Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

ECB will act on unwarranted rise in borrowing costs, its VP says

2021 04 14T082531Z 1 LYNXMPEH3D0EY RTROPTP 4 EU ECONOMY - Global Banking | Finance

FRANKFURT (Reuters) – The European Central Bank will act on any “detrimental” rise in borrowing costs and considers removing stimulus too early a bigger risk than acting too late, ECB Vice President Luis de Guindos said on Wednesday.

With borrowing costs rising last month, the ECB stepped up bond purchases to cap yields but some policymakers are now discussing a cut in bond purchases once the pandemic is brought under control in the second half of the year.

“At the moment, risks from the early withdrawal of policies are higher than the risks associated with keeping support measures in place,” de Guindos told a hearing of the European Parliament’s Committee on Economic and Monetary Affairs.

Several policymakers including ECB chief Christine Lagarde have expressed satisfaction in the market’s reaction to the bank’s March decision to “significantly” increase bond purchases and de Guindos said the ECB would act again if markets were out of sync with real economic developments.

“We are continuously monitoring favourable financing conditions and this is going to be our guide in the short and medium term, and if we notice… that there is a detrimental tightening of financing conditions, we will react; this is part of our commitment in the short term, until the pandemic is over,” he said.

Although de Guindos said that the timely approval of the European Union’s 750 billion euro ($897 billion) fiscal package was crucial, he played down concerns about a possible delay, arguing that it was a structural instrument aimed at raising the bloc’s long-term growth potential.

($1 = 0.8361 euros)

(Reporting by Balazs Koranyi; Editing by Hugh Lawson and Kim Coghill)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post