OeNB Austrian National Bank

Harald Mahrer Pans Planned Abolition of EUR 500 Banknote

Austria’s State Secretary at the Federal Ministry of Science, Research and Economics Harald Mahrer (Austrian People’s Party) pans the planned abolition of the EUR 500 banknote, agreed by the ECB council. The originators of the plan say it is an important step in the fight against money-laundering, corruption and terrorism, but, as central bank OeNB’s director Kurt Pribil explained on Wednesday evening, there is no evidence that the abolition of the 500-banknote can reduce those crimes.

May 6, 2016

OeNB Doubles Profit Thanks to Münze Österreich

The Austrian National Bank (OeNB) more than doubled its profit from EUR 341 million to EUR 753 million in 2015 thanks to income from stake in Münze Österreich. The federal government will take EUR 508 million from the profit.

April 29, 2016

Austrian Mint to Pay EUR 564 Mln to Central Bank from 2015 Profit

The Austrian mint Münze Österreich AG, a 100 percent unit of central bank OeNB, will make a EUR 564 million (USD 635.5 million) payment to OeNB from 2015 profit.

April 15, 2016

OeNB: Austrian Banks Post EUR 5.2 Bln Net Profit in 2015

The Austrian banking sector posted a consolidated net profit of EUR 5.2 billion (USD 5.95 billion) in 2015, way above EUR 623.1 million profit in 2014, central bank OeNB said.

April 14, 2016

OeNB: Austria’s Banks Rank Low in EU with Regard to Capital

Austria’s banks have a poor capital cushion compared to their European peers, the Austrian central bank opines. Only banks in Italy, Spain and Portugal have smaller capital reserves than Austria’s banks do, Andreas Ittner, director of the national bank, told journalists.

April 13, 2016

OeNB - Inflation to Drop Further this Year

This year the rate of inflation in Austria will drop even further due to the low oil price. However, in 2017 it should grow substantially. The reason for the growth is the "base effect” expected to start in August, after 12 months cheap oil won't be effecting growth of prices any more.

April 5, 2016

Central Bank OeNB Cuts Base Rate to Negative 0.62 Pct

Austria's central bank OeNB will cut the base rate to 0.62 percent from 0.12 percent as of March 16, the bank said in a reaction to Thursday's decision of the ECB which cut the key rate to 0 percent.

March 11, 2016

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

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