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Monetary Policy
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
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
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