Rate hike would be devastating: ECB’s Schnabel

© Reuters. FILE PHOTO: 29th Frankfurt European Banking Congress (EBC) takes place in Frankfurt BERLIN (Reuters) – Raising euro zone interest rates in the current environment would have a devastating impact, European Central Bank board member Isabel Schnabel said on Sunday, adding that temporary spikes in inflation should not be confused with a trend. Schnabel […]

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Cross-border mergers in Europe would help diversify banks: ECB’s de Cos

© Reuters. FILE PHOTO: FILE PHOTO: ECB headquarters in Frankfurt MADRID (Reuters) – European monetary policymaker Pablo Hernandez de Cos on Monday called for cross-border banking consolidation in Europe to strengthen the European banking union and increase lenders’ geographical diversification. European banks are under growing pressure to join forces to deal with rising bad debts […]

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ECB’s Mersch warns against double counting as decision looms

FRANKFURT (Reuters) – The European Central Bank must avoid double counting information as it parses economic data, including the euro’s exchange rate, to prepare for next week’s policy decision amid a second wave of coronavirus infections, ECB board member Yves Mersch said on Monday. “Looking ahead, in the current environment of elevated uncertainty the ECB […]

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ECB’s Lane braces for tougher phase for euro zone economy: WSJ

© Reuters. FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks during a Reuters Newsmaker event in New York FRANKFURT (Reuters) – The euro zone zone economy is entering a tougher phase as a surge in coronavirus cases puts a question mark over the recent rebound, the European Central Bank’s chief economist Philip Lane […]

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ECB’s Lagarde shifts burden to governments to aid recovery

© Reuters. Informal Meeting of Ministers for Economics and Financial Affairs in Berlin FRANKFURT (Reuters) – Euro zone governments must keep spending heavily to aid the bloc’s recovery from its historic pandemic-induced recession, complementing already super-easy monetary policy, European Central Bank President Christine Lagarde said on Sunday. With debt levels blowing past 100% of GDP […]

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ECB’s German board member pushes back on court challenge

© Reuters. FILE PHOTO: 29th Frankfurt European Banking Congress (EBC) takes place in Frankfurt FRANKFURT (Reuters) – The European Central Bank’s government bond purchases are necessary and the benefits far outweigh the side effects, ECB board member Isabel Schnabel said on Saturday, pushing back on a court challenge from her native Germany. Germany’s Constitutional Court […]

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ECB’s Lagarde: EU Economy has Probably Bottomed out 

EU probably went through the hardest phase of economic downturn caused by the pandemic, said European Central Bank head Christine Lagarde on Friday, while urging authorities to prepare for a possible second wave. “We’ve probably bottomed out, and I’m talking about this with some concern, because, of course, a serious second wave can begin,” Lagarde […]

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ECB’s Lagarde: The Worst for the EU Labor Market is yet to come

The head of European Central Bank, Christine Lagarde, said to EU leaders on Friday that the eurozone economy is experiencing a tremendous decline and urged the bloc to act decisively to speed recovery. EU leaders held a video conference on Friday to discuss ways of propelling consumption and investment in the economy. According to Lagarde, […]

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ECB’s Lagarde urges quick EU recovery plan as economy in ‘dramatic fall’

2/2 © Reuters. European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt 2/2 BRUSSELS (Reuters) – European Central Bank head Christine Lagarde urged European Union leaders on Friday to quickly agree on a recovery package that would pull the economy from […]

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ECB’s Lagarde says large-scale debt cancellation ‘unthinkable’

© Reuters. FILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures during a news conference on the outcome of the meeting of the Governing Council, in Frankfurt PARIS (Reuters) – European Central Bank President Christine Lagarde dismissed on Thursday the possibility of a generalised cancellation of debts contracted during the coronavirus crisis. “That seems […]

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