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Monetary Policy
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
State Visit: Klaus Received by Fischer
Today, the Czech President Vaclav Klaus has met his Austrian counterpart Heinz Fischer in Vienna. The commonalities are rather small.
November 13, 2012
Czech Republic Does not Leave Recession Behind
The country does not only stay in a recession, the situation worsens further, economists say.
November 13, 2012
Polish National Bank Cuts Interest Rate
In order to support economic growth, NBP decided to ease its monetary policy.
November 8, 2012
Nowotny: More Power for Big Countries
The governor of Austrian National Bank OeNB Ewald Nowotny proposes to amend the voting rights at ECB.
November 7, 2012
Romania: Joining Eurozone Will Take up to 30 Years
Economists think that Romania´s economy is far from being ready for the euro. The convergence process may take decades.
November 7, 2012
Poland: Lending Criteria to Tighten
According to the Polish National Bank (NBP), banks will tighten lending conditions further. NBP wants to support economic growth, but has to prevent a credit bubble.
November 6, 2012
Romania: Joining Eurozone is „Not for Sure”
Romania´s Prime Minister Victor Ponta expressed his concerns about introducing the euro in Romania.
November 5, 2012
IHS: Collapse of Eurozone would Cost 157,000 Jobs
The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.
November 5, 2012
CNB: Interest Rate at Historical Low
Today, the Czech National Bank (CNB) decided to cut the interest rate to 0.05%. Now, foreign exchange interventions are the only tool for CNB.
November 2, 2012
Czech Household Debt on the Rise
Against 2011, Czech household debt was up by 4.2%. At the end of September, the level of debt of Czech households to banks reached € 45.8bn.
October 31, 2012
Hungary Cuts Interest Rates Again
The Council of Hungarian National Bank, which is dominated by representatives of the Hungarian government decided to cut the base rate from 6.50% to 6.25%.
October 31, 2012
„Banking Union Weakens Central Banks“
The Czech President Vaclav Klaus criticizes that a common banking supervision limits the competencies of national central banks.
October 30, 2012
Austrian Managers Lose Confidence in EU
Only a third of the Austrian managers believes that the problem in the Eurozone can be solved.
October 29, 2012
Nowotny: Greek Haircut for ECB “No Issue”
The governor of Austria´s National Bank (OeNB) Ewald Nowotny thinks that ECB would not participate in a haircut.
October 29, 2012
Tusk: Joining Banking Union Only if it Does not Weaken Poland
The Polish Prime Minister does not exclude to enter the banking union. However, this measure must not weaken Poland´s position.
October 22, 2012
Polish Government: Austerity in Order to Enter Eurozone
The Polish Minister of Foreign Affairs Radoslaw Sikorski says that Poland will fulfill the Maastricht Criteria in 2015.
October 19, 2012
Hungary Reaffirms Not to Enter Eurozone
After the meeting with Germany´s Chancellor Angela Merkel, Hungary´s Prime Minister Viktor Orban explained that the euro must offer a perspective again.
October 16, 2012
Czech National Bank Open for Interventions
At the moment, the Czech National Bank (CNB) sees no reason for weakening the exchange rate of the Czech Crown. However, CNB is ready to start interventions if necessary.
October 12, 2012
Orban Rejects Joining Eurozone
The Hungarian Prime Minister Viktor Orban thinks that the introduction of the euro in Hungary would be “irresponsible”.
October 10, 2012
Fekter Welcomes Entry into Force of ESM
Austria´s Minister of Finance "No cause for celebration, however, as we are still in the middle of stabilising the Eurozone."
October 10, 2012
Serbia´s National Bank Fights Against Inflation
Today, the Serbian National Bank raised the base rate from 10.50% to 10.75%. IMF has lowered the economic outlook for Serbia.
October 9, 2012
Belarus Has Lost an Important Source of Export Revenues
The economic prospects for the Belorussian economy are bad. The ruble will have to devalue. External support will be necessary, the Centre for Eastern Studies says.
October 5, 2012
Poland´s National Bank Holds Interest Rate
After analysts expected that the Polish NBP cut the interest rate, the decision to hold the rate at 4.75% came as a surprise.
October 4, 2012
Poland: Interest Cut Expected
The Polish National Bank NBP is anticipated to announce a cut in the base rate. At the moment, the base rate stands at 4.75%.
October 2, 2012
Klaus: Exit Will Not Destroy Eurozone
The Czech President Vaclav Klaus says that a reduction of the member states will not destroy the Eurozone.
September 27, 2012
Czech National Bank Expects More Interest Rate Cuts
The governor of the Czech National Bank Miroslav Singer explained that the monetary easing program will continue.
September 27, 2012
Hungary: Simor Criticizes Interest Cut
The governor of Hungary´s National Bank Andras Simor warns of an increase in inflation.
September 26, 2012
Latvian Government Intends to Join the Eurozone in 2014
Despite the skeptical citizens of Latvia and the crisis in the Eurozone, the Latvian government wants to introduce the euro in 2014.
September 26, 2012
Poland: Joining Eurozone After Crisis
For the governor of the National Bank of Poland Marek Belka, entering the Eurozone is conceivable as soon as the Eurozone has recovered.
September 25, 2012
Austrian Elections 2013: Stronach Confirms Candidacy
This week, the former CEO of Magna Frank Stronach will present the program of his party. The name of the party is not fixed yet.
September 25, 2012
Latvia: Introduction of the Euro Wobbles
The majority of the Latvians are against joining the Eurozone. The Latvian government is under pressure.
September 22, 2012
Poland´s Central Bank Retains Interest Rate
The Polish Monetary Policy Council held the base rate flat. Before, an interest rate cut of 50 bps or 25 bps were discussed.
September 22, 2012
Westerwelle and Sikorski Want a Stronger EU
The German and the Polish Ministers of Foreign Affairs wrote a common article in The International Herald Tribune.
September 19, 2012
Latvia: Fit for the Eurozone
According to Latvia´s Central Bank, the country will fulfill the Maastricht criteria by the end of the year.
September 18, 2012
Implementation of Banking Union to be Postponed
Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.
September 17, 2012
Hungarian Central Bank Call for Growth Stimulating Measures
In August, the Hungarian Central Bank cut the base rate by 0.25 percentage points. According to the Council, growth should be supported.
September 15, 2012
Nowotny: Not Overcharging ECB
Ewald Nowotny, governor of Austrian Central Bank (OeNB) argues that ECB should not control all banks.
September 13, 2012
Banking Union: Poland Demonstrates Skepticism
Yesterday, the EU-Commission has made proposals regarding the banking union. The decision making process for non-Eurozone members would be unclear.
September 13, 2012
Orban to Visit Germany
In October, Hungary´s Prime Minister will be on an official state visit in Berlin in October.
September 12, 2012
Kapsch Against Excluding Greece
The President of the Federation of Austrian Industries (IV) thinks that the Austrian pension system shows a substantial savings potential.
September 10, 2012
Nowotny Hopes for ESM
The governor of OeNB (Austrian Central Bank) thinks that the bond purchases are not sufficient. Politics must help ECB, he argues.
September 10, 2012
Merkel and Faymann Reaffirm their Commitment to the Euro
The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.
September 8, 2012
Polish Central Bank Retains Interest Rate
NBP (National Bank of Poland) kept the base rate at 4.75%. In the last weeks, a cut was discussed.
September 7, 2012
Austrian Government and National Bank Against Return to Shillling
Federal Chancellor Werner Faymann and Governor Ewald Nowotny oppose to the idea of returning to Austria´s former currency.
September 1, 2012
Poland´s Central Bank Dissatisfied with GDP Growth
In the second quarter, Poland grew by 2.4% instead of 3.0%. The Polish Central Bank does not want to postpone quantitative easing measures any longer.
September 1, 2012
FPÖ Wants Nowotny to Resign
The biggest Austrian opposition party criticizes the governor of Austrian Central Bank (OeNB) sharply. FPÖ´s leader Strache blames Nowotny to violate the “no bailout” clause.
September 1, 2012
Debt Crisis: “Somebody Will Have to Pay”
European Forum Alpbach 2012: Andreas Treichl, CEO of Erste Group thinks that the internationalization of the banking industry cannot be reversed. According to Treichl, the European citizens will have to pay for the crisis.
August 30, 2012