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ECB cuts key lending rate by 25 bps, lowers annual economic growth projection by 10 bps

ECB cuts key lending rate by 25 bps, lowers annual economic growth projection by 10 bps

Thu, Sep 12, 2024

The ECB revised its 2024 growth forecast to 0.8 per cent from 0.9 per cent citing “weaker contribution from domestic demand" in the next few quarters.

US vs Eurozone: Inflation divergence causes monetary desynchronisation

US vs Eurozone: Inflation divergence causes monetary desynchronisation

Wed, May 22, 2024

In recent years, the global economy has faced a growing divergence in inflation rates between the United States and the Eurozone. This phenomenon has raised concerns about the desynchronisation of monetary policy between the two major economic blocs and its potential impact on the global financial system's stability.

ECB holds rates at record highs, signals upcoming cut

ECB holds rates at record highs, signals upcoming cut

Thu, Apr 11, 2024

The European Central Bank kept interest rates at record highs but sent an even clearer signal that it may be preparing to cut them as euro zone inflation continues to fall. The central bank for the 20 countries that share the euro currency kept its deposit rate at 4.0%, where it has been since September as part of a 1-1/2-year effort to rein in prices.

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Euro zone banks may get reprieve until 2021 from ECB bad debt rules

Euro zone banks may get reprieve until 2021 from ECB bad debt rules

Thu, Mar 15, 2018

According to the guidelines, banks will have two years to fully provision for soured non-secured debt, while in the case of secured loans the deadline will be seven years. The new guidelines were intended to take effect on Jan. 1 but the bank pushed back its deadline to revise the proposal after fierce criticism, particularly from Italy, whose banks have accumulated more bad debt that most in Europe.

Bubble or breakthrough? Bitcoin keeps central bankers on edge

Bubble or breakthrough? Bitcoin keeps central bankers on edge

Mon, Nov 27, 2017

Central bankers say the success of bitcoin and other cryptocurrencies is just a bubble. But it keeps them awake at night because these private currencies threaten their control of the banking system and money supply, which could undermine the monetary policies they use to manage inflation.

Gold falls below key level of $1,200 ahead of US jobs data, stronger dollar

Gold falls below key level of $1,200 ahead of US jobs data, stronger dollar

Fri, Mar 10, 2017

Prices of gold dropped below the key level of $1,200 an ounce on Friday to hit their lowest in over five weeks on back of a stronger US dollar ahead of US jobs data later in the day.

Goldman Sachs to move 1,000 staff from London to Frankfurt due to Brexit: Report

Goldman Sachs to move 1,000 staff from London to Frankfurt due to Brexit: Report

Thu, Jan 19, 2017

US bank Goldman Sachs will move 1,000 staff from London to Frankfurt as part of a post-Brexit reorganisation that will reduce its city headcount by half, German business daily Handelsblatt reported on Thursday.

Brexit worries push gold prices to highest in over 7 weeks

Brexit worries push gold prices to highest in over 7 weeks

Tue, Jan 17, 2017

Gold prices hit their highest in more than seven weeks on Tuesday, boosted by safe-haven buying ahead of a speech in which British Prime Minister Theresa May is expected to discuss plans for a "hard Brexit".

Eurozone inflation jumps to 1.1% in December, highest since 2013

Eurozone inflation jumps to 1.1% in December, highest since 2013

Wed, Jan 04, 2017

Inflation in the eurozone jumped to 1.1% in December, the highest level for more than three years, boosted by rising oil prices, official European Union (EU) figures showed on Wednesday.

Italy's BMPS bank to go with private sector-led rescue

Italy's BMPS bank to go with private sector-led rescue

Mon, Dec 12, 2016

Italy`s troubled Banca Monte dei Paschi di Siena (BMPS) bank on Sunday announced it would go ahead with plans to seek a private sector-led rescue, narrowly avoiding the need to seek a government bailout.

ECB rejects Monte Paschi's request for more time to raise cash

ECB rejects Monte Paschi's request for more time to raise cash

Sat, Dec 10, 2016

The European Central Bank (ECB) has rejected a request by Italy`s Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, a decision that piles pressure on the Rome government to bail out the lender.

Asian shares edge up as markets look to ECB after Italian vote

Asian shares edge up as markets look to ECB after Italian vote

Wed, Dec 07, 2016

Asian shares edged up on Wednesday as investors covered short positions in European equities as they pondered the ramifications of Italy`s referendum and looked to the upcoming policy meeting of the European Central Bank (ECB).

Donald Trump, Brexit causing economic uncertainty, says ECB's Mario Draghi

Donald Trump, Brexit causing economic uncertainty, says ECB's Mario Draghi

Tue, Nov 29, 2016

Geopolitical events including the election of Donald Trump and Britain`s Brexit vote are the main reasons for the current economic uncertainty, European Central Bank (ECB) chief Mario Draghi told European Union (EU) parliamentarians on Monday.

Shareholders of Italian bank BMPS approve rescue plan

Shareholders of Italian bank BMPS approve rescue plan

Fri, Nov 25, 2016

Shareholders in Italian bank Banca Monte Paschi di Siena (BMPS) approved on Thursday a rescue plan that will see up to five billion euros injected into the world`s oldest bank still operating today.

Gold holds losses on firm dollar after positive US data

Gold holds losses on firm dollar after positive US data

Tue, Oct 04, 2016

Gold held on to losses early on Tuesday, after falling slightly in the previous session, on a firmer dollar after an upbeat US economic data. Fundamentals

Stocks rebound in Deutsche Bank-led volatile trading

Stocks rebound in Deutsche Bank-led volatile trading

Fri, Sep 30, 2016

US and eurozone shares pushed higher on Friday in volatile trading buffeted by Deutsche Bank's woes whose shares also rallied off historic lows that had sent ripples of fear across the global finance sector.

Global monetary easing moves hit 200th milestone since January 2015

Global monetary easing moves hit 200th milestone since January 2015

Wed, Sep 28, 2016

Armenia does not often take the global financial spotlight but a routine rate cut by the tiny former Soviet republic this week marked a global milestone - the 200th case of policy easing worldwide since the start of last year.

Germany's Commerzbank to cut 9,000 jobs in restructuring: Handelsblatt

Mon, Sep 26, 2016

Commerzbank is planning to cut around 9,000 jobs over the coming years as Germany's second biggest lender pushes ahead with a restructuring plan, Handelsblatt reported on Monday, citing unnamed sources in the finance industry.

Eurozone growth slows to 20-month low: Survey

Eurozone growth slows to 20-month low: Survey

Fri, Sep 23, 2016

Eurozone economic growth has slowed to its weakest pace since January 2015, a closely watched survey showed on Friday.

Protests erupt in Athens ahead of new austerity measures vote

Protests erupt in Athens ahead of new austerity measures vote

Mon, May 09, 2016

The protest was held during a three-day general strike against pension cuts and the introduction of new taxes that shut down media outlets, public transport, and ferry service.

Merkel says 'fully supports' ECB after German criticisms

Merkel says 'fully supports' ECB after German criticisms

Fri, Apr 22, 2016

She said that debate in Germany over eurozone interest rates "is legitimate and should not be taken as interference in the ECB`s independent policies, which I fully support."

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