ECB – European Union – Diaryofastocktrader.com

ECB Battle Lines Form for March Decision as Future Hikes Debated

(Bloomberg) — Battle lines are forming for the European Central Bank decision next week, with one official calling for a whole campaign of new tightening and some colleagues favoring caution.Most Read from BloombergHolding Cash Will Be a Winning Strategy in 2023, Investors SayTesla Slashes Model S and X Prices for the Second Time This YearTesla’s China Price War Sparks $18 Billion BYD Rout: Tech WatchTrump’s Threat of a Third-Party Run Is Undercut by ‘Sore Loser’ LawsUS Banks Are Finally Being
— Read on ca.finance.yahoo.com/news/ecb-battle-lines-form-march-140208486.html

ECB Battle Lines Form for March Decision as Future Hikes Debated

ECB gets rid of subsidy on bank loans to mop up cash

The European Central Bank on Thursday got rid of a subsidy on over 2 trillion euros of loans to banks to encourage them to repay early, a move designed to mop up excess cash but which was criticised by the banking industry. The ECB has come under pressure to change the terms of its Targeted Longer-term Refinancing Operations (TLTRO) because the generous rate offered at the height of the COVID-19 pandemic now allowed banks to make a guaranteed profit at the ECB’s expense. As well as being costly for the ECB, this source of cheap cash was getting in the way of its fight to lower inflation, which is running at close to 10% in the euro zone.
— Read on ca.finance.yahoo.com/news/ecb-gets-rid-subsidy-bank-133855376.html

ECB Doubles Rate to Most in Over a Decade Despite Recession Fear

(Bloomberg) — The European Central Bank doubled its key interest rate to the highest level in more than a decade and signaled it’s making progress in its battle with record inflation, just as the likelihood of a recession mounts.Most Read from BloombergNew Covid Boosters Aren’t Better Than Old Ones, Study FindsMusk Tells Twitter Staff He Doesn’t Plan to Cut 75% Of JobsUS Warns South African Economic Hub May Be Terror TargetAdidas Cuts Ties With Ye, Absorbing €250 Million Profit HitOfficials in
— Read on ca.finance.yahoo.com/news/ecb-doubles-rate-most-over-122227310.html

ECB meeting Oct 2022: Hikes rates by 75 basis points, new terms for European banks

The ECB announced another 75-basis-point rate hike — its third consecutive increase this year — while also scaling back support for European banks.
— Read on www.cnbc.com/2022/10/27/ecb-meeting-oct-2022-hikes-rates-by-75-basis-points-new-terms-for-european-banks.html

ECB Interest-Rate Hikes Must Persist Into Next Year, Kazaks Says

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.European Central Bank Governing Council member Martins Kazaks said interest rates should be raised beyond year-end — a time when economists increasingly expect the euro zone to be in the midst of a recession.The reason for the prolonged hawkish stance, according to the Latvian official, is that elevated inflation is likely to persist despite a downturn. He backs a hike of 75 basis poin
— Read on ca.finance.yahoo.com/news/ecb-interest-rate-hikes-must-115618237.html

What is the Cost of Europe’s Energy Crisis?

The European energy crisis will cost at least $276 billion.This infographic shows allocated spending by country amid historic gas prices.
— Read on elements.visualcapitalist.com/what-is-the-cost-of-europes-energy-crisis/

European Central Bank chief signals possible July rate hike

FRANKFURT, Germany (AP) — The president of the European Central Bank on Monday gave the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation. In a blog post on the Frankfurt, Germany-based bank’s website, President Christine Lagarde said she expects asset purchases that buoy the economy would end “very early in the third quarter.” “This would allow us a rate lift-off at our meeting in July, in line with our forward guidance,” she wrote. “
— Read on ca.finance.yahoo.com/news/european-central-bank-chief-signals-191021052.html

Inflation hits record high of 7.5% in countries using euro

BRUSSELS (AP) — Inflation hit a record in April for the 19 countries that use the euro as skyrocketing fuel prices boosted by the war in Ukraine weigh on the region’s economic recovery from the coronavirus pandemic. Annual inflation reached 7.5% for the month, topping the old record of 7.4% from March, statistics agency Eurostat said Friday. The April figure was the sixth consecutive record reported for the eurozone. Eurostat said energy prices jumped 38%, an indication of how Russia’s invasion
— Read on ca.finance.yahoo.com/news/inflation-hits-record-high-7-090715821.html

Recession Threat Hangs Over Europe’s Fragile Economic Growth

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergElon Musk Offloads $4 Billion of Tesla Shares, Pledges No More SalesPutin Is Losing So Here’s How He’ll Make the War WorseUkraine Latest: Germany Says Won’t Block a Russian Oil EmbargoFour European Gas Buyers Made Ruble Payments to RussiaUkraine’s Forces Get Boost From Arsenal of Old-Fashioned ArtilleryThe euro zone’s recovery from the pandemic is already showing
— Read on ca.finance.yahoo.com/news/recession-threat-hangs-over-europe-100748819.html