OeNB Austrian National Bank

OeNB: Thanks to Refugee Accommodation Costs, GDP Forecasted to Grow

According to the Austrian central bank OeNB there are two factors which support economic revival towards the end of the year: spending on refugees and the tax reform. In Q4 2015 and in Q1 2016 the economy will grow by 0.1 percentage points thanks to refugee accommodation costs. The tax reform will contribute another 0.1 percentage point to the growth in Q1 2016.

November 12, 2015

Austrian Banks Back to Black in H1

The banks active in Austria managed to return to profits in the first half of 2015 thanks to disappearance of Hypo Alpe Adria. The credit institutions obliged to present their results achieved a consolidated positive result of EUR 2.6 billion in the first six months. In the first half of 2014 they recorded a loss of EUR 593.6 million Austrian central bank (OeNB) reported.

October 29, 2015

Investors' Interest in Austria Dwindles in H1

Austria suffered a decline in investors' interest in H1 2015 with passive direct investments "extremely weak” at "only EUR 2.9 billion [USD 3.295 billion]” in the period, central bank OeNB said.

October 20, 2015

OeNB Cuts Austrian Inflation Forecast for 2016 to 1.6 Percent

Austrian central bank (OeNB) in its "Inflation Quarterly" analysis for Austria confirmed its inflation forecast for the current year. At the same time, it reduced its forecast for the next year.

October 13, 2015

OeNB Confirms GDP Growth Forecast of 0.7 Percent for 2015

The Austrian national bank (OeNB) has confirmed its GDP growth forecast of 0.7 percent for 2015. The growth is under the average of the Eurozone, which could require additional stimuli OeNB governor Ewald Nowotny said in Alpbach. The OeNB governor pointed out that the development in Eastern Europe is positive for Austria.

September 4, 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

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

Situation for Austrian Banks in Russia is “Sensitive”

According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.

April 29, 2014