Euro
Draghi places emphasis on governments to drive EU growth
ECB president says national policy-makers must take measures to develop the competitiveness of their economies; downside risks prevalent for euro economy
Draghi explains why more LTRO draw-down information is not released
ECB president says it is not possible to release details of LTRO draw downs by individual banks and country usage figures as it could be misleading
Bank of Slovenia forecasts economic contraction in 2012
Bank of Slovenia forecasts 1.2% contraction in 2012: revised budget in April expected to contain further fiscal tightening
Eurogroup boosts emergency funding facility
European finance ministers agree to combine two emergency financing vehicles currently running simultaneously in the eurozone; also add €500 billion to lending capacity
BoE’s Posen says credit failures are hampering UK recovery
UK MPC member Adam Posen highlights lack of non-bank credit options as being among reasons for the slower pace of recovery in the UK relative to the US
RBA warns banks against chasing ‘unrealistic profit’
Reserve Bank of Australia’s latest Financial Stability Review cautions banks not to increase risk-taking by chasing ‘unrealistic profit expectations'
OECD’s Gurría wants ‘mother of all’ firewalls in Europe
OECD secretary-general demands expansion of emergency funds available to struggling eurozone sovereigns; wants monetary conditions to remain ‘supportive’
Euro banknotes with Draghi’s signature enter circulation
Mario Draghi's signature appears on circulating euro banknotes as the ECB president expresses faith that situation in Europe is stabilising
‘Numerous episodes’ of heightened anxiety ahead for Europe, says RBA’s Stevens
Reseve Bank of Australia governor, Glenn Stevens, says ‘old world’ problems have “riveted” global attention but ECB action prevented another funding crisis
Euro has benefited smaller states, says Polish central bank chief
National Bank of Poland president Marek Belka tells conference that the euro has had a substantial positive impact for smaller European countries
SNB commits to controversial exchange rate policy
Swiss national bank pledges to protect minimum exchange rate against the euro; says currency value is 'still high'
Juncker confirms release of latest funds for Greece
Eurogroup approves second adjustment programme in Greece; first instalment of €39.4 billion of emergency funding to be released
SNB issues own-account rules; Danthine trades attacked
Swiss National Bank issues new rules on private financial transactions conducted by top management; Jean-Pierre Danthine attacked for forex trades done in May 2010
IMF paper looks at exchange rate volatility and currency pegs
Recent IMF research paper investigates the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes
SNB spent $19.6 billion maintaining minimum exchange rate
SNB purchased foreign currency to a value of $19.6 billion in 2011; central bank also reveals larger than expected profit
Draghi defends high-value euro banknotes
Letter to MEP Nikolaos Salavrakos outlines reasons for having €200 and €500 banknotes
European Central Bank lends $712 billion to banks
ECB doles out €529.5 billion in low interest loans; analysts raise concerns about how effective the second round of the LTRO will be and the market reaction
Central bank's credibility was vital to introducing minimum rate, says SNB’s Schlegel
The decision by the Swiss central bank to introduce a minimum rate to the euro last September was possible because of the SNB’s credibility, says the central bank’s head of foreign exchange and gold
Mixed market response as Greece deal is proposed
Regional stock indexes show different impact as eurozone agrees on more bail-out funds for Greece; price of gold edged higher as euro rose after news broke
Sepa end-date set in stone following final vote
European Parliament passes legislation imposing a February 1, 2014 deadline for migration to Single Euro Payments Area after regulation receives overwhelming support of MEPs in Brussels
Central banks find novel uses for old banknotes
Central Bank of Ireland makes old notes into artwork; National Bank of Hungary offers the decommissioned banknotes to charities to burn for heating purposes
SNB’s Jordan pledges to maintain Swiss franc’s currency floor
Swiss National Bank acting chairman, Thomas Jordan, preserves commitment of Sfr1.20 floor to euro; analysts expect the central bank to defend but not raise floor
Lithuanian central bank completes euro credit migration to Sepa
Bank of Lithuania says government institutions holding accounts with central bank will now be able to initiate and receive payments in euros through Sepa credit payments scheme
Estonian central bank finds public retaining kroons as memento
Bank of Estonia study finds 81% of respondents are holding on to some kroon cash; not using it for savings shows confidence in the euro, says head of cash and security department