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Monetary Policy


Poland to Fulfill Convergence Criteria Gradually

Governor of NBP (National Bank of Poland) Marek Belka argues that the country will not meet all the Maastricht Criteria simultaneously.
January 31, 2013


ECB Extends Co-Operation with National Bank of Serbia

Today, the European Central Bank (ECB) decided to extend the two-year central bank cooperation programme with the National Bank of Serbia (NBS).
January 31, 2013


„Whatever Happens to the Euro, Happens to Our Currency“

In an interview with the Austrian daily newspaper “Kurier”, Latvia´s Prime Minister Valdis Dombrovskis explains why Latvia joins the Eurozone. However, the Latvians are not convinced at all.
January 30, 2013


National Bank of Serbia Fights Against Inflation

The asset quality in the banking sector shows first signs of stabilization, Raiffeisen Research reports.
January 30, 2013


Hungarian National Bank Cuts Interest Rate Again

At its meeting on 29 January 2013, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 5.75% to 5.50%, with effect from 30 January 2013.
January 30, 2013


Komorowski: Poland Should Join Eurozone in 2015

Poland´s President Bronislaw Komorowski said that the country should decide whether to introduce the euro in 2015.
January 23, 2013


Erste Group´s CEO Wants to Create CESEE Stock Exchange

Andreas Treichl, CEO of the Austrian banking group, would like to create an alliance between CEE Stock Exchange Group (CEESEG) and Warsaw Stock Exchange (WSE).
January 23, 2013


Poland: Lower Growth Forecasts

The slowdown of the Polish economy continues. The government is becoming impatient.
January 22, 2013


Rostowski Calls for Further Interest Cuts

Polish minister of finance Jacek Rostowski wants NBP (Polish National Bank) to lower the base rate further.
January 21, 2013


Czech Republic: Both Presidential Candidates Want to Join Eurozone

Unlike the outgoing President of the Czech Republic Vaclav Klaus, Milos Zeman and Karel Schwarzenberg are in favor of the euro.
January 19, 2013


Serbia: Key Policy Rate Raised to 11.50 Percent

At its meeting today, the Executive Board of the National Bank of Serbia voted to raise the key policy rate by 0.25 percentage points to 11.50 percent.
January 18, 2013


Euro Exchange Rate: Nowotny Contradicts to Juncker

According to Eurogroup-chief Jean-Claude Juncker, the exchange rate of the euro is “dangerously high”. Nowotny disagrees with Juncker.
January 16, 2013


Euro Introduction: Latvian Government Hopes for Public Support

According to Latvia´s minister of Finance Andris Vilks, at least 50% of Latvian citizens should approve the euro introduction next year.
January 16, 2013


Nowotny: “The Worst Is Over”

OeNB´s (Austrian National Bank) governor Ewald Nowotny thinks that the economic situation in the Eurozone has become more stable.
January 16, 2013


NBP Expects Further Slowdown

Poland´s National Bank (NBP) forecasts an economic growth rate of 1.5% in 2013.
January 14, 2013


Bulgaria Continues Expansive Monetary Policy

In November money supply measured by means of the aggregate M3 returned to a more accelerated growth: 10.1% on an annual basis, Raiffeisen Research states.
January 14, 2013


Rostowski Wants Further Interest Cuts

Poland´s Minister of Finance calls NBP (Polish National Bank) to continue the expansive monetary policy
January 11, 2013


Belka: “We are at the Bottom of the Crisis”

Governor of NBP (Polish National Bank) Marek Belka expects a soon economic recovery.
January 10, 2013


Fekter: „We Almost Overcame the Crisis“

Austria´s minister of finance stresses the stability of the euro and points out that the economic crisis could be managed.
January 10, 2013


First Signs of Economic Recovery

Liquidity is driving the markets, global monetary policy remains heavily expansive. Muted growth outlook for CEE.
January 10, 2013


Poland: NBP Cuts Interest Rate Again

Poland´s National Bank has decided to lower the base rate for the third time in a row.
January 10, 2013


NBP Plans Further Interest Rate Cuts

Further interest cuts are likely, NBP´s governor Marek Belka told FT in an interview.
January 8, 2013


Rostowski Initiates Debate on Eurozone Accession

Poland´s Minister of Finance Jacek Rostowski wants to define a criteria catalogue for Poland in order to create the accession “safe and advantageous”.
January 7, 2013


Outlook: Europe Remains Under Threat

The European debt crisis will remain a major issue, Austrian Erste Group says.
December 28, 2012


Ukraine: Gold Reserves Gain in Importance

The share of monetary gold in Ukraine’s international reserves has almost doubled.
December 28, 2012


Czech Republic Does Not Fulfill Maastricht Criteria

At the moment, joining the eurozone is no issue for the Czech Republic. The stability criteria are still not fulfilled anyway.
December 28, 2012


Bulgaria: Lending Grows Substantially

In November 2012, the annual growth rate of broad money (monetary aggregate M3) was 10.1% compared to 8.6% in October 2012.
December 28, 2012


Lithuania: Budget Finally Approved

Lithuania´s President Dalia Grybauskaite confirmed the 2013 budget.
December 28, 2012


Czech Republic: Euro Introduction No Issue Yet

The Czech Prime Minister Petr Necas explained that the Czech Republic does not strive for becoming a member of the Eurozone.
December 21, 2012


Poland: Recovery in Mid-2013

Poland´s new Deputy Prime Minister Janusz Piechocinski forecasts an upward trend beginning in the second half of next year.
December 20, 2012


Czech Republic: Interest Rate Remains Unchanged

The council of CNB (Czech National Bank) decided to let the interest rate at 0.05%.
December 19, 2012


Poland and Hungary to Cut Interest Rates Further

Unlike the Czech Republic, Poland and Hungary still have some downward potential. The inflation rate is still below the base rate.
December 19, 2012


Komorowski: “Poland Needs Euro”

Poland´s President Bronislaw Komorowski wants his country to join the Eurozone. Now, the government has to convince the people, he says.
December 19, 2012


Rostowski: “Poland Will Enter Eurozone as soon as Possible”

Poland´s Minister of Finance Jacek Rostowski announced that his country wants to become a member of the Eurozone. However, the problems of the Eurozone must be solved before, he said.
December 18, 2012


“Risks to Financial Stability Remain High”

The European sovereign debt crisis continues to impact international financial markets. Despite the stabilizing effect of monetary and financial policy measures the risks to financial stability remain at a high level, OeNB says.
December 14, 2012


CEE Countries May Join Banking Union

ECB will become the main supervisor for the Eurozone´s banking industry. Non-Eurozone member countries are entitled to opt-in.
December 13, 2012


Euro Introduction: Latvians Still Skeptical

The Latvian government aims to introduce the common currency in 2014. The Latvian Budget and Finance Committee approved the introduction.
December 13, 2012


WIFO: South Europe Needs Change in Strategy

The Austrian Institute of Economic Research (WIFO) underlines that the austerity policy in South European countries did not help at all.
December 12, 2012


„Eurobonds Are No Solution“

Latvia´s Prime Minister Valdis Dombrovskis argues that euro-bonds may be implemented at the end of the convergence process.
December 11, 2012


Ukraine Faces Recession

For the first time since 2009, Ukraine recorded a negative growth rate last quarter. Weak exports and a shrinking industrial sector are the most pressing issues.
December 8, 2012


Belka: “Poland Is Free of Economic Imbalances”

The governor of the Polish National Bank (NBP) admits that the economic slowdown is substantial, but no fundamental problem.
December 6, 2012


Poland: Another Rate Cut Expected

The Polish National Bank (NBP) will lower the interest rate one more time this year, analysts say.
December 4, 2012


Hungary Considers Reducing Foreign Exchange Reserves

In order to repay loans, the Hungarian government is said to reduce the foreign exchange reserves of MNB (Hungarian National Bank). The government does not need to fear resistance by MNB.
December 1, 2012


Inflation in Ukraine Remains at Zero Level

“Effective management of the financial sector allows Ukrainian authorities to hold inflation.” NBU (National Bank of Ukraine) states.
November 30, 2012


Ukraine: “Stability of Currency Not Endangered”

Ukrainian businessmen are confident in the stability of hryvnia, the Ukrainian National Bank says.
November 28, 2012


Romanian Central Bank on Hold

Romania´s Central bank remained on hold at its most recent monetary policy meeting on 2 November, keeping the monetary policy rate unchanged at 5.25%.
November 27, 2012


Ukrainian National Bank Under Pressure

In order to support its own currency, the foreign exchange reserves of NBU (Ukrainian National Bank) were down substantially.
November 24, 2012


Conference on European Economic Integration

Bank of Finland and Oesterreichische Nationalbank to organise a Conference on European Economic Integration in Helsinki.
November 23, 2012


CNB: „Czech Republic Does Not Need Quantative Easing“

The Czech National Bank underlines that the country´s economy is fundamentally stable. The current situation would be managable.
November 20, 2012


Hungary: Public Debt Level Declines

Due to the favorable currency development, the public debt level fell slightly.
November 20, 2012