ECB
European Central Bank
The ECB's Noyer made a few good points about the strength of the Euro today in comments about currencies around the world: "The Euro is not particularly strong relative to the yen, the Swiss franc, the Canadian or Australian dollars or several other currencies.
The question of the relationship with the dollar is not specific to the Euro-zone." This is very true, though it is also true that the Euro is unfairly strong vs. the US relative due to USD-pegging reserve accumulators, mostly in Asia.
The Euro zone economy is stagnating with negative figures, Jean-Claude Trichet President of the ECB said on Friday.
It is perhaps unfortunate that the current crisis distracts our minds from the subject of the Conference: the euro coming of age. In different conditions, I would have argued – as I did in the past – that, far from suppressing growth and entrenching divergences, the euro has spurred a spectacular drive of job creation virtually everywhere in the Union. By helping and fostering a long-due redressing of economic priorities and processes, the euro has enabled many countries participating in Monetary Union to do their best to compete successfully. We see signs that this restructuring is spreading to other parts of the Union that have been less successful so far in taking up the challenge.
Monetary Policy Focus
Currency Converter
Central Banks Interest Rates
| US | 0.25% |
| UK | 0.5% |
| EMU / EURO | 1% |
| Japan | 0.1% |
| Switzerland | 0.25% |
| Canada | 0.25% |
| Australia | 3% |
| New Zealand | 2.5% |
| Sweden | 0.25% |
