Europe
Trichet says intervention is central bank 'weapon'
The Governing Council of the ECB decided to keep eurozone interest rates unchanged at its meeting on Thursday 2 December. Speaking at the post-meeting press conference ECB president Jean-Claude Trichet said the euro's recent appreciation, which pushed…
ECB's Tumpel-Gugerell on financial integration
In a speech on 'Capital Markets and Financial Integration in Europe' given on 23 November, Gertrude Tumpel-Gugerell of the ECB said market-led initiatives are vital to make further progress in integrating the funding instruments for mortgages.
Trichet testimony: Oil price to dampen growth
In testimony to the European Parliament given on 30 November Jean-Claude Trichet of the ECB signalled that the bank is likely to lower its forecast for 2005 economic growth in the euro zone as the increase in oil prices impacts on consumer spending and…
No ECB comment on intervention talk
The European Central Bank declined to comment on reports coming out of Tokyo suggesting possible joint action with Japan on the foreign exchange market, AFX News said.
ECB report on bond markets & interest rates
The European Central Bank published the third and extended edition of a report entitled "Bond markets and long-term interest rates in non-euro area Member States of the European Union and in accession countries" on 24 November.
Trichet: S Eastern European challenges & prospects
In a speech on 'South Eastern European challenges and prospects' given on 29 November, Jean-Claude Trichet of the European Central Bank said that the recent enlargement to ten new Member States, as well as the progress in the accession negotiations with…
Trichet praises ECB's record on inflation
In a letter to the European Parliament, European Central Bank president Jean-Claude Trichet said that the ECB has a very successful record of keeping euro zone inflation under control despite adverse shocks such as the recent hike in oil prices.
ECB cannot react to short-term impacts says Issing
European Central Bank chief economist Otmar Issing said in a speech in Berlin on Thursday 25 November that the ECB cannot change interest rates in response to the short-term impact of external developments, such as this year's sharp rise in oil prices.
ECB appoints new Director General Research
The Executive Board of the European Central Bank has appointed Mrs Lucrezia Reichlin, Professor of Economics at the Universite Libre de Bruxelles, Belgium, as Director General Research at the European Central Bank from 15 February 2005.
No decision made on ECB's new premises
The Governing Council of the European Central Bank said on Thursday 18 November that it will continue its deliberations on the new ECB premises.
ECB decides not to issue €1 or €2 banknotes
The Governing Council of the ECB decided not to introduce very low denomination euro banknotes. In a press release Thursday 18 November it concluded that the negative aspects of introducing very low denomination banknotes outweigh the positive aspects.
Unified accounting rules adopted by EU
The European Commission said it has adopted a regulation unifying accounting rules across the EU from January 2005, with the exception of two disputed provisions, BizWorld reported on Thursday 18 November.
Gonzalez-Paramo on fiscal & monetary policy in EMU
In a speech on 'Fiscal and monetary policy in EMU' given on 11 November, Jose Manuel Gonzalez-Paramo of the ECB said that unlike most central bankers around the world today, and throughout history, European central bankers' point of reference is no…
EU finance ministers voice concerns
Eurozone finance ministers, meeting in Brussels on Monday night, 16 November, avoided pressuring the ECB over interest rates or intervention to stabilize the euro, but did voice their concerns over the euro's strength against the dollar
ECB mourns death of Eugenio Domingo Solans
Former member of the Executive Board of the European Central Bank Eugenio Domingo Solans died earlier this week after a long illness. In a message from the President on behalf of the ECB, Jean-Claude Trichet said the ECB was mourning a very dear…
ECB's Papademos on the euro: five years on
In a speech on 'The euro: five years on - Implications for Asia' given on 12 November, Lucas Papademos of the ECB said five years after its introduction, the euro is a solid, stable currency in which the markets and the public have confidence.
Gonzalez-Paramo says ex rate volatility excessive
Jose Gonzalez-Paramo, a member of the European Central Bank's governing council, said the ECB sees the volatility of the euro/dollar exchange rate as "excessive" after the euro broke the psychologically important 1.3 dollar threshold.
ECB Monthly Bulletin, November 2004
The European Central Bank published its November 2004 Monthly Bulletin on Thursday 11 November, saying in its regular quarterly 'Survey of Professional Forecasters', that the experts had revised downward their growth forecast for 2005 to 2% from 2.1%…
Trichet on the ECB's use of statistics
In a speech on 'The ECB's use of statistics and other information for monetary policy' given on 11 November, Jean-Claude Trichet of the ECB said the ECB has to avoid overreacting to short-term movements in economic data.
ECB's Papademos on the economic outlook
In a speech on 'The economic outlook and the ECB's monetary policy: some key issues' given on 11 November, Lucas Papademos of the ECB said higher oil prices are having a noticeable affect on inflation in the euro zone countries and growth will be hurt if…
Italy suggests joint action to stabilise euro
Domenico Siniscalco, Italy's economy minister, was quoted by several news agencies on Wednesday 10 November as saying of the euro that "a co-ordinated intervention is being talked about again, not a unilateral intervention. That would not help."
ECB's Issing concerned on eurozone inflation
European Central Bank (ECB) chief economist Otmar Issing said in an interview that eurozone inflation is higher than the bank would like it to be, and it is watching inflation developments with concern.
EU backs ECB warning on euro
The European Union's head office on Tuesday 9 November appeared to agree with comments by the European Central Bank president, warning that "excessive volatility" of the euro's exchange rate against the US dollar could damage economic growth in Europe.
Trichet says euro's record rise 'not welcome'
Economic growth "remains very steady," European Central Bank President Jean-Claude Trichet said at a briefing after a meeting in Basel, Switzerland, of the G-10 group, which he chairs. "Perhaps we're going to a level that's more sustainable in the medium…