observer.
ECB's Issing - No risk of inflation or deflation
Neither deflation nor inflation present risks for the eurozone economy at the moment. That was the assessment of Otmar Issing on Wednesday 23 July, according to Reuters, but if deflationary concerns emerge the ECB is ready to take various preventive…
Padoa-Schioppa at ECB Payments System conference
In the opening speech at the Committee of Payment and Settlement Systems Conference, Tommaso Padoa-Schioppa of the ECB said central banks need to co-operate with the private sector and particularly with the banks that are in business for profit, for the…
Snow lauds Trichet as superb choice for ECB chief
US Treasury Secretary John Snow met with Bank of France president, and ECB chief in waiting, Jean-Claude Trichet on Friday, according to a report by Agence France Presse. While not commenting on ECB monetary policy, Snow told a news conference that…
Commission divided on relaxing pact rules: Solbes
Pedro Solbes said on Friday 18 July that fiscal deficit limits should remain a "key element" of the stability and growth pact but conceded there were different opinions with the European Commission, Reuters reports.
ECOFIN to discuss Italian growth plan and Trichet
EU finance ministers will hold their first Council session under the Italian Presidency on 15 July, EurActiv reports. During the Euro group meeting on Monday, the ministers will launch proceedings to appoint Bank of France Governor Jean-Claude Trichet to…
'Absurd criteria for new EU members'
An article in the Financial Times says that, fortunately, such a disastrous scenario as a deflationary spiral in the eurozone is unlikely. But that is not true of the problems that low or negative inflation within the eurozone could pose for the…
Dogfighting over the ECB
The European League for Economic Cooperation (ELEC) has issued aresolution betraying unease that appointments to the ECBexecutive board could degenerate into a more or less continuous politicaldogfight.
Duisenberg presents the ECB's Annual Report 2002
Presenting the ECB's Annual Report 2002 to the European Parliament Wim Duisenberg of the ECB said emphasised the need for Member States to respect the Stability and Growth Pact and said the ECB believes that the tools chosen by the ECB to communicate and…
Tumpel-Gugerell on financial markets volatility
In a speech on 'The volatility of financial markets' Gertrude Tumpel-Gugerell of the ECB said the increasing importance of technology and quantitative methods in the financial markets present new challenges. There are probably no solutions which involve…
Duisenberg silences ECB rate cut talk
Wim Duisenberg put the onus on national governments to stimulate growth on Thursday 3 July, according to Reuters, telling the European parliament that governments can no longer hide behind the ECB to cover up their failure to enact urgently required…
New risk control framework for eligible assets
In the context of the regular assessment of the risk control framework applicable to eligible assets used in Eurosystem credit operations, the Governing Council of the ECB has approved changes to the risk control framework, 2 July.
ECB meeting and press conference schedule for 2004
The Governing Council of the ECB has agreed that in the year 2004 its meetings will continue to be held, as a rule, on a Thursday in the first and third week of each month. As in 2003, the meeting schedule of the Governing Council also accommodates…
ECB's Issing upbeat on eurozone recovery
The ECB has "cautious optimism" that the eurozone economy would improve soon with the recovery in equity markets, BizWorld reports chief economist Otmar Issing as saying.
Accession country central banks observe ECB meet
The ECB's General Council meeting of 26 June was attended for the first time by central bank presidents of the ten EU accession countries. The ECB decided last September to invite presidents and experts of the accession countries' central banks to attend…
ECB won't follow Fed on rates - Duisenberg
Speaking on German TV, Wim Duisenberg said euro zone interest rates were currently appropriate, Reuters reports, and that the ECB would not follow the lead of the US Federal Reserve by cutting interest rates soon.
ECBs Solans says uncertainties cloud rates outlook
In an interview with the Financial Times, Eugenio Domingo Solans of the ECB said the current level of interest rates in the eurozone was favourable for a recovery. But the situation would be reassessed at the next meeting as the outlook was still clouded…
EU to keep Duisenberg at ECB until October
Wim Duisenberg will remain in his post until October, the Greek Prime Minister Costas Simitis has said according to Bloomberg News. Trichet got the backing on Thursday 19 June of leaders of Germany, Italy, Luxembourg and Portugal, as well as Greece's…
ECB public consultation announced
The European Central Bank has announced a public consultation aimed at improving the collateral framework of the eurosystem, 11 June.
Duisenberg on the first lustrum of the ECB
In a speech on 'The first lustrum of the ECB' Wim Duisenberg of the European Central Bank said the Convention on the Future of Europe has not taken over our suggestion to incorporate somewhere in the text the notion of Eurosystem, which stands for the…
ECB Succession: Randzio-Plath welcomes judgement
Statement by the Chair of the European Parliament's Committee of Economic and Monetary Affairs Christa Randzio-Plath on the judgement in the Credit Lyonnais case, 18 June.