European Central Bank


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European Central Bank:

see under European Monetary SystemEuropean Monetary System,
arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. It was organized in 1979 to stabilize foreign exchange and counter inflation among members.
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References in periodicals archive ?
* Article 127, section 6 is not an adequate legal basis for a single supervisory mechanism under the control of the European Central Bank because it merely empowers the EU Council to "confer specific tasks upon the European Central Bank concerning policies relating to the prudential supervision of credit institutions ...".
The Bank of Japan and three European central banks will jointly provide dollar funds to their banking systems in coordination with the U.S.
According to the governor of Bank of Finland, Erkki Liikanen, there could be a rate increase by the European central bank in April, but there might not be a possibility of multiple rate increases because of global developments.
Accordingly, we support the recent decision of the European Central Bank, Babacan underlined.
The Financial Times Deutschland reported that a majority of euro zone countries and the European Central Bank were pressing Portugal to follow Ireland and Greece and seek aid from the European Union and International Monetary Fund.
The European Central Bank has expressed concern that euro zone inflation has hit 3.1 per cent, well above its target of just under 2pc, prompted by sharply higher oil and food costs, will unleash a lasting wage-price spiral.
(1.) Sponsoring organizations are the following: Bank of Algeria, National Bank of Belgium, Central Bank of Brazil, Bank of Canada, People's Bank of China, Bank of England, European Central Bank, Bank of France, Deutsche Bundesbank, Bank of Greece, Hong Kong Monetary Authority, Central Bank of Iceland, Bank of Italy, Bank of Japan, Netherlands Bank, Norges Bank, Bank of Portugal, Central Bank of Russian Federation, Monetary Authority of Singapore, Bank of Spain, Sveriges Riksbank, Swiss National Bank, Central Bank of Turkey, Federal Reserve Board, and Bank for International Settlements.
As a result, although interest rates are likely to stay on hold for the time being, BDO Stoy Hayward believes that the European Central Bank (ECB) will cut rates in the second quarter of the year.
A recent major competition for the new European Central Bank in Frankfurt provided an intriguing snapshot of current architectural preoccupations.
"In surrendering their currencies for the euro, the peoples of Europe have unwittingly stepped inside a gilded cage and they will soon learn that the Eurocrats in Brussels and the bankers at the European Central Bank are very cruel masters.
The decision follows a move by European Central Bank to increase its lending rate.
Soon after Madame Fontaine's crusade against ruthless capitalism in the form of mergers and other things, the president of the European Central Bank, Wim Duisenberg, praised the increase of the very same.

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