European Central Bank leaves base interest rates unchangedEconomy
- Editorial: Lithuania gets euro i.e. full Baltic houseOpinionThe 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.
- Cbank: Economic growth is supported by consumption, manufacturingEconomyAccording 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: reasonable limits that limit nobodyOpinionWho 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 boomEconomy«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.
- Editorial: central bank saving the eurozone economyOpinionEuropean 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 afloatOpinionIn 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.
- ECB acts decisive in deflation threatEconomyEven 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.