European Central Bank leaves base interest rates unchanged
The Governing Council of the European Central Bank (ECB) at a meeting held in Tallinn on Thursday left base interest rates unchanged, monthly net asset purchases are intended to run until the end of 2017.
Fraudster, saint or two-faced Janus?
Court verdicts say that the businessman Raivo Paala is a hardened veteran fraudster who has tried to cheat the state with hundreds of millions of euros. Meanwhile, Mr Paala has this other face of an uncompromising fighter for human rights.
14.04.2016, Nils NiitraPM
500 euro «Bin Laden» to be binned
So most of us Estonians will never see the €500 note as European Central Bank is thinking to give it up seeing such a large part of its users are crooks.
18.02.2016, Tõnis OjaPM
241 forged euro banknotes spotted in H1
In the first half of this year 241 counterfeit euro banknotes were detected in Estonia, eight fewer than in the second half of 2014.
Estonia not against using EFSM to help Greece
Estonia is not against tapping into the European Financial Stability Mechanism (EFSM) to provide Greece with bridge financing.
So it’s here — deposit interests drop to zero
Should one wish to deposit his savings at SEB, say, and enter the bank website, no interest rate would be above zero. All euro deposits with fixed terms up to three years are at zero interest. No interests by the bank even for Swedish kronor deposited.
16.04.2015, Tõnis OjaPM
Editorial: see you in four months … or sooner
To a bystander, Greece and the so-called troika – European Commission, European Central Bank and IMF – long look like the cacophonic quartet from a parable by Ivan Krylov. Which, as we know, ended in the morale: change the seating if you like, the sound gets no nicer.
Eesti Pank may start buying public enterprise bonds
Though the «money printing» program proclaimed by European Central Bank involves government bonds, Eesti Pank will not exclude bond purchases of public corporations such as Eesti Energia and Elering.
30.01.2015, Tõnis OjaPM
ECB's stimulus package will have little impact on Estonia - SEB
SEB believes that the European Central Bank's quantitative easing package will have little impact on Estonia, with the economic situation in neighboring countries and one-off factors playing a more important part.
Editorial: Lithuania gets euro i.e. full Baltic house
The day after tomorrow, as the year changes, euro will also be the money of the Lithuanians. Indeed, they already wanted the currency back in 2007, but were rejected as their inflation was slightly above the Maastricht criterion. Now, eight years later, Lithuania becomes 19th member of the eurozone – a decision maker at the European Central Bank (ECB) table in Frankfurt.
Eesti Pank head: eurozone no longer in crisis
Estonian central bank president Ardo Hansson says eurozone crisis is no more while we continually experience a difficult situation with growth outlook modest and fragile.
29.12.2014, Tõnis OjaPM
Cbank: Economic growth is supported by consumption, manufacturing
According to a flash estimate published by Statistics Estonia on Tuesday the gross domestic product of Estonia in the third quarter increased by 2.1 percent on year and by 0.2 percent compared to the previous quarter, while annual growth of manufacturing and retail sales accelerated which points to an increase in Estonia's economic activity, the Bank of Estonia reports.
Editorial: Falling Rouble Blues
Yesterday, central bank of Russia announced of rate of rouble released – no longer having to wobble within a corridor as kept there by support buys while burning the precious cash reserves. To justify the step, avoidance of anti-rouble speculations was cited.
Editorial: reasonable limits that limit nobody
Who would not remember the loan boom preceding recession? Everybody does – the lenders, the borrowers, and those that abstained. The last group was small. For we also remember that in the competition, loan conditions ended up altogether utopian. Almost, one might say, it was easier to get a loan than to go without.
Eesti Pank battling a boom
«Compared to the period six months back, the real estate market has clearly calmed down,» Estonian central bank vice president Madis Müller told a press conference yesterday. With president of the bank Ardo Hansson, they introduced home loan limitations to enter into force starting next year. The limits are three.
30.10.2014, Tõnis OjaPM
Editorial: central bank saving the eurozone economy
European Central Bank led by its president Mario Draghi, saviour of the euro two years back, is keeping up strong stimulation of eurozone’s stagnating economy and demonstrating determination to save it from deflation trap. As decided by ECB council yesterday, the base interest is down to the non-existent percentage of 0.05, and deposit interest 0.2 below zero. Also, they are in for a massive purchasing of assets.
Editorial: economy afloat
In spring, finance ministry set this year’s Estonian real terms GDP growth at 2 percent. Yesterday, they issued a figure more realistic – 0.5 percent. Figuratively speaking, this year our economy keeps afloat – the nostrils, at least, above water. And that’s basically all. Beholding the neighbouring economies, not much hope any would assume the role of an engine to be pulling us along.
The budget brings quite a headache
Money «pre-eaten» by costly coalition promises and nearly nonexistent economic growth.
18.08.2014, Kadri HansaluPM
ECB acts decisive in deflation threat
Even before stepping into office, European Central Bank president Mario Draghi was nicknamed Super Mario. Now, nearly three years into his term, the ECB council under his leadership has managed to act decisive on several occasions. For starters, two years ago, eurozone was saved from breaking apart, or, at least, from a very bad crisis. Now, the central bank is set to do battle for boosting economy and defeating deflation.
06.06.2014, Andres EinmannPM
Editorial: jump-starting circulation
European Central Bank (ECB) council decision, yesterday, to drop its deposit interest below zero is rare yet not unexpected. The trick has been done before, by Swedish and Danish central banks, to enhance economy – the nations, however, don’t use the euro. For the eurozone, this is a first.
Housing market heating up
Even Eesti Pank is uneasy about the fast price rise of real estate over the past year, thus dedicating an entire chapter in its financial stability report to housing market and the risks it carries.
08.05.2014, Kadri InselbergPM
Kallas: the timing no accident
This Tuesday, the day Prime Minister Andrus Ansip stepped down, Eesti Päevaleht published copies of documents bearing signature of Siim Kallas, on the basis of which it may be asked why he promised a hundred million dollar bank guarantee to businessmen of mixed background. Meanwhile, Reform Party was already busy investigating who stuck such compromising papers into media.
06.03.2014, Argo Ideon