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August 14, 2019

Eurozone
The Role of the European Central Bank

As Europe has weathered a succession of economic crises, the European Central Bank has responded with an aggressive set of monetary policies that have redefined the bank’s original mandate.

Workers repair the euro sign in front of ECB headquarters

September 11, 2019

International Economic Policy
Are Asian Insurers the New European Banks?

It is hard to understand the global flow of funds without understanding the risks now being taken by Japanese, Taiwanese, and Korean life insurers.

Are Asian Insurers the New European Banks?

May 20, 2011

Europe and Eurasia
Is the ECB Draining its own Powers?

Back in 2000, the European Central Bank’s first president, Wim Duisenberg, explained how he knew the Bank’s operational framework for implementing monetary policy was working well.  It was, he said…

Is the ECB Draining its own Powers?

December 4, 2015

Europe
ECB and the Limits of QE

Markets were clearly underwhelmed by the European Central Bank’s (ECB) easing announcement yesterday, marginally cutting its (already negative) deposit rate and extending the duration of its asset pu…

October 31, 2014

Europe
Three Central Banks

Today’s central bank news tells us a lot about the risks and rewards of proactive central banking. The Bank of Japan (BoJ) surprised me (and nearly everyone else ) with a dramatic expansion of its u…

December 3, 2015

Europe
European Central Bank Rate Move, a Turning Point for Europe

At the governing council’s meeting today, the European Central Bank (ECB) announced that it will cut benchmark deposit rate to -0.3 percent, extend its quantitative easing (QE) program to at least Ma…

Central bank rates in Europe

November 21, 2013

Europe and Eurasia
Europe 2014: An Outlook from the European Central Bank

Jörg Asmussen reflects on the European Central Bank's role in overcoming the eurozone crisis and the economic challenges for Europe ahead in 2014.

September 30, 2016

China
The ECB on the Slowdown in Global Trade

I really liked the ECB’s recent report on the slowdown in global trade (summarized here), for five reasons. 1) It doesn’t assume that trade should always grow faster than output. A liberalization …

china-manu-trade

April 16, 2014

Europe and Eurasia
Should the ECB Go on a Bund Buying Spree?

Should the European Central Bank finally join the Fed, the Bank of England, and the Bank of Japan and deliver a good, stiff dose of Quantitative Easing? Maybe, came the surprise response from the…

Should the ECB Go on a Bund Buying Spree?

February 6, 2013

Europe
Germany’s Central Bank and the Eurozone

Germany’s Bundesbank remains an influential actor in eurozone policymaking, and its recent disagreements with the ECB raise concerns about managing the zone’s debt crisis. This Backgrounder explains.