European Central Bank (ECB)
Tumpel-Gugerell on European financial integration
In the speech 'European financial integration and the financial system' given on 6 July Gertrude Tumpel-Gugerell of the ECB said economic growth and prosperity was one of the main goals for the establishment of the European Union. The next hurdle is now…
Norges Bank Economic Bulletin, July 2006
Norges Bank published its July 2006 Economic Bulletin on Thursday 6 July. The latest Bulletin includes: "Review of the ECB's strategy and alternative approaches," a speech by Jan Qvigstad, Chief Economist, Norges Bank and "Norges Bank's management of…
Trichet gives strong hint on August rate rise
European Central Bank president Jean-Claude Trichet said Thursday 6 July that the ECB governing council will meet in person on 3 August rather than by teleconference, as it normally does for its early August policy meeting.
Comment: The ECB's gamble
The president of the ECB, Jean-Claude Trichet, has announced that the central bank will take the highly unusually step of meeting in person on 3 August, rather than conduct the scheduled conference call. In doing so, Trichet has effectively pre-announced…
ECB paper on financial stability challenges
The ECB Occasional Paper 'Macroeconomic and financial stability challenges for acceding and candidate countries' reviews macroeconomic and financial stability challenges for acceding (Bulgaria and Romania) and candidate countries (Croatia and Turkey).
Comment: All eyes on Trichet
All but two of the 43 economists polled by Bloomberg recently expect the European Central Bank (ECB) to keep interest rates at 2.75% this week. All eyes will, however, be on the central bank's president, Jean-Claude Trichet, to see if he alludes to the…
Bank of Portugal sold 15 tonnes of gold recently
The Bank of Portugal said on Tuesday 4 July that it has sold 15 tonnes of gold from its reserves in the last few months.
ECB paper on Japanese forex intervention
Based on a GARCH framework and change point detection, the ECB Working Paper "A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility" tests for a structural break in the effectiveness of…
Comment: Talking points in June
June has been a particularly eventful one for many emerging markets, with talk of increase risk aversion and reduced international liquidity driving a reversal of market sentiment towards emerging market currencies. The month also saw some important…
The Dutch block of the ESCB multi-country model
This ECB Working Paper, published June 2006, presents the Dutch country block of the ESCB Multi-Country Model (MCM) for the euro area.
ECB paper on monetary policy
The ECB Working Paper "Adaptive learning, persistence, & optimal monetary policy" shows that, when private sector expectations are determined in line with adaptive learning, optimal policy responds persistently to cost-push shocks.
Trichet on further integrating euro area economies
In the speech 'Further integrating euro area economies: some reflections' given on 29 June Jean-Claude Trichet of the ECB said the economic and financial environment is changing and euro area countries are becoming progressively more interdependent.
Transparency, expectations, and forecasts
In 1994 the FOMC began to release statements after each meeting. This ECB Working Paper investigates whether the public's views about the current path of the economy and of future policy have been affected by changes in the Federal Reserve's…
Iran's central bank and BIS to boost cooperation
According to IRNA news agency, Iran's central bank governor Ebrahim Sheibani held talks with the general Manager of the BIS, Malcolm Knight, in Basel aimed at stepping up banking cooperation.
ECB 'permanently alert' says Trichet
European Central Bank president Jean-Claude Trichet said in an interview published Tuesday 27 June the ECB governing council is "permanently alert" and ready to act to counter inflation risks.
Garganas says ECB may aggressively raise rates
European Central Bank council member Nicholas Garganas said in an interview the bank is ready to accelerate the pace of interest-rate increases to counter higher inflation risks in the eurozone.
ECB keeping rate options open says Quaden
The European Central Bank is not ruling out the possibility of an interest rate hike in early August, ECB governing council member Guy Quaden was quoted as saying in an interview published Monday 26 June.
Buba's Weber says ECB 'very accommodative'
Bundesbank president Axel Weber said on Friday 23 June that the European Central Bank's monetary policy remains very accommodative despite the June 8 interest rate increase.
Liikanen says euro area inflation risks on upside
Inflation risks in the eurozone are on the upside, European Central Bank Governing Council member Erkki Liikanen was quoted as saying by Finnish daily Demari in an interview published on Thursday 22 June.
ECB's Trichet on economic and monetary issues
In the testimony given on 21 June Jean-Claude Trichet of the ECB said the insight that price stability is the primary goal for monetary policy has also been translated into the mandates of central banks of advanced economies and also of a very large…
Trichet will 'fiercely' defend ECB independence
European Central Bank president Jean-Claude Trichet told the European Parliament on Wednesday 21 June that he will "fiercely" defend the independence of the ECB.
ECB's Tumpel-Gugerell on the drivers of change
In the speech 'The drivers of change: regulation versus competition' given on 15 June Gertrude Tumpel-Gugerell of the ECB said the European case study shows that regulatory changes can have a very profound impact on the structure, profitability and…
Paper on European monetary policy
The paper "Is European monetary policy appropriate for the EMU member countries? A counterfactual analysis" analyses whether interest rate paths in the EMU member countries would have been different if the previous national central banks had not handed…
Juncker issues icy reply to Trichet
Jean-Claude Trichet, the European Central Bank president, has been sharply criticised by Jean-Claude Juncker, Luxembourg's prime minister, in an interview with Financial Times Deutschland, for refusing to discuss strengthening economic co-operation…