Euro
Polish central bank chief seeks euro entry in 2007
National Bank of Poland President Leszek Balcerowicz told Bloomberg News in a television interview "Our hopes are for 2007" to adopt the euro and it was worth aiming for early adoption.
Moldova's central bank diversifies forex reserves
The central bank of Moldova has diversified its foreign exchange reserve portfolio to guard against exchange rate risk, according to the ITAR-TASS news agency.
Brown pledges not to fix euro entry tests
Gordon Brown said on Wednesday 18 June that the five euro entry tests would not be fixed, in a report in the Financial Times, and that the review in next year's budget of reforms aiming to create convergence between the UK and eurozone economies would…
ECB's Issing not worried by euro rise - Report
Rather than being overvalued the euro is, in European Central Bank chief economist Otmar Issing's view, "above all" a correction of its previous undervaluation, he told Der Spiegel magazine.
"Do not impose a currency crisis on Europe"
In an article in the Financial Times Charles Wyplosz asks which exchange rate band should apply to the EU's accession countries aiming to qualify for membership of the euro. The narrow exchange rate mechanism band of 2.25 per cent may apply but the new…
Euro rises as ECB cuts rates by 0.5%
Slowing inflation has prompted the ECB to at last cut rates by half a percentage point to 2%, after persistent pressure from the markets, Bloomberg reports. The immediate consequence was a rise in the euro.
Slovakia's cb favours fast euro entry
The National Bank of Slovakia governor Marian Jusko believes joining the euro will create a "stable economic environment" and consequently favours a fast entry to the euro zone.
Statement by IMF Mission on Euro Area Policies
In the concluding statement of the IMF Mission on Euro Area Policies released 28 May the IMF saw 'considerable scope for monetary easing' but recognised that monetary policy could only play a 'supportive' role in the resumption of Eurozone growth. The…
ECB's Padoa-Schioppa: no danger of deflation
Tommaso Padoa-Schioppa of the ECB was quoted Monday as saying speculation over deflation was alarmist and that the central bank stands ready to act if necessary, according to Reuters.
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.
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
Riksbank on the euro in Swedish financial sector
Manageable risks in the changeover process if Sweden adopts the euro 2006, 14 May. A report published on Wednesday 14 May by the Sveriges Riksbank "The Euro in the Swedish Financial Sector - Progress Report 9" contains a summary and update of financial…
A spring-cleaning for the Eurosystem
As the Eurosystem prepares for the arrival of new members, it has first to attend to some housekeeping. A report by Nick Carver
The stability and growth pact: next steps
A flexible and cyclical assessment of euro countries’ finances will mean earlier warnings from Brussels. Has the pact bounced back? William M. Clarke reports.
New splits over UK euro entry decision
On Sunday 11 May splits emerged over the euro, reports the Financial Times. UK cabinet ministers are sending different signals about whether euro entry is inevitable at some future point and the timing of a referendum.
Blair's euro ambitions in danger
A article in the Financial Times suggests that Tony Blair's euro ambitions are in danger from the five economic tests and the latitude given to the chancellor of the exchequer by the prime minister.
Bundesbank's Stark unconcerned about euro rise
In an interview Vice President of the Bundesbank reported by Reuters, Juergen Stark said the global economy was not heading towards a major crisis and pointed to the fact that a strong euro made imports - particularly oil - cheaper, stimulating the…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this week's Special Feature CentralBankNet presents extracts from an exclusive interview with Professor Manfred Neumann of the University of Bonn. In the interview Professor Neumann spoke to Central Banking journal's Editor Robert…
HKMA's Euro Clearing System goes live
The Hong Kong Monetary Authority's new Euro Clearing System will process its first transaction on 28 April. The key functions of the Euro Clearing System will include an interbank Real Time Gross Settlement (RTGS) system.
UK tests for joining the euro
An article in the Financial Times suggests the UK government's assessment of whether the economic tests for membership of the euro have been passed will be important, even though it is widely expected that the tests will not have been passed. The…
Travelex loses court battle over euro symbol
Following the court action by British bureau de change Travelex, a verdict was reached on Thursday 10 April, according to Business & Finance. Travelex claimed that they owned the "€" euro symbol, had used it since 1989 and that the ECB's use of it…
Riksbank's Irma Rosenberg attends EMU seminar
Sveriges Riksbank Deputy Governor Irma Rosenberg said at a seminar that it is important to safeguard long-term stability in EMU.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In an exclusive interview with CentralBankNet.com, Professor Fatih Ozatay, the vice-governor of the Central Bank of the Republic of Turkey, explains how the war in Iraq is affecting the central bank, and what it is doing to mitigate…
Irish central bank- Euro economies underperforming
The governor of the Central Bank of Ireland, John Hurley, has described the current period as a time of exceptional uncertainty in the world economy. In a speech delivered in Dublin and reported by Dow Jones Newswires, he said the outlook for global…