Eurozone
ECB statements and interest rate predictability
The DNB Working Paper "Is a word to the wise indeed enough? ECB statements and the predictability of interest rate decisions" shows that comments by euro area central bankers contain information on future ECB interest rate decisions, but that the…
Comment: Communication and predictability
Two recent studies investigate the effects of more open communication strategies at both the Fed and the ECB on the predictability of subsequent interest rate decisions. The conclusions reached differ considerably.
Papademos to be named ECB chief economist - report
European Central Bank (ECB) vice president Lucas Papademos will replace Otmar Issing as chief economist in May, the Sueddeutsche Zeitung reported, citing unnamed sources close to the bank.
ECB poses no objection to Stark's appointment
At Thursday's meeting, 2 March, the Governing Council of the ECB adopted an opinion on a recommendation from the Council of the European Union on the appointment of a new member of the Executive Board of the ECB.
ECB raises rates, says more rises are possible
The European Central Bank raised its benchmark interest rate on Thursday 2 March for the second time in three months and suggested more hikes are possible as economic growth and inflation accelerate.
Comment: ECB continues to tighten
As expected the European Central Bank (ECB) yesterday raised eurozone interest rates by another 25 basis points, taking them to 2.5%. With the markets pricing in two further 25 basis point hikes this year, attention now turns to whether ECB president,…
ECB paper on the euro cash changeover
The ECB Working Paper "Rational inattention, inflation developments and perceptions after the euro cash changeover" uses the euro cash changeover to test theories of finite information-processing capacities on the side of consumers.
ECB's Gonzalez-Paramo on EU cross-border banking
In the speech 'Cross-border banking in the EU: developments and emerging policy issues' given on 24 February Jose Manuel Gonzalez-Paramo of the ECB said financial integration is a highly dynamic process, in which market developments and policy action are…
ECB's Trichet on EU and euro area enlargement
In the speech 'Looking at EU and euro area enlargement from a central banker's angle: the views of the ECB' given on 27 February Jean-Claude Trichet of the ECB said the 10 new EU member states need to show 'high vigilance' on inflation and cut their…
Bundesbank fights to shine in ECB's shadow
Germany's Bundesbank is battling to redefine its role in the new eurozone monetary order headed by the European Central Bank, according to this article published Friday.
Comment: The ECB's 'structural flaw'
In a lecture at the London School of Economics this week, Charles Goodhart suggested that the criticism directed towards the ECB by politicians, is the result of a "structural flaw" in the way the central bank's inflation objective was defined.
Want to save the euro? Bring back 12 currencies
According to this article published on Monday 27 February, reissuing the 12 national currencies that were replaced with the euro may be the only way to salvage something from an experiment that looks more like a failure with every month that passes.
Bulgaria doing everything to join euro
Bulgarian Prime Minister Sergei Stanishev told European Central Bank President Jean-Claude Trichet on Monday 27 February that his government was doing everything possible to join the EU as soon as possible and to introduce the euro in 2009.
ECB launches 'Legal Working Paper' series
The European Central Bank on Friday launched the publication of a Legal Working Paper series. The contributors to the Legal Working Paper series are lawyers from within the ECB, as well as lawyers who have otherwise contributed to the ECB's legal…
ECB's Trichet to visit Bulgaria on Monday
President of the European Central Bank Jean-Claude Trichet will visit Sofia on 27 February at the invitation of the Bulgarian Deputy Prime Minister and Foreign Minister Ivaylo Kalfin.
ECB's Tumpel-Gugerell on the Lisbon Agenda
In the speech 'The Lisbon Agenda - what can banks contribute?' given on 23 February Gertrude Tumpel-Gugerell of the ECB said the creation of a single eurozone payments area will not just reduce banks' revenues but will also cut their costs.
ECB's Wellink sees 2% eurozone growth
Dutch central bank governor Nout Wellink told an audience in Toronto Monday that he was "mildly optimistic" for Europe's future and saw growth in the euro area in the next two years of about 2 per cent.
Comment: Sepa progress report
In its fourth progress report on the Single Euro Payments Area (Sepa) the ECB says it "expects the European Payments Council (EPC) to take overall responsibility for defining and implementing a monitoring framework for each phase of the migration process…
IMF Paper on forecasting ECB monetary policy
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. This IMF Working Paper published February 2006 asks how this heterogeneity affects the ability of…
Garganas says eurozone inflation risks increased
Greek central bank governor Nicholas Garganas said on Friday 17 February that since December's hike in eurozone interest rates, inflation pressures have increased, partly due to rising oil prices.
Buba's Weber says inflation risks remain
Bundesbank president Axel Weber told a conference on Monday 20 February that inflation risks still exist in the eurozone and a forward-looking monetary policy is needed to counter these risks at an early stage.
Trichet sees strengthening eurozone economy
European Central Bank President Jean-Claude Trichet said on Monday 20 February he sees economic activity in the eurozone strengthening. He warned, however, that risks to price stability have increased.
ECB's Gonzalez-Paramo on the National Accounts
In a speech on the measurement of economic phenomena, with special reference to the System of National Accounts given on 2 February Jose Manuel Gonzalez-Paramo of the ECB said undoubtedly, globalisation is proceeding at a rapid pace, and statisticians…
Buba's Remsperger sees medium term inflation risk
Bundesbank chief economist Hermann Remsperger said in an interview that inflationary risks for the euro zone remain high in the medium term.