Eurozone
ECB announces distribution of responsibilities
Within the framework of its collective responsibility for the overall functioning of the business areas of the European Central Bank, the Executive Board of the ECB agreed Thursday 1 June on a distribution of responsibilities among its members, with…
Which news moves the euro area bond market?
This ECB Working Paper explores a long dataset (1999-2005) of intraday prices on German long-term bond futures and examines market responses to major macroeconomic announcements and ECB monetary policy releases.
Comment: Replacing Issing
Pressure is mounting on the ECB to finalise the reshuffle of its executive board, necessitated by the departure of its chief economist and head of research, Otmar Issing, this week. The absence of any official announcements on the matter is leading to…
ECB's Wellink says ECB should raise rates
European Central Bank council member Nout Wellink said in an interview that interest rates need to be increased because of rising inflation expectations.
ECB paper on catching-up member states
The ECB Working Paper "Implications of monetary union for catching-up member states," published May 2006, examines the implications of monetary union for macroeconomic stabilisation in catching up participating countries.
ECB's Issing warns against EMU 'tensions'
European Central Bank chief economist Otmar Issing is warning against "tensions" in the European monetary union, according to an interview published in Handelsblatt on Monday 29 May.
ECB's Papademos on globalisation, inflation
In the speech 'Globalisation, inflation, imbalances and monetary policy' given on 25 May Lucas Papademos of the ECB said that globalisation had helped contain prices in the past, but the risks to inflation were now rising due to buoyant world growth.
ECB paper on foreign reserves management
The ECB Working Paper "Foreign reserves management subject to a policy objective," published May 2006, studies the implications of introducing an explicit policy objective to the management of foreign reserves at a central bank.
Stark appointed to ECB, Zeitler joins Buba
Jurgen Stark, vice-president of the Bundesbank, has been formally appointed to the European Central Bank's executive board, European Union officials announced Tuesday 23 May, according to the FT.
ECB's Issing on globalisation, emu and the euro
In the speech "Globalisation, emu and the euro" given on 22 May Otmar Issing of the ECB said reductions in fiscal deficits by eurozone countries actually boost growth in those economies, rather than weighing on economic activity.
Mersch says ECB will have to lift rates further
European Central Bank Governing Council member Yves Mersch said in an interview that eurozone interest rates will need to keep rising because of increased risks to price stability but that there was no fixed schedule.
ECB's Trichet on structural reforms in Europe
In the speech 'Structural reforms in Europe' given on 22 May Jean-Claude Trichet of the ECB said the European Union is undergoing an important process of reforms of its socio-economic model so as to adapt it to future challenges.
ECB wants action on reform agenda - Trichet
European Central Bank president Jean-Claude Trichet on Monday 22 May called on the EU to implement its structural reform programme which has been revamped.
ECB's Target Annual Report 2005
The European Central Bank (ECB) published the TARGET Annual Report 2005 on Friday 19 May. This publication, which is the sixth of its kind, gives an overview of TARGET operations in 2005.
Liebscher says ECB worried on inflation
Austrian national bank governor Klaus Liebscher told reporters Friday 19 May that the European Central Bank is worried about risks to the eurozone's inflation outlook.
EU parliament backs Stark for ECB
MEPs approved the appointment of Jurgen Stark to the Executive Board of the European Central Bank in a vote on Wednesday 17 May.
Enforcement and the stability and growth pact
The IMF Working Paper "Enforcement and the stability and growth pact: How fiscal policy did and did not change under Europe's fiscal framework" published May 2006, says that the Stability and Growth Pact has been a success in numerous EU countries,…
ECB Convergence Report May 2006
The European Central Bank (ECB) on Tuesday 16 May published a Convergence Report which has been prepared following requests for a country examination from Slovenia on 2 March 2006 and Lithuania on 16 March 2006.
ECB not worried by dollar weakness says Liebscher
The European Central Bank is unperturbed by the dollar's current weakness and may still proceed with an interest rate increase next month, Austrian central bank chief Klaus Liebscher said in a newspaper interview published Tuesday 16 May.
EU vetoes Lithuanian euro entry, endorses Slovenia
This article published Tuesday 16 May reports news that the European Union has turned down Lithuania's bid to adopt the euro, the first time a nation has been rejected since the common currency's creation in 1999. However, Slovenia has got the nod of…
Weber on oil price shocks and monetary policy
In the speech 'Oil price shocks and monetary policy in the euro area' given on 11 May Axel Weber of the Deutsche Bundesbank said the inflationary risks connected with runaway record oil prices are likely to increase as the economic recovery in the…
ECB's Trichet on two successes of the euro
In the speech 'Two successes of the euro: the single monetary policy and European financial integration' given on 11 May Jean-Claude Trichet of the ECB said that the central bank is on high alert over inflationary dangers, is exercising "strong vigilance…
How bold a move from the ECB?
According to this article published Friday 12 May, a rate increase at the European Central Bank's upcoming meeting is almost certain, with estimates ranging between 25 and 50 basis points.
Euro critical when Issing goes missing?
Sunday 14 May's Frankfurter Allgemeine Sonntagszeitung contained a portrait of ECB chief economist Otmar Issing under the headline "The preacher". Without Issing the euro could weaken considerably, it said.