Latvia

Latvia allays devaluation fears

Einars Repse, Latvia's finance minister and a former governor of the Bank of Latvia, on 29 May reinforced comments by Ilmars Rimsevics, the governor, that the country was not facing a currency devaluation.

Latvia cuts to 4%

The Bank of Latvia cut its key rate by a full percentage point on Thursday in a bid to limit the scale of its economic contraction.

Latvia feels the turmoil

The Latvian economy shows increased signs of a deceleration, said Ilmars Rimsevics, the governor of the Bank of Latvia.

Latvia leaves rates unchanged

The Bank of Latvia decided on 13 September to leave key interest rates unchanged, with the refinancing rate remaining at 6%, overnight loans at 7.5% and the overnight deposit rate at 2%.

Latvia leaves rates on hold

The Bank of Latvia's Council voted to leave its refinancing rate unchanged at 6% noting that its anti-inflation plan was starting to take effect and there were the first signs of a stabilisation in the real estate market.

Latvia: Annual Report

While Latvia enjoyed rapid economic growth in 2006 - the highest in EU - this was tempered by signs of macroeconomic imbalance, the governor noted in the central bank's annual report.

IMF's Rato on the Japanese economy

In a speech given on 26 February Rodrigo de Rato of the IMF said warned policymakers and investors about increasing growth in yen carry trades and urged Japan to make clear that deflationary pressures are being rooted out.

Central banks sign MoU on financial crises

An agreement entitled "Memorandum of Understanding on Management of a financial crisis in banks with cross-border subsidiaries or branches" was signed in Stockholm Monday 18 December by the central banks of Sweden, Estonia, Latvia and Lithuania.

ECB issues warning to euro hopefuls

Some of the new members of the European Union lining up to adopt the euro will likely have to wait until the end of the decade, the European Central Bank said Tuesday 5 December.

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