European Central Bank (ECB)
ECB cuts growth outlook, with ongoing uncertainty
The European Central Bank Thursday slashed its forecasts for growth in coming years, citing the "persistently high degree of uncertainty" as the main reason. The publication of the ECB's monthly report reveals more on the motivation for its recent half…
ECB may issue €1 note to help curb price rises
The European Central Bank is to discuss the idea of introducing one euro banknotes as a possible way to curb inflation. However, the high velocity of circulation of low value notes coupled with higher production costs would make this an expensive option.
Issing on monetary policy in world of uncertainty
SPEECH - In the speech 'Issing on monetary policy in a world of uncertainty' Otmar Issing of the ECB said that central bankers have to make decisions in a world of uncertainty. But, while the academic profession has made tremendous progress in analysing…
ECB agrees three-speed voting model
The ECB has addressed the problem of how votes will be allocated in an enlarged euro-zone. Their choice of model has been described as the "least worst" option and will limit the number of voting members to 21.
ECB wants all euro aspirants to join ERM
The European Central Bank (ECB) has recommended that all countries seeking to join the euro must first spend at least two years in the exchange rate mechanism (ERM). This contrasts with comments from Swedish politicians who recently said they would try…
ECB's Issing warns of limits to transparency
There are limits to the degree of transparency that central banks are able to supply, European Central Bank chief economist and executive board member Otmar Issing said on Monday. He also noted that the introduction of the euro had raised peoples…
Issing on stable prices and stable markets
SPEECH - In the speech 'Why stable prices and stable markets are important and how they fit together' Otmar Issing of the ECB discussed what is a reasonable definition of price stability and reminds us of its importance for overall economic performance…
ECB may redefine monetary strategy, price target
The European Central Bank is to re-assess its "two-pillar" monetary strategy next year amid signs that it is edging towards a more flexible approach to its price-stability mandate.
ECB rate cut will boost confidence: Welteke
Following the ECB's half point interest rate cut to 2.75 percent last week, ECB council member Ernst Welteke has said the move should boost confidence and bring long term improvement in euro zone economies.
Euro rates slashed to boost growth
Mounting fears over the sluggish eurozone economy have prompted the European Central Bank (ECB) to cut its key interest rate by a half-point, to 2.75%. There have been strong hints in the weeks since the last meeting from governing council members that…
Monitoring the European Central Bank - Update
RESEARCH - Surviving the Slowdown, Monitoring the European Central Bank Update No. 4, December 2002, authors include David Begg and Paul De Grauwe. MECB 4 describes the challenge for monetary policy and assesses the ECB response. Interest rates fell much…
ECB rate cutting far too slow says report
ECB watcher David Begg had some harsh words to say on the ECB's recent performance, but offered a little sympathy for a central bank that is not allowed to take the credit when it deserves it.
ECB's Duisenberg wins award after euro launch
An awards ceremony Tuesday gave ECB president Wim Duisenberg the title of "Business Leader of the Year" after the successful launch of the euro. There was also a somewhat tongue in cheek prize for Romano Prodi.
Duisenberg on economic and monetary developments
TESTIMONY - In testimony before the European Parliament Wim Duisenberg of the ECB welcomed new proposals by the EU to reform the euro zones much criticised Stability and Growth Pact telling the economic and monetary affairs committee that the proposals…
Issing on the euro after four years and deflation
SPEECH - In the speech 'The euro after four years: is there a risk of deflation?' Otmar Issing of the ECB said stagflation was a bigger threat to the euro zone than deflation. This he said, "deserves much more attention than the risk of deflation". In a…
Review of the international role of the euro
REPORT - The European Central Bank published its annual review of the international role of the euro on 2 December. The main findings are that the euro is the second most widely used currency internationally and its role is still growing, albeit…
ECB chief says euro zone inflation risks falling
Duisenberg's comments on Tuesday, in testimony to the European parliament, seem to strengthen feeling that the ECB will cut interest rates when it meets on Thursday. The futures market seems certain of at least a quarter point cut with a fifty per cent…
Hamalainen - Reflection on euro area membership
SPEECH - In the speech 'Reflection on euro area membership' Sirkka Hamalainen of the European Central Bank said the approaching enlargement of the EU means the ECB must reform, particularly as most of these countries have expressed a firm interest in…
Issing: ECB not satisfied with inflation rate
European Central Bank Chief Economist Otmar Issing Monday attempted to debunk talk of deflationary risks in the euro zone, indicating that stagflation is actually a bigger risk for the region. The ECB's Governing Council meets this week and is widely…
Euro group meets to study future of stability pact
Euro group finance ministers met on Monday for the first time since Brussels proposed new ideas to strengthen the 12-nation zone's much-maligned stability pact. The pact, while staunchly defended by the ECB as 'indispensable' has received much criticism…
ECB may be ready to cut rates - Lucas Papademos
European Central Bank Vice-President Lucas Papademos on Wednesday gave the latest sign the bank was ready to reduce interest rates, saying the improved inflation outlook gave more room for a rate cut. The ECB Governing Council is due to meet on 5…
Hamalainen on The euro - a world currency
SPEECH - In the speech 'The euro - a world currency' Sirkka Hamalainen of the ECB said that although price stability is necessary for a healthy economy and a competitive currency, on its own it is not sufficient. She said all the Member States that have…
ECB worried inflation hasn't slowed with economy
The European Central Bank is concerned that inflation in the euro zone hasn't slowed as much as growth has this year, Chief Economist and Executive Board member Otmar Issing said in a newspaper interview.
ECB Press Release
PRESS RELEASE - European Central Bank launches international architectural competition, 26 November.