Monetary policy

Nothing will be the same as before

Coronavirus will change our lives in many ways, in Greece and across the globe. First of all, it will certainly make us poorer; at least in the short term. International experts estimate that Greece will experience a recession of between 3 and 4 percent. That estimate is based on the projection that Greece's tourism industry will suffer a 50 percent drop. 

Turkish Central Bank cuts policy rate full point

Addressing concerns of the fallout from coronavirus, in an extraordinary meeting on March 17 the Turkish Central Bank Monetary Policy Committee (MPC) cut its policy rate from 10.75 to 9.75.

The bank was set to meet on March 19, but with fears of the virus mounting, and cases climbing worldwide, the meeting was moved up.

BNR's Vasilescu: Public, entire Romanian society should understand first urgency is banks not to fall

The public and the entire Romanian society should understand that the first urgency is that banks don't fall, and after this urgency comes solidarity, National Bank of Romania (BNR) Strategy Consultant Adrian Vasilescu said on Tuesday. "The action has to take into account urgencies.

Inflation targets as focal points: Revising the ECB’s monetary framework

The toughest job central banks face in the next five years is managing uncertainty. In the euro area, inflation is persistently low and the ammunition available to raise it is minimal. Meanwhile, structural changes, including the rise of the digital economy and its effects on productivity, and the threat to global open trade, imply that we do not know how the economy will work.

Editorial: Slingshot in lieu of a bazooka

The global economy is already sailing in the uncharted waters of the asymmetrical threat of the coronavirus.

In the last systemic threat, in 2012, then ECB chief Mario Draghi famously said that "whatever it takes" would be done.

That assurance alone was sufficient to quell the fears of investors and raised the bar for the handling of analogous future crises.

Central bank's Vasilescu: The entire collapse of the national currency was worth 2 bani

The collapse of the national currency, which has gone from 4.7 RON to 4.8 RON per euro, is worth 2 bani (the lowest subdivision of the Romanian currency, 100 bani equals 1 RON - e.n.), and presently it doesn't even reach that, said on Sunday Adrian Vasilescu, strategy consultant at the National Bank of Romania. "There is much talk these days.

Turkish Central Bank int'l reserves at $102.5 bln in January

The Turkish Central Bank's official reserves stood at $102.5 billion as of the end of January, the bank announced on Feb. 28.

The January figures showed total reserve assets dropped 2.9 percent from the previous month.

Foreign currency reserves - in convertible foreign currencies - fell 4.7 percent to $73.5 billion during the same period.