Speech by Jürgen Stark, Member of the Executive Board of the ECB at the 13th Annual Emerging Markets Conference 2011 Washington, 24 September 2011. Ladies and gentlemen, I am very pleased to address this distinguished audience. Looking back over time, we see that the role and conduct of monetary policy has often changed in response [...]
10 Jun. The European Central Bank and the Bank of England have left interest rates unchanged. The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.25%, 2.00% and 0.50% respectively. The [...]
09 May. BIS: The bank lending channel: lessons from the crisis. Summary. The 2007-2010 financial crisis highlighted the central role of financial intermediaries’ stability in buttressing a smooth transmission of credit to borrowers. While results from the years prior to the crisis often cast doubts on the strength of the bank lending channel, recent evidence [...]
28 Apr. Federal Reserve Chairman Ben Bernanke fielded questions from reporters for the first time ever after a policy meeting, taking another step toward increasing transparency at the central bank. The chairman addressed issues ranging from rising gas prices to the effect of the Japanese earthquake on the U.S. economy. He didn’t break much news [...]
28 Apr. Information received since the Federal Open Market Committee met in March indicates that the economic recovery is proceeding at a moderate pace and overall conditions in the labor market are improving gradually. Household spending and business investment in equipment and software continue to expand. However, investment in nonresidential structures is still weak, and [...]
16 Mar. Information received since the Federal Open Market Committee met in January suggests that the economic recovery is on a firmer footing, and overall conditions in the labor market appear to be improving gradually. Household spending and business investment in equipment and software continue to expand. However, investment in nonresidential structures is still weak, [...]
03 Mar. Webcast of the press conference following the meeting of the Governing Council of the European Central Bank on 3 March 2011 at its premises in Frankfurt am Main, Germany, starting at 2:30 p.m. CET: * Introductory statement by Jean-Claude Trichet, President of the ECB. * Question and answer session. Registered journalists pose questions [...]
19 Nov. Do we know what we need to know in order to lean against the wind? A speech by Adam Posen, Monetary Policy Committee, Bank of England. … The tenor of the times following the global crisis is to take that extreme premise as a given, and to advocate a policy response of tightening [...]
Enhancing monetary analysis The European Central Bank (ECB) has published a book entitled “Enhancing monetary analysis”, edited by Lucas Papademos, former Vice-President of the ECB, and Jürgen Stark, member of the Executive Board of the ECB. The book summarises the results of a research agenda pursued by Eurosystem staff to enhance the set of tools [...]
10 Sep. The Bank of England’s Monetary Policy Committee voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The minutes of the meeting will be published at 9.30am [...]