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Monetary Policy

Serbian Government Tries Act of Liberation

Serbia´s economy weakens, the outlook is negative. Even a bankruptcy is not excluded anymore.

August 29, 2012

Investment in Czech Republic Still Below Pre-Crisis Level

The global financial crisis, which originated in the USA in 2007 also hit the Czech Republic quite hard despite the fact that neither its internal nor external imbalances were excessive, the Czech Central bank stated.

August 24, 2012

Exclusion from the Eurozone: Westerwelle Supports Spindelegger

The German Minister of Foreign Affairs Guido Westerwelle thinks that a breach of contract should lead to the exclusion from the Eurozone.

August 22, 2012

Grexit: Aiginger Warns of Shock in the Balkan Region

Wifo´s (Austrian Institute of Economic Research) director Karl Aiginger thinks that a Greek exit would not only cause big problems for Greece itself, but for the whole Balkan region.

August 21, 2012

Does the Euro Collapse Now? (Part 2)

The nervousness among Europe´s leaders is growing. Not only Finland warns of a breakdown.

August 18, 2012

Does the Euro Collapse Now? (Part 1)

The nervousness among Europe´s leaders is growing. Not only Finland warns of a breakdown.

August 17, 2012

Serbia: Struggle for Central Bank Sharpens

After the resignation of governor Dejan Soskic, the EU warns Serbia of abolishing the independence of the Serbian Central Bank.

August 6, 2012

Budget Crisis: Serbia to Reduce Foreign Exchange Reserves

In order to mend Serbia´s budget hole, the government plans to amend the Central Bank law.

August 2, 2012

Nowotny Wants Bank License for ESM

The governor of OeNB (Austrian Central Bank) Ewald Nowotny told the news agency Bloomberg that there would be some good reasons for this solution.

July 26, 2012

Bulgaria Aims to Join Eurozone

Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.

July 16, 2012

Poland Not to Enter the Eurozone Soon

For the time being, Poland will keep the Zloty. After the Eurozone has managed the current crisis, an accession is conceivable, Foreign Minister Radoslaw Sikorski says.

July 14, 2012

Banking Supervision: Nowotny Warns of Botch

The governor of the Austrian Central Bank (OeNB) thinks that the timeline fort he planned unified banking supervision authority is „very short“.

July 10, 2012

Nowotny on Greece: „We Do Not Have Unlimited Time“

Ewald Nowotny, the governor of OeNB (Austrian Central Bank) is concerned about the Greek austerity program.

July 9, 2012

ESM Approved by Austrian Parliament

The controversial European Stability Mechanism was ratified by the Austrian National Council. The right opposition parties criticized the approval massively.

July 6, 2012

„ECB as Only Supervisor Not Likely“

OeNB`s (Austrian Central Bank) Governor Ewald Nowotny does not think that ECB will act as only banking supervision authority.

July 2, 2012

Euro-Crisis Continues

According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.

June 29, 2012

WIFO Wants Unlimited Firewall

According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.

June 28, 2012

Survival of the Euro Questionable

Regarding the future of the common currency, the Austrian economist Fritz Breuss is highly skeptical.

June 26, 2012

„The end of the Euro would mean Europe´s Explosion“

Ewald Nowotny, governor of the Austrian Central Bank (OeNB) reaffirms that Europe needs the Euro.

June 25, 2012

Treichl: „Europe Does Not Need the Euro“

Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.

June 25, 2012

Nowotny: „Bank Aids Rescue Economy“

The governor of the Austrian Central Bank OeNB underlines the necessity of the bail-out of Spanish banks.

June 23, 2012

Controversy About Nowotny

Ewald Nowotny, the governor Austrian Central Bank (OeNB) argued that the austerity policy in the 1930s caused the rise of the Nazi regime. A wave of indignation emerged.

June 21, 2012

Government Battles for OeNB´s Reorder

The reorder of the supervisory board and the management board at the Austrian Central Bank( OeNB) was brought forward. Now, a dispute between the coalition parties arose.

June 2, 2012

OeNB Reacts to EU-Commission´s Critique

The EU Commission warned Austria of the big lending exposure in Eastern Europe. According to the Austrian Central Bank, the CESEE region must be seen differantiated.

May 31, 2012

The Euro - A Big Error (Part 4)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 31, 2012

Nowotny: „Keeping Greece in Eurozone Has Highest Priority“

The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny thinks that ECB does not plan a new bond purchase program.

May 29, 2012

The Euro - A Big Error (Part 3)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 29, 2012

The Euro – A Big Error (Part 2)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 23, 2012

The Euro – A Big Error (Part 1)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 20, 2012

As Recession Grips its Neighbors, Austria May Escape the Carnage

The world’s economic focus continues to be Europe and whether its widening list of travails will once again derail the global recovery, as it did a year ago at this time.

May 8, 2012

Nowotny: “ECB Uses Bond-Buying Program Extremely Cautiously”

The governor of Austrian Central Bank (OeNB) Ewald Nowotny said the bank only buys government bonds in certain situations and with “extreme” caution.

April 21, 2012

Lending Behavior of Banks Remains Stable

The credit policy of Austrian banks remained stable for the third year running in the first quarter of 2011 and it is also expected to remain unchanged in the second quarter of 2011.

April 28, 2011

Tightening of Credit Policy Expected

The new Basel III rules will result in a tightening in lending, especially for small and medium-sized enterprises.

February 25, 2011

Increase of Inflation Forecast

The Austrian Institute of Advanced Studies (IHS) increases its inflation expectations to 2.4% due to the increase in energy prices

February 24, 2011

ECB: Praet Succeeds Tumpel-Gugerell

The Belgian Peter Praet succeeds the Austrian Gertrude Tumpel-Gugerell as new member of the Executive Board of the ECB (European Central Bank).

February 15, 2011

Unmodified Lending Policy of Austrian Banks

Austrian banks did not change their lending policy in the fourth quarter of 2010, no modifications are expected for the current quarter either.

January 28, 2011

Austrian Inflation to be well above 2% in 2011

Temporary price-drivers of fuels, commodities as well as the budget consolidation spurring inflation on, but lack of cyclical inflationary pressures.

January 27, 2011

EU: New Early Warning System Against Financial Market Risks

Two Austrian officials point out the relevance of the new institution, which will particularly benefit Austria.

January 21, 2011

Lending Rates of Domestic Banks Significantly Lower Than in the Euro Area

The lending interest rates for private households and businesses have risen recently. But despite this, rates are more advantageous than in other euro-countries.

November 23, 2010

Bankruptcy wave in Eastern Europe

In 2009 Eastern Europe registered 44 380 company failures, which accounts for over 44 percent more bankruptcy cases than in 2008. In Western Europe, the increase was 18.6 percent, Austria performed well with 9.3 percent.

August 20, 2010
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