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Jan 10, 2013

ECB to hold fire as economy shows glimmers of hope

FRANKFURT, Jan 10 (Reuters) – The European Central Bank is
expected to keep interest rates at a record low of 0.75 percent
on Thursday, refraining from a cut as the euro zone economy
shows some signs of stabilising and inflation still tops its
target.

The 17-country euro zone is in recession, but recent data
points to some stabilisation, and ECB President Mario Draghi
might strike a slightly more positive tone in the news
conference that follows the rate decision.

Jan 10, 2013

ECB to hold fire as euro zone economy shows glimmers of hope

FRANKFURT (Reuters) – The European Central Bank is expected to keep interest rates at a record low of 0.75 percent on Thursday, refraining from a cut as the euro zone economy shows some signs of stabilising and inflation still tops its target.

The 17-country euro zone is in recession, but recent data points to some stabilisation, and ECB President Mario Draghi could strike a slightly more positive tone in the news conference that follows the rate decision.

Jan 9, 2013

Special Report: How Mario Draghi is reshaping Europe’s central bank

FRANKFURT (Reuters) – The banker now in charge of rescuing the euro wants his top staff to take Sundays off. Mario Draghi, president of the European Central Bank, eschews long meetings and refrains from lecturing his colleagues, senior ECB officials say.

Until Draghi took over a year ago, insiders say, the bank had a workaholic, micro-managed regime. But even as the Italian has proved ready to intervene in the markets and try policies that would have been unthinkable a few years ago, he has brought a freer, more hands-off culture to the bank.

Dec 7, 2012

German, Austrian central banks see grim 2013 as crisis bites

FRANKFURT (Reuters) – The central banks of Germany and Austria on Friday forecast barely any economic growth in 2013, with the Bundesbank flagging risks of a recession in the euro zone’s biggest economy as the debt crisis hits the bloc’s core.

The Bundesbank expects Germany’s economy to grow just 0.4 percent next year, down from a June forecast of 1.6 percent. The new projection is marked by “a high degree of uncertainty”, it added, and “the balance of risks is on the downside”.

Dec 7, 2012

Bundesbank cuts growth outlook as crisis bites

FRANKFURT, Dec 7 (Reuters) – Germany’s Bundesbank cut its
growth outlook for next year on Friday as the euro zone debt
crisis takes its toll on the bloc’s largest economy, but added
that the country would return to its growth path soon.

The move comes a day after the European Central Bank cut its
growth forecasts for next year pointing to weaker growth
prospects for the bloc’s core countries, such as Germany, France
and the Netherlands.

Dec 6, 2012

ECB holds rates, to give new economic outlook

FRANKFURT, Dec 6 (Reuters) – The European Central Bank held
interest rates at a record low of 0.75 percent on Thursday,
leaving investors to shift their attention to new economic
forecasts for clues about possible cuts next year.

ECB President Mario Draghi is expected to present a downward
revision of the bank’s staff projections at his news conference,
due to start at 1330 GMT. The projections will also include the
first forecasts for 2014.

Dec 6, 2012

ECB set to cut economic forecasts, but not rates

FRANKFURT (Reuters) – The European Central Bank is likely to keep interest rates on hold on Thursday but may offer clues on its policy path for next year with updated forecasts likely to present a grim outlook for the euro zone economy in 2013.

Since announcing a new bond-buying plan in September, the ECB has held off on further action until the program is activated.

Nov 23, 2012

East Europe needs to step up reforms: EBRD chief

FRANKFURT (Reuters) – Eastern European countries must make themselves more attractive to foreign investors by cutting red tape and enforcing rules consistently, the European Bank for Reconstruction and Development’s president said on Friday.

Suma Chakrabarti told Reuters in an interview that with the worst problems in bank liquidity abating, there would be a shift by the bank toward helping the real economy instead of crisis maintenance in the financial sector.

Nov 23, 2012

EBRD chief: East Europe needs to step up reforms

FRANKFURT, Nov 23 (Reuters) – Eastern European countries
must make themselves more attractive to foreign investors by
cutting red tape and enforcing rules consistently, the European
Bank for Reconstruction and Development’s president said on
Friday.

Suma Chakrabarti told Reuters in an interview that with the
worst problems in bank liquidity abating, there would be a shift
by the bank toward helping the real economy instead of crisis
maintenance in the financial sector.

Nov 22, 2012

Greek central bank sees euro zone of 16, ignores newbie Estonia

 

For the Bank of Greece, the euro zone is a bloc of 16 members, rather than the full complement of 17. Although many analysts have tippedĀ  Greece, in the throes of a long recession, to be the first to leave the currency union, it is tiny Estonia that Greece can live without, at least according to the central bank’s website.

Estonia, which joined the euro zone at the beginning of last year, seems to have completely slipped by the Hellenic central bank, even though Estonian governor Ardo Hansson has the same, single vote on the European Central Bank‘s Governing Council as its own George Provopoulos, or even German Jens Weidmann.

    • About Sakari

      "I am part of the Reuters team covering the European Central Bank. Before moving to Frankfurt in early 2009, I was based in Helsinki, where I wrote about the Finnish economy and paper industry."
      Hometown:
      Helsinki
      Joined Reuters:
      2006
      Languages:
      Finnish, English, German, Swedish
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