ECB's Trichet: The pace of economic weakening is decelerating", but "there are still risks of a sudden emergence of unexpected economic turbulence". "Long term inflation expectations in the euro area" have been "exceptionally resistant to sudden short-term price changes" and "money market yields at longer than overnight maturity have fallen even more strongly than the policy rate", which means "that a crucial element of the monetary policy transmission mechanism is intact". There is "some indication that the functioning of the money market is improving". Trichet stressed that "to restore confidence in the near-term and the long-term future, policymarkers in the euro area and elsewhere must maintain an appropriate balance between bold short-term action and the return to a path that is sustainable in the medium term." Current rates are appropriate but the central bank has to remain permanently alert. The president added that he never comments on remarks made by colleagues and that he is the "porte parole" of the governing council. "What is said by Ben Bernanke, Tim Geither and the president of the U.S. that a strong dollar is in the interests of the U.S. is a very, very important declaration". ECB is not campaigning for international use of the Euro. U.K. is welcome to join the single currency, but that it is up to the U.K. to decide. Speaking (June 22,2009)

ECB's Nowotny: There are signs of improvement on the economic outlook and the banking sector. "Of course we do have risks from the side of the real economy" "I personally always prefer a realistic and cautious approach. That means I do see positive signs but I also see, with regards to the economy, with regards to unemployment some challenges. Therefore I have been warning against a premature relaxation of support programs, both with regard to monetary policy and with regard to fiscal policy. I think to a certain extent the worst may be behind us, but there is still the need to be cautious with regard to future developments". "For the time being I can say that the policy of the ECB has been adequate for the economic situation as we have it and I personally am a strong supporter of a steady-hand policy approach. So I wouldn't advocate massive and frequent changes". We will have a discussion on monetary policy in two weeks, but don't expect any changes with respect to interest rates. "Monetary policy has to proceed in line with the development of the economy as such, so if the economy is developing in the way that we expect, I do not see a perspective for this year and we will need to look again next year". (June 21, 2009)

ECB's Trichet: No need for "significant" additional budget stimulus or new measures to strengthen the international financial system. Nations are unable to boost their debts or deficits further. EU decisions on regulation are an "important step".ECB measures won't endanger price stability in the medium term and the criteria to join the eurozone "must be respected." (June 21, 2009)

ECB's Gonzalez-Paramo said it is too early to start planning exit strategies, but added that the ECB has thought about an exit strategy from the beginning and that it will not e very hard and complex to unwind non-standard measures. The executive board member said that "the exit strategy should be gradual" and in line with conditions with financial markets. (June 19, 2009)

ECB's Bini Smaghi said he sees signs of stabilization on financial markets, but warned that one must not lose the sense of urgency for reform even as forces pushing the status quo are gaining strength. Bini Smaghi said hedge funds must be part of risk assessment and that the recent crisis has shown the importance of macro-prudential supervision in promoting financial stability. (June 19, 2009)

ECB's Constancio: "There is at the moment the problem of the dollar and the role of the dollar in the international monetary system". "Russia made declarations in the same direction in that Chinese leaders had made that it would be necessary to create a new currency or new instruments so that official world reserves wouldn't all be based on the dollar". (June 17, 2009)

ECB's Mersch: "I think the ECB has done all that it could to alleviate the consequences of the financial crisis". "On the available information and analysis, we have done what needs to be done and consider our monetary policy stance as appropriate". (June 16, 2009)

ECB's Weber: On the German economy: "With regards to the downwards dynamics, I think we have left the worst behind and currently are in a stabilization phase. However, we are far away from a significant pick up of the economy". (June 16, 2009)

ECB's Draghi: "Even if it is premature to implement" exit strategies now, "it is not too soon to begin designing them and to reflect on what conditions will need to be in place for their enactment." "Exit from overly expansionary fiscal policies to reduce public debts and exit from the current stance of monetary policies to anchor inflation expectations are essential for both price stability and financial stability". (June 16, 2009)

ECB's Nowotny: "I'd warn against a premature exit strategy." "We are still in a crisis. The primary goal should be to restore economic growth as fast as possible". (June 15, 2009)

ECB's Papademos: "On the basis of the information we have and the analysis we have made and taking into account all the risks we have identified, we don't see any need for additional monetary policy measures to be taken". "We feel that the monetary policy stance is appropriate." (June 15, 2009)

ECB's Orphanides sees lots of weakness worldwide but said the worst has been averted. Orphanides remarks that "massively expansionary" monetary policy by central banks has helped avert the crisis. He downplayed the comparison to the crisis of 1929, stating that "we have learned from the historical record and I interpret the current reaction of fiscal and monetary policy as having learned from these lessons. (June 15, 2009)

ECB's Trichet said the ECB has "reacted promptly and decisively to the intensification and broadening of the global financial turbulence" and lowered key interest rates by 325 basis points since last October. Trichet also stressed the price stability remains the ECB's primary objective and that long term inflation expectations in the eurozone remain firmly anchored. Nothing new in the comments, which seems a close repeat of the introductory statement last week and do not change the rate outlook. Trichet stressed the need for a "credible exit strategy", which confirms that central bankers are starting to look past the current crisis. . (June 12, 2009)

ECB's Hurley said monetary policy will remain accommodative for as long as required until there are significant signs of improvement in Europe's recovery. (June 11, 2009)

ECB's Weber said the central bank has cut interest rates "massively", adding that the current rate corridor is appropriate given the current economic outlook. The Bundesbank president also said the ECB expects the new 12 months refis to lower long term rates, while the purchases of covered bonds are expected to reduce spreads. The ECB's refi measures led to a new system of financing according to Weber. Weber said in general monetary policy should be more symmetrical and that central banks can raise rates before it is needed in a pre-emptive manner, even though he stressed that this does not refer to the current ECB policy. (June 10, 2009)

ECB's Mersch said "the current interest rate is appropriate", adding that if circumstances do not change he would not see why the ECB "would add something additional" to the bank's plan to buy covered bonds. Mersch added, however, that there is no such thing as a lower rate bound, even though he stressed that very low rates have "negative side effects". He also told the WSJ that the eurozone economy is "reaching a valley", but still has to "walk through the valley". (June 10, 2009)