The European Central Bank is watching currency markets very closely, Vice President Lucas Papademos said in comments released on Tuesday.
The European Central Bank lent euro zone banks an extra 15 billion euros on Thursday to tide them over the Easter holiday period, although banks bid for four times as much.
Euro zone services growth staged a partial comeback in February, in line with an earlier estimate, though a sharp divide in growth rates within the bloc poses a problem for the European Central Bank.
Euro zone economic growth is expected to slow to 1.8 percent this year from 2.7 percent in 2007, while inflation should stay well above the European Central Bank target, the European Commission said on Thursday.
When central bankers speak, markets listen. That's why we're all waiting for Fed Chairman Ben Bernanke's comments on the economy at 1 p.m. today. But it looks like European Central Bank President Jean-Claude Trichet beat him to the punch.
"Drat!" you say. "Yawn! Not more morning notes. Not another string with market pearls of wisdom I might have to read."Fear not! I threaten you only with idle thoughts and random contemplations from the other side of the Big Pond (from beyond the Channel even). In other words, from parts of the world where a Hamburger doesn't necessarily come as a snack between two bits of a soggy roll, where a Frankfurter might well eat a wiener, and where cars -- oh, bliss! -- generally have a stick shift and a clutch!It's also from a part of the world -- eat your heart out, friends from the British Isles -- where you can travel from country to country without ever showing your passport and, more to the point, never have to change your money.OK, that also means the land where battalions of politicians argue passionately over the size, color and bending-angle (seriously!) of bananas, about what exactly passes for a standard-size €uro condom and acceptable work practices for a €uro chimney sweep. If that doesn't justify the title of this blog -- €urocentric -- then I don't know what does.