THE EUROPEAN CENTRAL BANK has left its key interest rate unchanged at 1 per cent for the fifth month in succession, at its monthly board meeting held in Barcelona. ECB president Mario Draghi said the governors had not discussed the possibility of lowering the rate. Draghi was not asked about any progress on discussions regarding Ireland’s promissory note burden during his press conference.
#European Central Bank
# european-central-bank - Wednesday 27 June, 2012
New data shows German inflation at its lowest for 18 months – meaning less pressure on the ECB to keep rates up.
# european-central-bank - Monday 18 June, 2012
The European Commission flatly denies an RTÉ report saying the Troika are considering extending the schedule for repayments.
# european-central-bank - Wednesday 13 June, 2012
An essential round-up of the details to date of the Spanish bailout, from interest rates to lending conditions.
# european-central-bank - Thursday 3 May, 2012
# european-central-bank - Thursday 26 April, 2012
The full text of a statement circulated by the European Commission, European Central Bank and International Monetary Fund.
The Troika has completed the sixth review of Ireland’s bailout programme and the Minister for Finance and Minister for Public Expenditure and Reform briefed the press earlier today.
The full text of a statement issued this lunchtime by Michael Noonan and Brendan Howlin after the sixth Troika inspection.
Officials from the EC, IMF and ECB are expected to give Ireland the thumbs up on its bailout.
# european-central-bank - Wednesday 25 April, 2012
Mario Draghi tells Gay Mitchell there’s no deal – and is warned that the EU is only “slightly more popular than the measles”.
# european-central-bank - Wednesday 11 April, 2012
Investors declined the opportunity to buy short-term Italian bills this morning, seeing interest rates double from last month.
# european-central-bank - Wednesday 4 April, 2012
Mario Draghi expects Ireland to keep up its annual repayments of the promissory note, dodging questions about a larger deal.
# european-central-bank - Sunday 1 April, 2012
A German newspaper report says the Bundesbank won’t take Irish, Greek or Portuguese bonds from banks any more.
# european-central-bank - Saturday 31 March, 2012
RTÉ says Ireland’s banks could be given bonds by the EFSF, which could then be used to go to the ECB and get funds.
# european-central-bank - Thursday 29 March, 2012
The government had been in negotiations for some time with the European Central Bank over the €3.1 billion note which was due to be paid by this Saturday.
# european-central-bank - Tuesday 27 March, 2012
Patrick Honohan is due to answer questions over the Anglo Irish promissory note repayment and the emergency liquidity provided to banks during the crisis.
# european-central-bank - Thursday 22 March, 2012
Bloomberg reports Patrick Honohan will formally ask the ECB’s permission today to restructure Ireland’s promissory notes deal.
# european-central-bank - Wednesday 21 March, 2012
The Finance Minister has told the Dáil that the €3.1 billion repayment due next week could be converted to a long-term bond instead.
# european-central-bank - Monday 12 March, 2012
The minister for finance tells RTÉ that loss-making mortgages could be taken off the books of AIB and Permanent TSB,
# european-central-bank - Thursday 8 March, 2012
A ballooning balance sheet and bigger roles in the bond markets meant the ECB turned profits of €728m, up from €171m.
Mario Draghi will give a press conference at 1:30pm following a meeting where Anglo’s promissory notes were up for discussion.
As expected, the monthly meeting of the ECB’s governing council decides not to tinker with the main interest rates.
# european-central-bank - Wednesday 7 March, 2012
The ECB’s monthly meeting of central bank governors will give Patrick Honohan a chance to explain the need to strike a deal.
# european-central-bank - Friday 2 March, 2012
Overnight deposits in the ECB surged to their highest ever, just a day after it issued €529 billion to boost credit markets.
# european-central-bank - Wednesday 29 February, 2012
The second round of unusually lengthy lending sees the ECB lend €529bn to banks, hoping the cash will be passed onward.
# european-central-bank - Tuesday 28 February, 2012
The ratings agency demonstrates it can read, by officially acknowledging that Greece’s bond-swap is a ‘selective default’.
# european-central-bank - Tuesday 21 February, 2012
# european-central-bank - Thursday 9 February, 2012
ECB head Mario Draghi said that there are “tenatative” signs of stabilisation in the eurozone.
# european-central-bank - Monday 23 January, 2012
The ECB declines to comment on Leo Varadkar’s remarks, but says its stance on Irish burden-sharing is well-known.
The government is warning that consumers will be hit if €1.25bn is not paid to senior bondholders on Wednesday but others think the government should default. What do you think?
Transport Minister Leo Varadkar conveyed the strong words from the Troika partners in an interview last night.
# european-central-bank - Thursday 19 January, 2012
The IMF says burden-sharing is an option, but the ECB says it’s worried that doing so cause panic to “spill over” to Europe.
Sinn Féin’s finance spokesperson Pearse Doherty has said that Michael Noonan’s comments earlier today were “deeply insulting”.
The European Commission, European Central Bank and International Monetary Fund discussed Ireland’s bailout progress.
There were five things worth noting from today’s press conference with Brendan Howlin and Michael Noonan. Here they are.
We liveblogged events from Government HQ as the ministers hosted a press briefing on the latest EU-IMF review of Ireland.
It comes amid growing talk that Ireland will need a second bailout. One economist did not rule out such a possibility this morning.
# european-central-bank - Monday 16 January, 2012
After slowly winding down its programme of hoovering up eurozone debt, the ECB was called back into action in a big way.
# european-central-bank - Thursday 12 January, 2012
The decision follows two successive months of cutting the bank’s main interest rate which was a welcome boost for mortgage holders.
# european-central-bank - Wednesday 4 January, 2012
Overnight deposits at the ECB jumped by €65bn on Monday – potentially undermining ECB efforts to get money moving again.