Archive of topic posts
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© Norman Kriese / ECBECB and Bank of England activate currency swap arrangement
06.03.2019
The European Central Bank (ECB) and the Bank of England have decided to activate a standing swap line through which the Bank of England will offer to lend euro to UK banks on a weekly basis. The ECB will receive pound sterling from the Bank of England in exchange for euro. The activation marks a prudent and precautionary step by the Bank of England to provide additional flexibility in its provision of liquidity insurance, supporting the functioning of markets that serve households and businesses.
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© Frank RumpenhorstExecutive Board endorses second term of office for Weidmann
The Bundesbank’s Executive Board has endorsed the nomination of Jens Weidmann for a second term of office as Bundesbank President. The Executive Board notified the Federal Government that it had no objections to the Federal Cabinet’s nomination.
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© Frank RumpenhorstBundesbank posts distributable profit of €2.4 billion in 2018
The Bundesbank posted a profit of € 2.5 billion for the 2018 financial year, representing a year-on-year increase of € 0.5 billion. This increase was due to higher interest income, noted Bundesbank President Jens Weidmann.
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© Peter KneffelSharp rise in housing prices in 2018
According to Bundesbank data, housing prices in Germany showed a further sharp rise last year. The Bundesbank’s latest Monthly Report reveals that prices outside the urban areas were also going up at a faster pace than in the years before.
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© ZB - SpecialEconomic activity continuing to cool
Economic activity in Germany continued to cool at the end of 2018. The Federal Statistical Office reported that Q4 GDP remained at roughly the same level as in the previous quarter, which had seen a contraction of 0.2%. According to the Bundesbank’s current Monthly Report, this is due in large part to persistently weak industrial activity.
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© picture alliance / dpaStudy finds that cash payments are quick and cheap
Cash is quicker and cheaper at the point of sale than other means of payment, a recent study has found. It performed better than other payment types for transactions of up to €50 in particular. According to the study, three out of four payments are settled in cash.
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© Gaby GersterWeidmann: Trust is a central bank’s most valuable asset
Bundesbank President Jens Weidmann has underscored the importance of central banks’ independence to their success. “In order to defend their independence, central banks should interpret their mandates narrowly and seek the support of the broad public,” he said in a speech he delivered in Pretoria.
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© Christian RieckBalz favours European solution for cashless payments
07.02.2019 DE
Demand in Europe for payment instruments that can be used anywhere across the continent is on the rise. So it’s high time Europe set about forging a solution of its own, Bundesbank Executive Board member Burkard Balz says. Besides invigorating competition, this would also serve to bolster European payment instruments and their providers, he explained in Frankfurt am Main.
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© Frank RumpenhorstWeidmann: Greater monetary policy leeway needed
Bundesbank President Jens Weidmann sees Brexit and the global trade dispute as the two largest risks to Germany’s economy. In a speech delivered in Mannheim, he called on politicians to resolve the conflicts.
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© Nils Thies200 young people discuss the future of Europe with Bundesbankers
28.01.2019 DE
For the euro’s 20th birthday, the Bundesbank invited 200 young people to discuss the future of Europe and the single currency under the slogan “Your Europe – make something of it!”