European Central Bank (ECB)
EMU not all it's cracked up to be
ARTICLE - Fabrice Collard and Harris Dellas from the Centre for Economic and Policy Research have published a paper "Exchange Rate Systems and Macroeconomic Stability". One of the article's vital conclusions is that the justification of the single…
O'Neill mystified by Europe's complacency-FT
EUROPE - Paul O'Neill, U.S. Treasury secretary, said on Apr 19 that he was "mystified" by European leaders' claims that Europe would not be affected much by a U.S. downturn, the Apr 20 overseas edition of the Financial Times reported.
ECB says bases policy on too slow, inaccurate data
GERMANY - The European Central Bank said on Apr 19 that the data on which it based policy decisions was often not timely or accurate enough for the job.
European fin mins meeting to discuss growth, ECB
EUROPE - European finance ministers meeting in Malmo this weekend have put the European Central Bank on notice that it had better explain its refusal to cut interest rates amid gathering gloom for global growth.
Fed decision unlikely to influence ECB rates
EUROPE - Euro-zone interest rates are unlikely to change in response to the Federal Reserve's half point cut in key interest rates. The ECB again defended its decision last week not to reduce rates.
Portugal cbank chief sees euro firming in 2001
PORTUGAL - Bank of Portugal governor Vitor Constancio on Apr 18 predicted the euro would recover from its current weakness by the end of 2001.
Lemierre rejects talks on ECB candidature - report
GERMANY - Jean Lemierre, president of the European Bank for Reconstruction and Development, dismissed media speculation he is a candidate as the next head of the European Central Bank, a British newspaper reported on Apr 16.
Trichet says ECB immune to rate cut pressures
FRANCE - The European Central Bank will not and should not be influenced by outside pressures for a cut in interest rates, Bank of France Governor Jean-Claude Trichet said on Apr 12, 2001.
ECB's anti-fraud committee-annual report
REPORT - The ECB has published the annual report of its anti-fraud committee, which is chaired by Mr. Justice John Murray. The committee concludes "it has not found any cause for concern with the functioning of the established internal control structure…
ECB keep rates at 4.75%, despite pressure
EUROPE - The European Central Bank on Apr 11 maintained interest rates at 4.75% because of inflationary pressures in the eurozone, but the central bank acknowledged that risks on the downside remained.
Getting to the heart of central bank indecisivenes
ARTICLE - A letter published in the Financial Times on Apr 11 comments on an article published in the FT on Apr 10 "Avoiding interest rate surprises" which gave a personal view by European member of parliament Sir Christopher Huhne.
Eichel sets out vision for financial regulation
GERMANY - The German finance ministry unveiled on Apr 11 draft legislation to shake up the structure of the country's central bank and supervisory agencies in response to the arrival of the euro and changes in financial markets.
US Fed decision are 'market driven'-Tietmeyer
UNITED STATES - The US Federal Reserve must take care not to allow its policy decisions to be market driven, former Bundesbank president Hans Tietmeyer told the Apr 12 edition of German financial magazine Focus Money, according to an early release of the…
Buba annual report-global risks to growth
GERMANY - In its annual report published on Apr 10, the Deutsche Bundesbank said that German and Eurozone growth would continue but that the downside risks had increased.
France backs Trichet, but Lemierre in wings-paper
FRANCE - Bank of France Governor Jean-Claude Trichet remains France's choice to succeed Wim Duisenberg as president of the ECB, but another Frenchman Jean Lemierre is an "option," French finance ministry sources told Les Echos.
ECB should avoid market surprises-Chris Huhne
ARTICLE - In a guest column in the Financial Times on Apr 10, euro MP Chris Huhne says that the European Central Bank needs a clearer reporting process for its decisions on monetary policy.
Central bankers want decision on next ECB chief-FT
EUROPE - The Financial Times newspaper reported on Apr 9 that pressure is growing for an early decision to be made on who succeeds Wim Duisenberg as president of the European Central Bank.
Euro-area banking at the crossroads-IMF paper
RESEARCH - This IMF working paper by the European I department looks at the institutional arrangements for euro-area banking supervision. The authors endorse stronger cross-border coordination among supervisory authorities but notes that more formal…
E-economy: will we still need banks in the future
SPEECH - Wim Duisenberg, president of the European Central Bank, gave a speech on April 4 about the developments in electronic finance and the implications for banks. He is optimistic of the benefits, such as a more efficient allocation of capital, but…
Optimal monetary policy in a currency area
ARTICLE - Pierpaolo Benigno has written an paper "Optimal monetary policy in a currency area" for the Centre for Economic and Policy Research. The author concludes that the European Central Bank should give a higher weight to inflation in the countries…
Spain's Caruana-eurozone inflationary risks remain
SPAIN - Bank of Spain Governor Jaime Caruana said Apr 4, 2001 that inflationary risks in the euro zone are easing but continue to exist.
Risk measurement and systemic risk conference
CENTRAL BANK CONFERENCE - On March 7-8, 2002, the Committee on the Global Financial System (CGFS), in co-operation with the Bank of Japan, the Board of Governors of the Federal Reserve System and the European Central Bank, will host, under the auspices…
ECB MoU on payment systems and supervision
CENTRAL BANK REPORT - The European Central Bank issued a Memorandum of Understanding (MoU) on Apr 2, 2001 describing the specific arrangements for co-operation and information sharing between EU payment system overseers and banking supervisors in…
IMF Koehler urges ECB to cut interest rates
EUROPE - International Monetary Fund Managing Director Horst Koehler called on the European Central Bank on Apr 2, 2001 to cut interest rates in order to help a slowing euro-zone economy.