Page 1/35

OeNB Austrian National Bank

Nowotny: Financial Crisis Marked Beginning of Era of Small GDP Growth

The financial crisis that erupted in 2007 likely marked the beginning of an era of low economic growth rates, central bank OeNB governor Ewald Nowotny stated during the inauguration of the 43rd Economic Conference in Vienna on Monday. The latest economic forecast show no acceleration of growth, but rather a slow improvement of the situation.

June 15, 2015

Central Bank Raises Net Profit, EUR 315 Mln to Flow to State Coffers

Austria's national bank OeNB raised 2014 net profit by 14 percent y/y to EUR 341 million (USD 372.5 million) of which EUR 315 million will flow to the state budget, the bank's president Claus Raidl told an earnings conference. In 2014, the state received EUR 256 million from OeNB's profit.

May 29, 2015

OeNB to Purchase Austrian Bonds Worth EUR 24 Billion

Since March this year the European Central Bank (ECB) has been buying public bonds and securities worth EUR 60 billion a month. The purchasing programme is supposed to be completed by September 2016. The Austrian central bank (OeNB) has begun working on its part and is buying over EUR 1.23 billion (USD 1.35 billion) in state bonds every month.

May 28, 2015

Austrian Central Bank Plans to Relocate Gold Reserves

Austria's central bank OeNB plans to move its gold reserves by 2020 and hold half of the total in Austria, at the bank itself and at the Austrian mint, the bank said on the occasion of the annual press conference. Another 30 percent of the gold will be stored in London and 20 percent in Switzerland.

May 28, 2015

Volksbanken Merger: Schelling Calls Emergency Meeting

Finance Minister Hans Jörg Schelling announced a crisis meeting for Monday, 10:30, with regard to the merger in the Volksbank banking sector, daily Oberösterreichischen Nachrichten (OÖN) reports in its Friday issue. The heads of three rebellious banks, the units for Almtal (Upper Austria), Gmünd (Carinthia) and Osttirol-Westkärnten have been summoned to Vienna.

May 15, 2015

Assets of Austrians Worth EUR 572 Billion in 2014

The financial assets of Austrian households increased by 2.7 percent y/y to EUR 572.4 billion (USD 620.2 billion) in 2014, the central bank Oesterreichische Nationalbank (OeNB) estimates. The growth was due to the acquisition of financial assets (EUR 9.7 billion) and due to a higher evaluation of securities (EUR 5.4 billion).

April 28, 2015

Austrian Central Bank Puts Up For Sale Three Residential Properties

Austria's central bank OeNB put up for sale three residential properties in "best locations" in Vienna with a combined spaec of 3.2k sqm, OeNB said in a statement on Wednesday.

April 17, 2015

ECB Unleashes Quantitative Easing - How does it work?

Today, the ECB finally commenced on a large scale sovereign bond-buying programme. The €60bn monthly asset purchases include covered bonds and asset backed securities. Due to the flood of cheap money, the DAX was boosted. The index increased by up to one per cent to a record high of 10,399.67 points. Quantitative easing is a monetary policy where a central bank creates new money electronically to buy financial assets. The aim is to stimulate an economy when standard monetary policy has become ineffective. How does it work?

January 22, 2015

Forecast for CESEE Countries (Webinar)

Central, Eastern and Southeastern Europe (CESEE) have been strongly affected by the economic crisis. However now there are signs of an improving economic climate and growth rates will again be above the EU average. The current situation in the Ukraine and potential difficulties between the EU and Russia constitute a downside risk.

June 24, 2014

Hanna Kordik Awarded the Prize for Outstanding Economic Journalism

Hanna Kordik was awarded the prestigious Horst Knapp Prize in a ceremony. The eulogy was delivered by Ewald Nowotny, Governor of Oesterreichische Nationalbank, in his capacity as chairman of an independent jury. The speaker at the award ceremony was the industrialist Hannes Androsch.

June 10, 2014