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Monetary Policy
EU Demands € 55bn for Banking Union
The Finance Ministers of the European Union are still negotiating about a mechanism aimed at preventing states from having to take over financial difficulties from banks, the banking union.
December 9, 2013
Wifo: Austrian Economic Growth Still Sluggish
Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.
December 9, 2013
Austria: Oppositional FPÖ Wants Return to Shilling
The largest Austrian opposition party wants to leave the Eurozone.
December 7, 2013
Moody's: ECB Rate Cut Does Little for Economic Growth
ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.
December 5, 2013
ECB: Debates about Further Measures in Monetary Policy
Today the 23 member of the European Central Bank’s Council have initiated debates about the the stance of monetary policy. The base rate, lowered to 0.25 percent last month, is expected to remain unchanged.
December 5, 2013
Poland: Benchmark Rate Remains Unchanged
The Polish National Bank (NBP) holds the reference rate at its record low of 2.5%.
December 4, 2013
UniCredit: Withdrawal from Hungary as Potential Option
UniCredit does not completely rule out a withdrawal from the Hungarian market in case further burdens will be imposed on banking institutes.
December 4, 2013
Austria: Bawag to Pay back Participation Capital
The Austrian Bawag announced its plans about paying back a further tranche of the state capital participation.
December 2, 2013
Hungary: Matolcsy Demands Resignation of EU Commissioner
György Matolcsy, Governor of the Hungarian National Bank (MNB), demands a better rating for Hungary and the resignation of EU Commissioner Olli Rehn.
December 2, 2013
PwC: Turbulent Years for Banks
According to a study by PricewaterhouseCoopers (PwC) the core capital of European banks need to be increased significantly.
November 28, 2013
ECB Considers Restricting Credits
The ECB takes the option of restricting banking to industrial enterprises only into consideration.
November 27, 2013
Croatia: HNB Pushes Credits
According to reports by Reuters, the Croatian National Bank (HNB) intends to issue HRK 4bn (US-$ 707m) to support credits. Further details will be published by the Central Bank later this week.
November 27, 2013
Hungary: Monetary Policy Eases Further
Today, Hungary´s National Bank (MNB) has cut the two-week deposit rate to 3.2% from 3.4%. The government is optimistic that the monetary easing will help Hungary´s economy.
November 26, 2013
Poland: IMF Corrects Growth Forecast Upward
Growth forecasts for next year were increased by 0.3 percent by IMF.
November 25, 2013
Czech Demand for Housing Loans Still Grows
While demand for consumer loans was down, demand for housing loans is still on the rise. In total, loan growth decelerates.
November 23, 2013
Czech Republic: CNB Facing Investigations
Czech Senator Dryml ordered the head of counter-intelligence service (BIS) Jiri Lang to initiate investigations against the Czech National Bank (CNB).
November 22, 2013
Hungary: Further Cuts to Come
György Matolcsy, governor of the Hungarian National Bank MNB, stresses that there is room for further base rate cuts.
November 21, 2013
Czech National Bank Not Intending Further Forex Interventions
According to Miroslav Singer, governor of the Czech National Bank, the authority is not planning on taking further measures at the forex market to weaken the Czech Crown (CZK).
November 21, 2013
Romania: Banks Keep Risk Margins Unchanged
In spite of the recent cut in the key rate to an all-time low of four percent the financial institutes will not loosen risk policies.
November 19, 2013
OECD: Restructuring of Banks Required
The Organization for Economic Cooperation and Development (OECD) calls for a fast progress in the establishing of a banking union in the Eurozone and restructuring of the banking sector to boost economic growth.
November 19, 2013
Nowotny: Economic Recovery not as Strong as Expected
According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), indicators point toward a slow recovery in the next quarters.
November 18, 2013
Hungary: Level of Credit Defaults Declining Significantly
According to OTP Bank, the level of credit defaults from borrowers has started to drop to the lowest level since the beginning of the financial and economic crisis.
November 15, 2013
ECB Still Has Further Tools
In spite of the most recent cut of the key rate by the European Central Bank (ECB) there is still some leeway downward. However, measures will affect the exchange rate of the common currency.
November 13, 2013
Czech Republic: CNB Concerned about Private Households
In regard to the most recent forex intervention, the Czech National Bank (CNB) has expressed concern about private households, which would be affected for a longer period since savings as well as income will drop.
November 13, 2013
IMF Puts Pressure on Croatia
Although Croatia´s economic situation will improve slightly next year, the country is seen as next bail-out candidate. The International Monetary Fund wants Croatia to accelerate economic reforms.
November 12, 2013
Czech President Sceptical about CNB’s Forex Intervention
Czech President Zeman expressed his reservations about the Central Bank’s latest forex interventions.
November 12, 2013
Austria: Nowotny Rejects Mood of Opposition against ECB
Ewald Nowotny, governor of OeNB, rejects the idea of having been part of a protest group against the European Central Bank’s (ECB) most recent monetary measures by cutting the key rate to an all-time low.
November 12, 2013
Nowotny Against ECB’s Key Rate Cut
The governor of the Austrian National Bank has, according to reports, voted against the ECB’s most recent interventions.
November 11, 2013
Romanian Inflation Forecast Adjusted by NBR
The National Bank of Romania (NBR) has adjusted the inflation forecast downward for 2013 and 2014.
November 11, 2013
Czech Republic: CNB to Intervene in Forex Market
After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.
November 11, 2013
Czech National Bank Starts Currency Interventions
In order to stop the recession in the Czech Republic, CNB eases monetary policy further.
November 8, 2013
Interest Rate Cut: “Very Effective Property Tax“
Economists have judged the ECB’s cut in interest rate differently. According to Brezinschek, chief analyst at Raiffeisen International, savers that are not involved in speculative investments will not benefit from the latest key rate cut.
November 8, 2013
Serbia: Key Policy Rate Cut to 10 Percent
In its meeting on November 7, the NBS Executive Board voted to cut the key policy rate by half a percentage point, to 10 percent.
November 8, 2013
Czech Republic: Economic Outlook Improves
In its latest forecast, the Czech National Bank (CNB) has corrected the outlook on the Czech economy upward for the rest of 2013 while estimates for 2014 were slightly downgraded.
November 8, 2013
Eurozone: Key Rate At Record Low
Low inflation was reason for ECB to lower key rate again by 0.25 percent.
November 7, 2013
Austrian Banks Forced to Prepare in Case of Bankruptcy
From 2014 on, the Austrian Banks are required to start planning the emergency scenario in case of a liquidation in order to be able and react more quickly.
November 7, 2013
ECB to Keep Interest Rate Low
Despite a low inflation, the European Central Bank (ECB) will keep the interest rate low. The Council of ECB has held a meeting on Thursday morning
November 7, 2013
Poland´s National Bank Holds Interest Rate Flat
In order to boost economic growth, the Polish Monetary Policy Council has left the interest rate unchanged.
November 6, 2013
Romania: Key Rate Cut Again
The most recent cut was the fourth in a row since the beginning of July. Experts forecast the rate cutting cycle to stop in the first quarter next year when the country’s key rate is supposed to stand at 3.5 percent.
November 6, 2013
Slovenia: Banking Act Rejected by Parliament
The Slovenian parliament has disapproved of the banking act which planned to introduce bail-in rules throughout the European Union.
November 6, 2013
Bulgaria: Banks Have More Assets at Disposal
With more money available, banks in Bulgaria are now able to grant more loans.
November 6, 2013
Analysis - Vienna Stock Exchange on a “Sustainable Upward Trend”
After five downhill years, the Vienna Stock Exchange is finally seeing something like a silver lining.
October 30, 2013 · Updated: November 5, 2013; 18:00
Bawag Investor Cerberus to Leave?
Rumors have it that US fund Cerberus will sell his share in Austrian bank Bawag. According to head of Bawag, Byron Haynes, a selling process has not yet begun.
October 31, 2013 · Updated: November 5, 2013; 17:30
CESEE Region: Booming Exports Prevent Recession
The underlying reason for the improving economic sentiment in the CESEE region is the expanding industrial sector. However, the region remains vulnerable to foreign trade and foreign investments.
November 5, 2013
Serbia: FDI as Driver for Economy
Further decline in FDI could affect economic growth in the Western Balkan state. The Serbian government announced to push forward with amendmends to improve business environment and boost economic growth.
November 4, 2013
Austria: Liquidation No Option for Hypo Group
Nationalized-by force Hypo Group Alpe Adria, which is struggling under liabilities running in the billions, will not be closed. OeNB rejects rumors about establishing a bad bank
November 4, 2013
Industrial Sector: Growth Painfully Slow
According to a survey by research institute Markit, industrial production in the Eurozone increased in October for the fourth time in a row. However, the rate of growth is still low.
November 4, 2013
Slovenia: Parliament Approves Amendmends to Banking Act
Measures were taken to reduce costs for winding up of two small Slovenian banks.
October 30, 2013
Erste Group Expects Operating Result to Decline Significantly in 2013
Erste Group posts net profit of EUR 430.3 million in the first nine months of 2013; risk costs decline.
October 30, 2013
Czech Republic: Monetary Easening Not an Option for CNB
Improper exit policy could cause currency swings or inflation, according to expert.
October 29, 2013
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