Word: ecb
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Dates: during 2000-2009
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...bailouts across Europe, the region's banks still are not lending money. The volume of lending to the private sector in the eurozone, the 16 countries that use the common European currency, dropped 0.1% in February from the month before and lending to businesses also slipped 0.1%, the ECB reported...
...board that sets ECB monetary policy seems to be divided over the best way to deal with the financial crisis. When asked about the discussion behind closed doors, Trichet would say only that the board reached a "consensus" on its decision. But consensus does not mean unanimous and there is plenty of reason to believe that some members think the ECB is going too far, too fast...
...recently as Nov. 25, Lorenzo Bini Smaghi, a member of the ECB executive board warned that cutting rates too sharply could contribute to destabilizing financial markets rather than help calm them. And Trichet seemed to echo that concern, refusing to give any clear guidance about what direction the ECB may take when it meets again in January. "For January, I say nothing. It's as simple as that," he said. "We have to be sure that what we are doing is really effective...
...Will the ECB begin to act more like the U.S. Federal Reserve and cut fast and deep? While it has flooded European markets with cash in recent months in an effort to revive the interbank lending market, it has not engaged in the purchase of assets from banks like the Fed. Trichet said the ECB has the power to do so, but is not showing his hand...
...hard to imagine the ECB pushing the quantitative easing boat as far into uncharted waters as the Fed has already done," said David Mackie, head of Western European economic research at JP Morgan, in a note to clients...