Press Releases

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23 June 2003

Euro area growth continued to fall in May

The EuroCOIN reading for May 2003 confirms the negative signal given in April. In May, the rate of growth of the euro cycle fell from 0.388 to 0.286 (quarterly rates), indicating falling growth for the second consecutive month.

30 May 2003

Russia Faces Higher Non-Tariff Barriers on Exports to an Enlarged EU

Russia and the EU are now preparing for significant changes in their economic relations that will be discussed at the EU – Russia Summit on 31st May 2003 in St. Petersburg. Russia seeks WTO accession and to further its integration into the global economy, while the EU is in the completing phase of its eastern enlargement.

21 May 2003

EuroCOIN™ stable in April

In April 2003, the cyclical component of the euro area GDP grew slightly less than in March, giving an uncertain signal for future growth. Growth is still positive, but below the average of the period 1988-2002.

13 May 2003

Bank of England Gets Top Marks for Best Inflation Report

A new study published by The International Centre for Monetary and Banking Studies (ICMB) and the Centre for Economic Policy Research (CEPR) by Andrea Fracassco, Hans Genberg and Charles Wyplosz argues that the Inflation Report is an essential part of an inflation targeting central banks monetary policy strategy and establishes what a good Inflation Report should contain.

The authors find that the Bank of England has the best overall Inflation Report of the 19 inflation-targeting central banks assessed in the study.

01 May 2003

Transaction Charges Increase Volatility in Financial Markets

The financial crises that have plagued the global economy over the last decade have rekindled an old debate surrounding the use of transaction charges, such as the ‘Tobin Tax’, as a way of reducing volatility in financial markets. This debate comes at a time when regulatory, organizational and technological changes have considerably reduced the costs of buying and selling shares.

23 April 2003

EuroCOIN Signals Slight Recovery in March

In March 2003, the euro area economy showed signs of a slight acceleration. Growth of the cyclical component of GDP is positive and increasing, and just below the average of the period 1988-2002.

24 March 2003

EuroCOIN Signals Stagnation in February

In February 2003, the euro area business cycle conditions remained mainly stable. CEPR’s EuroCOIN indicator has hovered around an average quarterly reading of 0.300 that, although positive, is below the 1986-2002 average.

04 March 2003

Accession Countries Face Increased Instability in ERM-II

The European Union is now preparing for the entry of ten new members. As the accession countries (ACs) embark on the next phase of the path toward formal entry into the EU, most are expected to join the Exchange Rate Mechanism (ERM-II), prior to adoption of the euro.

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