European Central Bank (ECB)
ECB Monthly Bulletin, June 2006
The European Central Bank published its June 2006 Monthly Bulletin on Thursday 15 June. In the report the ECB said inflation risks from strong money supply growth have become much clearer over the past two years.
ECB's Trichet on the Paris Club's 50th Anniversary
In the speech 'Celebrating the 50th Anniversary of the Paris Club' given on 14 June Jean-Claude Trichet of the ECB said the concept of the Paris Club seems to have been in many respects a precursor signalling some of the main features that later proved…
New global note arrangement for debt securities
The ECB confirmed Monday 12 June that the so-called New Global Note (NGN) arrangement for international debt securities is in compliance with the Eurosystem's Standards for the use of EU securities settlement systems in ESCB credit operations.
Mersch says ECB ready to raise rates again
With inflationary pressures evident in the eurozone, the European Central Bank stands ready to raise interest rates again whenever necessary, Governing Council member Yves Mersch said at the presentation of the Luxembourg central bank's annual report.
Buba's Meister warns on Euronext/NYSE plans
Bundesbank Executive Board member Edgar Meister said in an interview that a merger between Euronext NV and the New York Stock Exchange would stop the process of integration in the financial markets of Europe, and could possibly disrupt it for a longer…
Trichet is right to be nervous about inflation
According to this article by the Financial Times, published Monday 12 June, Jean-Claude Trichet and his ECB colleagues are nervous about inflation and rightly so.
ECB's Tumpel-Gugerell on payment systems
In the speech 'Drivers for change in payment and securities settlement systems' given on 9 June Gertrude Tumpel-Gugerell of the ECB said exploiting technological innovation can be an important means of saving costs, which is a pressing need in the…
ECB's Gonzalez-Paramo on global imbalances
In the speech 'Central banks and global imbalances: Introduction to the round table' given on 9 June Jose Manuel Gonzalez-Paramo of the ECB said the ECB takes account of the euro's exchange rate when it sets interest rates, but it is only one factor in…
Trichet on activism & alertness in monetary policy
In the speech 'Activism and alertness in monetary policy' given on 8 June Jean-Claude Trichet of the ECB said we are not in a position that we would judge "abnormal", in the sense that we would have to increase as rapidly as possible our interest rates…
ECB's Papademos on central banks in 21st century
In the speech 'Central banks in the 21st century' given on 8 June Lucas Papademos of the ECB said he agrees that asset price bubbles are difficult to identify in real time and are thus often only identified ex post.
Weber: Rate moves not subject to FX considerations
Bundesbank president and European Central Bank council member Axel Weber said Friday 9 June that the ECB cannot make interest rate decisions with reference to the level of the euro.
Comment: Papademos on asset bubbles
In a speech in Madrid last week, the ECB vice-president, Lucas Papademos, drew a line of distinction between the ECB's policy on asset prices and that of the US Fed. In doing so he sought to communicate that the Issing legacy is firmly in tact.
ECB publishes SIPS report
On 31 May 2006, the Governing Council of the European Central Bank (ECB) approved the "Business continuity oversight expectations for systemically important payment systems (SIPS)" report (published Friday 9 June).
Comment: Rates on the up
Monetary policymakers from Mumbia to Madrid to Pretoria stepped firmly on the monetary brakes yesterday, with no less than six central banks hiking rates.
ECB raises rates, sees further hikes ahead
European Central Bank president Jean-Claude Trichet said Thursday 8 June that the ECB is likely to raise interest rates again in future if the euro zone economy continues to recover.
ECB's Tumpel-Gugerell on SEPA
In the speech 'What is the outlook for the Single European Payments Area (SEPA)?' given on 7 June Gertrude Tumpel-Gugerell of the ECB said the project is on track and many hands are needed for making the SEPA vision reality.
Trichet warns on 'excessive dynamism' in prices
European Central Bank President Jean-Claude Trichet said on Monday 5 June it was important to take into consideration "excessive dynamism" in asset prices because of the potential inflationary effects.
ECB reshuffle aims for collegiate mood
According to the article "ECB reshuffle aims for collegiate mood and focus on policy" published by the FT on Friday 2 June, the European Central Bank has divided the role of its chief economist in a move that will allow an evolution in ECB thinking and…
Comment: Surprises as ECB reshuffles
The ECB last week surprised analysts by naming ex-Bundesbank official, Jurgen Stark, as head of its economics division. As expected, the central bank has split the management roles for the important divisions of economics and research, both previously…
Interview with Otmar Issing
In an interview published Thursday 1 June, outgoing ECB chief economist Otmar Issing said his parting message to his ECB colleagues was to get to grips with inflation.
ECB plans meetings in Dublin, Vienna in 2007
The European Central Bank said on Friday 2 June that it will hold meetings of its governing council in Dublin and Vienna next year.
ECB announces distribution of responsibilities
Within the framework of its collective responsibility for the overall functioning of the business areas of the European Central Bank, the Executive Board of the ECB agreed Thursday 1 June on a distribution of responsibilities among its members, with…
Which news moves the euro area bond market?
This ECB Working Paper explores a long dataset (1999-2005) of intraday prices on German long-term bond futures and examines market responses to major macroeconomic announcements and ECB monetary policy releases.
Comment: Replacing Issing
Pressure is mounting on the ECB to finalise the reshuffle of its executive board, necessitated by the departure of its chief economist and head of research, Otmar Issing, this week. The absence of any official announcements on the matter is leading to…