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Central Bankers / BCE-L arsenal montaire is not then-Lane



April 30 (Reuters) – Key Statements
Of the European Central Bank since the meeting
April 10:

* ECB STILL SOURCES THAT ARE
COUNT – LANE

April 30 – Central Bank arsenal
The European Central Bank (ECB) is not a budgetary policy
could help stimulate investment, said Tuesday
Philip Lane, future member of the Institute's Board of Directors
mission.

Investors worry that the ECB will no longer have
the possibility of raising rates, which would mean
more alternatives in the event of recession.

“The idea that the ECB does not have the capacity is very distant
reality, "said the central bank governor
Ireland, replacing Chief Economist Peter Praet
ECB.

Fiscal policy can help reduce
uncertainty and encouraging the private sector to invest, t
added Lane.

* REHN NOT CONNECTED FAST DPT MODULATION

April 26 – Governor of the Central Bank of Finland
Olli Rehn expressed his skepticism about interest on Friday
ECB interest rates to return
Free Bank Fees from Excess Reserves
at the central bank.

"I'm not really convinced of the effectiveness of this."
knowledge-based tool, "he said
Press conference.

"We're still dealing with" forward lead "when
at our meetings, "he added with a link to the website. t
future trajectory of key interest rates
institutions.

Dvelopp:

* ECB IS NEXT, AS NEEDED

April 25 – The European Central Bank (ECB) is ready
Reactivate your Quantitative Release Program (QE) if
to reach the inflation target, but not
he has discussed this option so far, he said on Thursday
Deputy Chairman Luis de Guindos.

“We've closed our release program
quantitative end of last year, but (…) it is
something we can use new if
necessary, ”he said during New York's intervention.

* SKEPTIC HEART ON THE DPT MODULE PLACE

April 23 – Benot Coeur, member of the Executive Board of the Bank
The European Central Bank is doubtful in the interview
publishes Tuesday the idea of ​​modular debit rates that
exempt banks from any charges on their reserves
surpluses deposited with the ECB.

The ECB's negative deposit rate is not a problem
and banks should rather focus
their costs, said Frankfurter Allgemeine
Zeitung.

"In the current situation I do not understand the argument
monetary policy in favor of modulation, "he added.
"But we need to follow developments closely
situation. "

Resources previously told Reuters
ECB officials seemed more willing
reward banks that lend to businesses and
but most of them were skeptical
the possibility of modulating the deposit rate.

Dvelopp

* GROWTH IN THE EURO AREA LOW IN T2 -PRAET

April 12 – Market expectation of further delay
the first ECB rate hike since the crisis
financial incentives require a recovery in inflation,
said ECB chief economist Friday.

"Ono (OIS) interest rate swap curve. T
day after day) that arose after the "Rangers" conference
from Frankfurt is something that suits us
The concept of what financial conditions should be. "

Economist added that BCE is open to thought and
modulation of deposit rates that could reduce impact. t
credit institutions' interest rates.

Praet also said that the euro area economy should be
stabilize in the second quarter, which means that. t
ECB projections for recovery in the second
semester remains a manual door.

* GROWTH IN THE EURO AREA DEPENDS TO WORLD-DRAGHI

12 April – Growth prospects in the euro area
it depends on the rest of the world, said Friday
ECB President Mario Draghi, his counterparts.
“The outlook for the euro area is heavily dependent
dynamics of global growth, ”he said.

"The Rise of Tension in Business, Slowdown in 2006. T
manufacturing industry in the world and turnover
the technology sector has strengthened winds
the euro area, ”he added.

* EFFECTS OF NATIONAL RATES CAN BE VALID
Visco-June

April 11 – The European Central Bank (ECB) could
decide whether to mitigate these effects
unintentional negative deposit rates, he said on Thursday
Ignazio Visco, Governor of the Bank of Italy.

"In June, we will probably face a new one."
projection and we will definitely look at the parameters
TLTRO (long-term target refinancing operations) as
that all that was discussed (…) about side effects
will be investigated, ”said Visco Washington Press.

Visco added that the impact of the negative debit rate,
currently -0.40%, on bank profits was "no
very important ".

"We are still discussing and analyzing effects," he said.
"Numbers are not very important".

* ECB WILL ACCOMPANY AS LONG AS
Necessary, VILLEROY

April 11 – The European Central Bank will continue
monetary policy adjustment, if necessary
inflation target, he said on Thursday
Francois Villeroy de Galhau, Bank Governor
France.

Speaking in Washington on the outskirts of the General Assembly
Of the International Monetary Fund. T
World Bank, Franois Villeroy de Galhau, who is
The ECB's Governing Council added that the euro area
the economic slowdown but not
did not go through the recession.

With reference to the last committee meeting
monetary policy of the ECB, which took place on Wednesday
they said: "We have confirmed our currency commitment by
that we are willing to pursue politics
to meet as long as necessary to reach our goal
inflation target. "

This goal is close to inflation but little
less than 2%.

Franois Villeroy de Galhau also beat that bank
explore the possibility of implementation
Modular deposits for banks to mitigate consequences
negative official debit rate -0.40%.


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