Notis Marias, Greek Independent MEP, explains why he thinks that the European Central Bank is profiting from Greece's debt.» Read More
European Central Bank President Jean-Claude Trichet said disorderly swings in currencies were undesirable, according to an interview with a French magazine published on Thursday.
The latest wave of the seven-month old global credit crisis intensified on Monday as interbank lending rates climbed again in Europe and Asia and the world's top central bankers said they were on high alert.
European Central Bank President Jean-Claude Trichet said on Monday that the bank is currently concerned about excessive movements in currency exchange rates which are undesirable for economic growth.
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.
The ECB decided to hold its main rate at 4% today, while the US Federal Reserve and the Bank of England have been cutting rates. See how the rates compare for the past 10 years...
The European Central Bank is likely to keep its title as the last inflation hawk standing at its rate-setting meeting Thursday, but as fears of a global economic slowdown grow, calls for easing will only increase.
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.
The same banks that demanded market forces be allowed to work in other indutries are now begging central banks for help.
"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.