Eurozone
Remarks by the ECB on the oversight of SWIFT
The European Central Bank (ECB) said in a press release Thursday 1 January it would like to note that central banks are responsible for fostering financial stability and promoting the smooth operation of payment and settlement systems.
Stark says ECB policy still accommodative
European Central Bank chief economist Juergen Stark told Boersen-Zeitung in an interview to be published Thursday 1 February that eurozone monetary policy remains accommodative despite the 25 basis point December rate increase.
Germany's Steinbrueck defends 'sacrosanct' ECB
German Finance Minister Peer Steinbrueck insisted Tuesday 30 January that European Central Bank independence was "sacrosanct" amid calls from some politicians for a more accountable ECB.
ECB's Gonzalez-Paramo on liquidity management
In the speech 'The challenges to liquidity management in the euro area: the perspective of the ECB' given on 25 January Jose Manuel Gonzalez-Paramo of the ECB said we are still investigating the underlying causes for the upward pressure on short-term…
Europe's uneven growth challenge
According to this article on the Project Syndicate website, growth has become less evenly balanced throughout the eurozone with the resurgence in German growth.
ECB policy still accommodating says Bini Smaghi
ECB board member Lorenzo Bini Smaghi said Saturday 27 January in a speech in Milan that current eurozone interest rates are still "accommodating" and will continue to be so in the coming months.
ECB's Trichet sees risk of inflation spiral
European Central Bank president Jean-Claude Trichet told French television there is a risk of an increase in inflation in the eurozone and noted that ECB rates are well below those of the US Fed.
ECB's Stark on policy efforts for 2007
In the speech 'Applause for 2006 should not abate policy efforts for 2007' given on 25 January Jurgen Stark of the ECB warned of inflation risks in the eurozone and reiterated that the central bank will act to preserve price stability.
ECB won't tolerate being a political football
According to this article from Reuters, published Wednesday 24 January, the European Central Bank has mounted its strongest defence so far against recent attacks on its independence from politicians.
ECB's Weber sees upward risks to inflation
Further European Central Bank action is needed to make sure that eurozone price stability remains in check, European Central Bank Governing Council member Axel Weber said Wednesday 24 January.
Bini Smaghi says ECB rate may rise further
ECB board member Lorenzo Bini Smaghi told La Repubblica in an interview published Tuesday 23 January that the ECB's rate is "still accommodating" and may have to rise further if growth expectations are confirmed to avoid excess liquidity.
Stark on monetary policy: a view from the ECB
In the speech 'Objectives and challenges of monetary policy: a view from the ECB' given on 19 January Jurgen Stark of the ECB said the ECB retains the freedom to move interest rates whenever it considers it necessary to control inflation pressures,…
Ministers concerned over settlement plan - report
European finance ministers have raised doubts about the European Central Bank's plan to provide its own settlement system for eurozone securities transactions, the Financial Times reported Monday 22 January.
ECB denies Trichet, Juncker, Almunia meetings plan
The European Central Bank denied a report on Monday 22 January which claimed Jean-Claude Trichet, Eurogroup chief Jean-Claude Juncker and EU commissioner Joaquin Almunia had agreed to hold informal meetings on the sidelines of the ECB's monthly press…
ECB's Liikanen says inflation remains a big risk
European Central Bank Governing Council member Erkki Liikanen said there were still upside risks to inflation in the eurozone, Finnish national broadcaster YLE reported Sunday 21 January.
Bini Smaghi on global capital & monetary policies
In the speech 'Global capital and national monetary policies' given on 18 January Lorenzo Bini Smaghi of the ECB said central banks must be careful not to overreact to declines in real bond yields, which may reflect special factors related to…
Europe's club of nations needs a rule change
According to this article by Zdenik Tma, governor of the Czech National Bank, first published by the Financial Times on 4 January, ERM-2 rules might have been perfectly legitimate in the past, but today they are outdated and -counter-productive.
ECB Monthly Bulletin, January 2007
The European Central Bank published its January 2007 Monthly Bulletin on Thursday 18 January. In the report the ECB said it will continue to monitor all economic developments very closely to ensure that euro zone inflation remains under control.
EU's Almunia positive on 2007 inflation
European Union Monetary Affairs commissioner Joaquin Almunia said Thursday 18 January eurozone growth and inflation should be roughly in line with 2006 figures this year thanks largely due to a positive outlook for Germany.
Stark says ECB criticism has little support
European Central Bank board member Juergen Stark said in a speech on Wednesday 16 January that criticisms of the ECB by some politicians have very little support and are simply a reflection of some countries' failure to adapt to monetary union.
ECB paper 'Adjusting to the euro'
In this ECB Working Paper the authors argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents.
ECB says pan-euro settlement system to cut costs
The European Central Bank said Tuesday 16 January it believes the implementation of an integrated securities settlement system in the euro zone could cut settlement costs by up to 90%.
ECB's Tumpel-Gugerell at the Euro conference
In a panel intervention at the Euro conference hosted by Banka Slovenije given on 15 January Gertrude Tumpel-Gugerell of the ECB said now that it has adopted the euro, Slovenia needs to adapt to the absence of an independent monetary and exchange rate…
ECB's Trichet at € conference Slovenia
In his keynote address at the "€ conference Slovenia" given on 15 January Jean-Claude Trichet of the ECB said Slovenia will enjoy the general benefits of participation in the single currency area, such as no exchange rate risks with respect to its most…