Europe
ECB's biannual information on euro counterfeiting
The European Central Bank revealed on Thursday 13 January that in the second half of 2004, a total of 287,000 counterfeit euro banknotes were withdrawn from circulation, both in euro area and in non-euro area countries.
ECB decides on the design for its new premises
At Thursday's meeting, 13 January, the European Central Bank reached a decision on the design of the ECB's new premises in Frankfurt am Main, Germany. The Governing Council concluded that the revised design concept of COOP HIMMELB(L)AU best meets the…
Faster growth may lead to higher rates, says Weber
European Central Bank council member Axel Weber said that the central bank may have to increase interest rates if the eurozone economy expands more quickly than it expects.
ECB press conference with questions and answers
Speaking at the ECB's press conference on Thursday 13 January, after the Governing Council left eurozone interest rates unchanged, Jean-Claude Trichet said there is no significant evidence that underlying domestic inflationary pressures are building up…
EC's Barroso says stability pact deal possible
In an interview with Italian daily La Stampa, European Commission president Jose Manuel Barroso said he believes it will be easier for EU states to reach a compromise over reforms to the stability and growth pact than on future contributions to the EU…
ECB's Issing says euro rise has 'gone too far'
European Central Bank chief economist Otmar Issing said in a speech that the dollar's adjustment against the euro has gone too far and it now needs to adjust against Asian currencies, particularly the Chinese yuan.
ECB's review of the international role of the euro
The European Central Bank published its annual review of the international role of the euro on Friday 7 January. As with previous issues, the review reflects the ongoing efforts of the ECB to monitor and analyse the use of the euro by non-euro area…
Report says ECB's losses increased last year
The European Central Bank, which posted a 2003 loss of 477 million euros (US $625 million), saw its net loss increase to at least one billion euros last year as a result of the weak dollar, according to the German Handelsblatt business daily.
Central bank credibility vital, says ECB's Issing
Speaking to the annual meeting of the Allied Social Science Associations, European Central Bank's chief economist Otmar Issing said interest-rate policy can only control inflation in the "medium to longer term," and that consistent policy was needed to…
ECB's framework for the detection of fake euros
The Eurosystem's terms of reference for the detection of counterfeits and fitness sorting of euro banknotes by credit institutions and other professional cash handlers was published on Thursday 6 January by the ECB.
ECB announces public consultation on SWIFT
The European Central Bank announced on Wednesday 5 January that it was inviting the market to participate in the SWIFT public consultation on removing technical barriers to market integration.
ECB starts publishing administrative decisions
The ECB published details of operational decisions taken by the governing council for the first time on 17 December, in a move towards greater transparency.
Market remains fragemented: ECB-CFS study
According to a study published today, 20 December, by the European Central Bank and the Center for Financial Studies, integration of Europe's financial markets is still some way away.
ECB's Financial Stability Review, December 2004
The European Central Bank published its first ever Financial Stability Review on Wednesday 15 December. In the report the ECB expressed some concern about the risks posed by the large US current account deficit, warning that a "disorderly rebalancing"…
Bank of Japan, a role model for the ECB?
This article looks at recent comments from Gerhard Schroder that Europe "can learn something from Japan and its great monetary policy." Japan is the only major industrialized economy in the past 70 years to experience prolonged deflation and now its much…
Mersch says ECB ready to act on inflation
European Central Bank council member Yves Mersch said the bank would act if inflation expectations in the eurozone rise further after record oil costs raised prices this year.
Issing on inflation persistence in the euro area
In a speech on 'Inflation persistence in the euro area' given on 10 December, Otmar Issing of the ECB said that the degree of inflation persistence "has major implications for the optimal conduct of monetary policy".
ECB's Papademos on the role of structural reforms
In a speech on 'Determinants of growth and the role of structural reforms and macroeconomic policies in Europe' given on 9 December, Lucas Papademos of the ECB said current low interest rates are conducive to economic growth in the euro zone.
Interview with ECB's Issing
In an interview with Slovenian daily newspaper Delo published this week, European Central Bank chief economist Prof. Otmar Issing said the US twin current account and budget deficits are unsustainable and the US is well aware of this. He reiterated ECB…
Trichet on a stability-oriented monetary policy
In a speech on 'A stability-oriented monetary policy as a necessary condition for long term growth' given on 9 December, Jean-Claude Trichet of the ECB said uncertainty over the future of the stability and growth pact could mean higher long-term interest…
Gonzalez-Paramo: 'strong need' for price vigilance
Jose Gonzalez-Paramo, one of the European Central Bank's governors, said on Friday 10 December that in view of the recent surge in oil prices there is a "strong need for vigilance" over medium-term price risks.
ECB Monthly Bulletin, December 2004
The European Central Bank published its December 2004 Monthly Bulletin on Thursday 9 December, saying the outlook for inflation in the eurozone is "worrisome" after a 33 percent appreciation in the price of oil over the past year.
ECB's Tumpel-Gugerell on global view of euro
In a speech on 'The Euro - Financial strength and weakness from a global perspective' given on 6 December Gertrude Tumpel-Gugerell of the ECB said sharp moves in exchange rates are unwelcome because of their adverse impact on investment decisions.
ECB's Issing reassures on eurozone growth
The European Central Bank's chief economist Otmar Issing insisted in an interview published on Wednesday 8 December, that Eurozone growth would recover from its current lull next year.