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Monetary Policy

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

Ukrainian National Bank Stresses Stability of National Currency

The National Bank of Ukraine was able to ensure hryvnia stability – by results of the expert meeting. Inflation could be kept at 0.00% in the first nine months of 2012.

November 20, 2012

Belka: Polish Economy Will Recover In 2013

The governor of the Polish National Bank (NBP) Marek Belka demonstrates optimism.

November 17, 2012

NBP: Further Interest Cuts Likely

The Polish National Bank may reduce the base rate further. Poland´s economy is expected to slow down next year.

November 15, 2012

„Greece Has No Future in Eurozone“

The Czech President Klaus thinks that the Eurozone could bear a Greek exit without any problems.

November 15, 2012