Eurozone
ECB announces changes in senior management
The Executive Board of the European Central Bank (ECB) announced Thursday 3 August it has decided on some changes in the senior management.
ECB paper on credit risk mitigation
The ECB Occasional Paper "Credit risk mitigation in central bank operations and its effects on financial markets: the case of the Eurosystem" reviews the role and effects of the collateral framework which central banks, and in particular the Eurosystem,…
Trichet says further rate rises may be 'warranted'
European Central Bank president Jean-Claude Trichet said Thursday 3 August more interest rate increases may be "warranted" after the bank increased eurozone rates for the fourth time in eight months.
Monetary conservatism and fiscal policy
This European Central Bank Working Paper, published 27 July, asks whether an inflation conservative central bank remains desirable in a setting with endogenous fiscal policy.
Counterfeiters finally crack the Euro note
According to this article published on The New Zealand Herald's website on Wednesday 2 August, the amount of counterfeit currency discovered in the 12 euroland countries is now running at 600,000 notes a year - roughly the same as before the single…
ECB paper on fiscal policy in a monetary economy
The ECB Working Paper "Fiscal policy in a monetary economy with capital and finite lifetime" published 27 July develops a dynamic stochastic general equilibrium model with nominal rigidities, capital accumulation and finite lifetimes.
Comment: Has Trichet's gambit paid off?
The ECB heads into this week's monetary policy meeting with markets fully expecting a 25 basis point hike. Has the decision to have an unscheduled meeting, which effectively pre-announced the decision, changed the prospects for the course of eurozone…
Mersch on monetary policy-making in the euro area
In the speech 'Monetary policy-making in the euro area' given on 28 June Yves Mersch of the Central Bank of Luxembourg said since the introduction of the euro, inflation rates averaged slightly more than 2% in the euro area.
ECB paper on fiscal policy in a monetary economy
The ECB Working Paper "Fiscal policy in a monetary economy with capital and finite lifetime" develops a dynamic stochastic general equilibrium model with nominal rigidities, capital accumulation and finite lifetimes.
ECB paper on the impact of policy decisions
The ECB Working Paper "The impact of ECB monetary policy decisions and communication on the yield curve" analyses high-frequency changes in the euro area money market yield curve on dates when the ECB regularly sets and communicates decisions on policy…
Monetary policy rules in the pre-EMU era
The ECB Working Paper "Monetary policy rules in the pre-EMU era: Is there a common rule?" analyses the period 1993 to 1998 saying there is no clear agreement regarding the monetary policy pursued in the member countries during the convergence process.
ECB sets Nov 2007 date for TARGET2
The European Central Bank on Friday 21 July confirmed the starting date for its payment system TARGET2 as 19 Nov 2007.
Comment: Scorecard for the euro
When the single European currency was launched, its expected boost to trade was one of, if not the main, benefits promised. Two recent studies question whether this promise has been met.
ECB's Bini Smaghi on financial globalisation
In the speech 'Financial globalisation and integration: What's next? A forward-looking perspective' given on 18 July Lorenzo Bini Smaghi of the ECB said economic and financial imbalances between the main economic regions of the world continue to widen…
ECB's Stark on financial globalisation
In the speech 'Financial globalisation: Economic policies in a new era' given on 17 July Jurgen Stark of the ECB said the risk of a disorderly unwinding of global imbalances is rather low.
Juncker says ECB not only one concerned on rates
The exchange rate policy is not the exclusive domain of the European Central Bank, the head of the Eurogroup Jean-Claude Juncker said in a newspaper interview published Thursday 20 July.
Tumpel-Gugerell on the Retail Banking Sector
In the speech 'Preliminary findings of the Retail Banking Sector Inquiry' given on 17 July Gertrude Tumpel-Gugerell of the ECB said called for progress on the integration of the EU's retail bank markets.
ECB's Bini Smaghi on global imbalances
In the speech 'European and Asian perspectives on global imbalances' given on 14 July Lorenzo Bini Smaghi of the ECB said for the euro area, Asia has now become a more important trade partner than the US.
ECB Monthly Bulletin, July 2006
The European Central Bank published its July 2006 Monthly Bulletin on Thursday 13 July. In the report the ECB said it is exercising strong vigilance on inflation risks and expects interest rates to rise progressively if the euro zone economy continues to…
Slovenian euro coin production begins
EU finance ministers on Tuesday 11 July gave Slovenia a final formal go-ahead for the country's entry to the eurozone as of January 2007.
Trichet says financial integration 'major goal'
European Central Bank president Jean-Claude Trichet said Tuesday 11 July financial integration is a key goal for the ECB as it will help boost growth and absorb shocks.
President of the Slovak Republic visits ECB
The President of the Slovak Republic, HE Ivan Gasparovic, visited the European Central Bank (ECB) on Monday 10 July.
Juncker says ECB 'pointing' to rate rise
Euro group president Jean-Claude Juncker said Monday 10 July the European Central Bank has been signalling that it will raise interest rates again before long.
Papademos on price stability & financial stability
In the speech 'Price stability, financial stability and efficiency, and monetary policy' given on 7 July Lucas Papademos of the ECB said transparency in monetary policy is important for financial stability and financial efficiency.