Euro
Irish central bank- Euro economies underperforming
The governor of the Central Bank of Ireland, John Hurley, has described the current period as a time of exceptional uncertainty in the world economy. In a speech delivered in Dublin and reported by Dow Jones Newswires, he said the outlook for global…
ECB's Issing sees continued euro volatility
Otmar Issing of the ECB said on Tuesday March 25 that continued uncertainty would have an impact on the euro exchange rate, according to an Online report. He also said the euro is a candidate for a strong international role. But that we should not forget…
Bank of Israel looks for buyer of Euro Trade Bank
The Bank of Israel is on the lookout for potential buyers for the Privately owned Euro Trade Bank. Motivated by concerns for its stability, the central bank is not having much success, however.
Trichet on European Monetary Union and the euro
SPEECH - In the speech 'The European Monetary Union and the euro' Jean-Claude Trichet of the Bank of France stressed the importance of transparency for the conduct of the euro-zones single monetary policy. "Elected authorities, key economic players, as…
Kenya's ex-central bank chief hits back at critics
On Wednesday CentralBankNet reported the resignation, and prompt replacement, of Kenyan central bank chief Nahashon Nyagah over the Euro Bank affair. Now a report quotes Nyagah as denouncing what he called, the "orchestrated" campaign to oust him.
Issing on the euro - a stable currency
SPEECH - In the speech 'The euro - a stable international currency' Otmar Issing of the European Central Bank said the brief history of the ECB is already a success story.
Kenyan central bank governor defends himself
The governor of Kenya's central bank has excused himself from blame in the Euro Bank case. Nahashon Nyagah said the central bank acted professionally in the case.
Trichet offers UK support on euro entry
Bank of France governor Jean-Claude Trichet has said he would welcome Britain's participation in the euro single currency at the earliest opportunity.
Poland sets new inflation target
The Polish central bank has reduced interest rates and at the same time set a new inflation target. The move is aimed at guaranteeing Poland joins the euro zone at the earliest possible date of 2007.
Duisenberg: ECB may cut rates further
Speaking at the weekend Wim Duisenberg suggested the ECB could cut interest rates further and said a weakened outlook for the euro zone economy could reduce inflationary pressures.
ECB Press Release
PRESS RELEASE - Financing and financial investment in the euro area in the third quarter of 2002, 19 February.
Interest rate warning on euro entry
Bank of England MPC member Kate Barker has called into question the economic case for joining the euro citing "difficulties in the European policy background and problems with the UK exchange rate".
German economy stagnant, says Bundesbank
Germany appeared to move a step closer to a new recession Monday when the Bundesbank estimated that the euro zone's biggest economy contracted slightly in the fourth quarter of last year.
Prodi urges more flexibility on Pact
European Commission president, Mr Romani Prodi, has called for more flexible rules governing the 12-nation euro zone, amid warnings that war on Iraq could throw the region's economy further off course. Prodi famously referred to the Pact as 'stupid'…
Poland to join euro zone in 2007- finance minister
Finance Minister Grzegorz Kolodko reiterated that Poland could meet Maastricht convergence criteria in 2005 and join the euro zone in 2007.
ECB Monthly Bulletin, February 2003
REPORT - The European Central Bank published its February 2003 Monthly Bulletin on 13 February. This issue contains two articles. The first addresses the interactions between the single monetary policy and fiscal policies in the euro area. The second…
ECB's Papademos-Higher inflation target won't help
European Central Bank Vice President Lucas Papademos has said that raising the central bank's inflation target to 3 or 4 percent will not provide more room for growth in the euro area.
'Strong euro won't harm EU growth'
European Central Bank President Wim Duisenberg said Thursday that the recent strong rise in the euro should not hit the competitiveness of goods made in the 12-country euro zone, nor harm the outlook for growth in the region.
ECB formally agrees change to vote system
The Governing Council of the European Central Bank (ECB) has formally agreed to change its voting system after new member-states join the euro zone.
Romanian central bank to switch reference to euro
The Board of the National Bank of Romania (BNR) has decided to set the reference exchange rate for the Romanian currency against the euro starting in March this year.
Sveriges Riksbank Press Release
PRESS RELEASE - Changes in the routine for EU payments, 3 February.
Treasury Committee assess euro entry prospects
A series of hearings continued Tuesday with a distinguished panel of experts giving evidence to the UK's Treasury Select Committee on the prospects for UK euro entry. The group called for reform of the ECB with a redefined inflation target and gave a…
Soros criticises EU budget rules inflation focus
Renowned U.S. financier and philanthropist George Soros criticised the euro zone's strict budget rules Monday, saying there are serious problems in the management of the common currency that must be resolved.
Hamalainen on how the ECB manages the euro
SPEECH - In the speech 'How the European Central Bank manages the euro and what is in store for 2003' Sirkka Hamalainen of the European Central Bank expressed concern over the widely-held perception that monetary policy can solve very different stability…