Europe
ECB statements boost rate cut chances
Euro-zone central bankers gave what looked like strong hints on Friday 23 May for an ECB interest rate reduction in June, according to Reuters. The surging value of the euro which went through its launch level on Friday and data showing inflation…
ECB eye Hitachi micro chip to prevent note forgery
A report noted by Kyodo Newsby says the European Central Bank is looking into the idea of using integrated circuit chips in bank notes to prevent forgery.
Duisenberg - Financial market and monetary policy
In a speech on 'New economy, financial markets and monetary policy' Wim Duisenberg of the European Central Bank said with the benefit of hindsight, he can say that the ECB was right to have reacted relatively cautiously when the world discussed the "new…
EU's pact is a false promise of stability-Stiglitz
In an article in Business day (South Africa), Joseph Stiglitz says the lesson for Europe is clear: the EU should redefine its stability pact in terms of the structural or full employment deficit to what the fiscal deficit would be if the economy were…
Solans on importance of Eurostat for ECB policy
In a speech on 'The importance of Eurostat for the monetary policy of the European Central Bank' Eugenio Domingo Solans of the ECB said he would like to thank the European Statistical System very much for its support of the ECB's monetary policy. "I wish…
Advisor to UK chancellor says scrap Stability Pact
In a paper published on Monday 19 May in the Oxford Review of Economic Policy abd reported in The Times, Michael Artis, an economics professor who provided technical input for some of the 18 euro studies sent to the UK Cabinet this weekend, and…
ECB Monthly Bulletin: erozone inflation limited
The European Central Bank published its May 2003 Monthly Bulletin on 15 May. In the report the ECB said that eurozone inflation risks were limited and that the economy would pick up later this year and accelerate in 2004.
ECB predicts eurozone recovery
In its May bulletin published on Thursday 15 May, the ECB said "Looking ahead, a gradual strengthening of real GDP growth is expected to start later in 2003 and to gather more pace in the course of next year", according to the Financial Times
Germany sparks row over bank watchdog
Bundesbank president Ernst Welteke is reported by the Independent newspaper to have said on Tuesday 13 May that Germany rather than London should house the new supervisory regulator for banking in Frankfurt because of the proximity to the ECB and because…
'The central bank that has missed the point'
The ECB's new monetary policy strategy has not impressed Professor Paul De Grauwe. In an article in the Financial Times he calls the moves an anticlimax with the ECB creating confusion instead of clarity. He suggests the eurozone central bank come up…
Annual Report of the ECB's Anti-Fraud Committee
The Annual report on the activities of the Anti-Fraud Committee of the European Central Bank has been published, covering the period from March 2002 to January 2003.
IMF Working Paper - The ECB's Money Pillar
In the IMF Working Paper 'The ECB's Money Pillar: An Assessment' Albert Jaeger discusses the case for a money pillar in the European Central Bank's (ECB) monetary policy strategy. The Paper says effective communication of the ECB's monetary policy…
IMF Working Paper - The ECB's Inflation Objective
IMF Working Paper 'The ECB's Inflation Objective' by Mads Kieler. The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric, and excessively stringent. This paper attempts a comprehensive…
ECB opinion on appointment to the Executive Board
ECB Opinion on the appointment of a member of the Executive Board of the ECB, 30 April 2003.
EC transfers payments system observatory to ECB
The electronic Payment Systems Observatory has been successfully transferred from the European Commission to the European Central Bank, 30 April 2003.
Papademos presents the ECB's Annual Report
In his presentation of the ECB's Annual Report 2002 to the Committee on Economic and Monetary Affairs of the European Parliament Lucas Papademos said one of the main messages of 2002 has been that the euro area economy needs to become more flexible and…
European Central Bank - Annual Report 2002
The European Central Bank has published its Annual Report for the year ended 2002. The report suggested Greece, France and Italy are not expected to reduce their deficits sufficiently by the end of this year, providing a warning to those countries to…
Hamalainen on challenges for retail banking
In a speech on 'EU accession - challenges for retail banking' Sirkka Hamalainen of the ECB said the ECB has assessed the payments infrastructure in the acceding countries and found it sufficiently robust to ensure that it will not generate systemic risks…
First five years of the ECB
Commenting on the fifth annual report of the ECB presented to the Committee on Economic and Monetary Affairs by ECB vice-president Lucas Papademos, Committee Chair Christa RANDZIO-PLATH (PES/Germany) said that the ECB and European Monetary Policy both…
Tumpel-Gugerell new ECB Board Member
Committee on Economic and Monetary Affairs gives ll clear for Gertrude Tumpel-Gugerell as new ECB Board Member, 29 April.
Support for Tumpel-Gugerell
Unanimous Support for new ECB Executive Board Member, 29 April.
Duisenberg heir need not be French, lawmaker says
Christa Randzio-Plath, chairwoman of the European Parliament's monetary committee, has said that Wim Duisenberg's successor at the ECB does not have to be French, commenting "We have not only to look at nationality", according to Bloomberg News.
ECB warns SARS more damaging than war
In an interview with Spanish newspaper Il Sole 24 Ore, Tommaso Padoa-Schioppa, an executive member of the ECB, said the negative impact of the Iraq war could be outweighed by the effect of the SARS virus.
ECB's Duisenberg implies he will leave in a year
The European Central Bank published its annual report for 2002 on Tuesday with Wim Duisenberg hinting that he would not be at the ECB this time next year. "This will be the last foreword of an ECB Annual Report to bear my signature," he said in the…