european-central-bank
BankingECB Supervisors Show Dark Side of Higher Rates for Banks
Top StoriesEcb, UniCredit Clash Over Capital Plans, Russia Presence, Ft Says
Top StoriesEuro Zone Downturn Deepened in Oct, Winter Recession Likely -PMI
InvestingEuropean Shares Struggle for Momentum on Inflation Worries, Central Bank Moves Awaited
French Economy Ekes Out Meagre Growth in Q3, Inflation Hits Record High
Date: October 28, 2022
By Richard Lough PARIS (Reuters) – France’s economy eked out meagre growth in the third quarter as household spending stagnated and a sharp jump in inflation in October signalled headwinds looming in the final quarter of the year. France’s economy grew 0.2% in the July-September period, in line with market expectations, preliminary data from the...
Lagarde Comments at ECB Press Conference
Date: October 27, 2022
FRANKFURT, Oct 27 (Reuters) – The European Central Bank raised its key interest rate by 75 basis points on Thursday to 1.5%, the highest level since 2009, and signalled an intention to start mopping up cash from the banking system to fight record-high inflation. Following are highlights of ECB President Christine Lagarde’s comments at a...
ECB Raises Interest Rates Again, Cuts Bank Subsidies
Date: October 27, 2022
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank raised interest rates again on Thursday and announced it was changing the terms of its ultra-cheap loans to commercial banks in a bid to shrink its bloated balance sheet and fight off a historic surge in inflation. Worried that rapid price growth...
ECB Gets Rid of Subsidy on Bank Loans to Mop up Cash
Date: October 27, 2022
FRANKFURT (Reuters) – The European Central Bank on Thursday got rid of a subsidy on its multi-year loans to banks to encourage them to repay them early, in a move designed to mop up excess cash from the system and avoid political embarrassment. The ECB has come under pressure to change the terms of its...
European Stocks Slip; ECB Raises Rates by 75 Bps
Date: October 27, 2022
By Elizabeth Howcroft LONDON (Reuters) – European shares fell on Thursday and Wall Street futures were mixed, as investors weighed up disappointing earnings results with speculation that major central banks could be coming towards the end of their rate-hiking cycles. The European Central bank raised rates by 75 basis points and signalled that it was...
Statement From the ECB Following Policy Meeting
Date: October 27, 2022
FRANKFURT, Oct 27 (Reuters) – Following is the statement from the European Central Bank following its policy meeting. The Governing Council today decided to raise the three key ECB interest rates by 75 basis points. With this third major policy rate increase in a row, the Governing Council has made substantial progress in withdrawing monetary...