The Bank of Estonia PSPP holdings are available for securities lending. The counterparties eligible for this lending are trading counterparties who have relevant agreements (GMRA agreements) with the Bank of Estonia.
The Eesti Pank reserves allow the central bank to remain independent of the government and ensure that it has sufficient capital to cover any possible losses. More broadly, the reserves help ensure confidence in the monetary system of the euro area and underpin the stability of the Estonian... more
Estonia joined the euro area at the beginning of 2011. In the euro area, the Eurosystem is responsible for the implementation of the single monetary policy. The Eurosystem consists of national central banks (NCBs) in the euro area and the European Central Bank (ECB) in Frankfurt. As a Eurosystem... more
Governor of Eesti Pank and member of the Governing Council of the European Central Bank Ardo Hansson says there is no reason to hope that interest rates on loans will forever remain as low as they are now.
- The central banker believes that the Estonian economy is already simmering... more
Governor Ardo Hansson gave a lecture to the Research Centre SAFE (Sustainable Architecture for Finance in Europe) at Goethe University entitled Euro Area Monetary Policy: Effects and Side-effectsEuro area monetary policy: effects and side effects from Eesti Pank
- The economy was driven upwards mainly by a burst of growth in demand
- Increased investment is required for the economy to continue to succeed
- An increase in employment rather than in investment has brought the labour market very close to overheating
The year... more