central bank rates

ECB Stark Says Excessively Low Rates May be Counterproductive

Frankfurt - European Central Bank Governing Council member Jürgen Stark warned that rate cuts will not solve the financial crisis and that rates at too low a level could even be counterproductive.The lower rates are, the less incentive banks have to clean up their balance sheets and carefully monitor their credit risks, Stark said in an interview with Luxembourg newspaper Tageblatt, published on Saturday.On Thursday, the ECB's Governing Council voted to reduce the central bank's key policy rate

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Rates Could Come Down Further in March, Says ECB's Liikanen

(CEP News) Frankfurt - With inflation in line with the European Central Bank's target of price stability, the central bank could reduce its main refinancing rate at its next meeting in March, ECB Governing Council member Erkki Liikanen said.

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ECB to Use Manoeuvring Room on Rates, Says Weber

Frankfurt - The European Central Bank has manoeuvring room regarding interest rates, which we will use, ECB Governing Council member Axel Weber said in Berlin on Friday, suggesting that the current level of 1.50% is not the lowest the ECB is willing to bring its key policy rate to.Weber also said the central bank could offer longer term refinancing loans.Raising the maturities in our repo operations could help to guarantee financing security, the central banker said.Written by CEP

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ECB's Nowotny Still Sees Room for Maneuver, Not in Favour of Rates at Zero

(CEP News) Frankfurt - European Central Bank Governing Council member Ewald Nowotny said that, while the central bank has room to bring rates below its current level of 2%, he did not support rates at zero percent.

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ECB Has Room to Manoeuvre on Rates, Says Gonzalez-Paramo

Frankfurt - European Central Bank Governing Council member Jose Manuel Gonzalez-Paramo said that while the economic outlook is still mired in exceptional uncertainty, the ECB has manoeuvring room on rates.However, rates will be decided based on inflation expectations, he added.Interest rates will come down to the level which allows inflation expectations to be anchored in line with price stability, Gonzalez-Paramo said on Spanish TVE on Wednesday, noting that expectations had fallen since the central bank raised its key

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ECB's Bini Smaghi Warns of Unintended Results from Excessively Low Rates

Frankfurt - European Central Bank member Lorenzo Bini Smaghi warned that excessively low rates could have unintended consequences and that he does not believe it is always a good idea to err on the side of excessive easing.Be careful to avoid overshooting and cutting rates to too low levels, Bini Smaghi said in a speech delivered Friday at the University of Ancona, in Italy. The central banker added that rates at zero percent could lead to substantial problems

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ECB's Nowotny Says 1.00% Rates is Lowest Limit

There is room for the European Central bank to cut rates again, but 1.00% is the lowest the main refinancing rate should go, said Austrian Central Banker Ewald Nowotny on Monday in an interview with Reuters.There is both need and room for expansionary policy next year, said the central banker, arguing that the overnight and deposit rates should not go to zero.He also said the central bank is considering a wide variety of options to stimulate the

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Yen Lower After Downbeat Comments from Government & Central Bank

The Japanese yen is lower against the U.S. dollar after downbeat commentary from the Japanese Finance Minister and central bank governor.Bank of Japan Governor Masaaki Shirakawa told lawmakers in Tokyo that the central bank is looking for ways to counter a sharper-than-expected economic contraction. Meanwhile, Japanese Finance Minister Kaoro Yosano said the declines in the U.S. stock market are affecting sentiment in Japan and cannot be ignored.At 7:31 a.m. EST, The U.S. dollar was up 0.46 to

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ECB Unlikely to Cut More than 50 Basis Points, Says Provopoulos

Frankfurt - The European Central bank is unlikely to reduce rates by more than 50 bps at its March meeting, Governing Council member Georgios Provopoulos said.In an interview with Reuters published on Tuesday, Provopoulos said a cut of either 25 or 50 basis points could not be excluded at the upcoming meeting. However, he said any decision, including keeping rates on hold at 2.00%, would depend on the revised ECB staff projections expected in March.We will have to

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Japanese Yen Rallies Sharply; BOJ Deputy Says Central Bank Could Do More

The Japanese yen rebounded on Friday following comments from a Bank of Japan Deputy Governor suggesting that the central bank could take additional actions to stimulate the economy.In an interview with Bloomberg, Bank of Japan Deputy Governor Yutaka Yamaguchi said the central bank could expand purchases of corporate debt and could review its collateral requirements. Meanwhile, People's Bank of China Governor Zhou Xiaochuan said some economic indicators are turning around, suggesting that the central bank and government's

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