Tag: european central bank
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ECB holds rates as energy shock clouds outlook despite earlier growth momentum
European was doing well before the Iran war broke out according to the European Central Bank Chief Christine Lagarde. Domestic demand remains the main driver for growth but prices are coming under pressure due to the energy shock. Speaking at today’s press conference, Lagarde said that the Euro area economy had been showing signs of…
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European Central Bank leaves interest rates unchanged: energy and commodity prices weighing on inflation
The European Central Bank kept interest rates unchanged following its latest Governing Council meeting. The US Federal Reserve also kept interest rates unchanged. The President of the ECB Christine Lagarde said warned that while inflation in the Eurozone has recently eased to around target levels, risks are titled to the downside due to the war…
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ECB Chief Christine Lagarde welcomes new Maltese Central Bank Governor Alexander Demarco
The President of the European Central Bank Christine Lagarde welcomed Alexander Demarco to the ECB’s Governing Council. He officially replaces Edward Scicluna. Alexander Demarco’s appointment to the ECB Governing Council was welcomed alongside the appointment of Bulgaria’s Central Bank Chief Dimitar Radev after Bulgaria has just joined the Eurozone. New Slovenian Central Bank Governor Primož…
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ECB Chief urges European legislators to introduce legislation on the Banking Union and the Digital Euro
The European Governing Council met on Thursday in Firenze and kept interest rates unchanged as expected prompting little attention. The meeting was followed with Fed’s announcement that it was to lower its interest to 3.75-4%. Yesterday, Eurostat issued a flash estimate of inflation in the Euro-area in October coming at 2.1% in accordance with the…
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ECB keeps interest rates unchanged: raises economic growth forecast for 2025 from 0.9% to 1.2%
The European Central Bank has kept its main interest rate unchanged at 2.15% and 2.4% for its marginal lending facility, and stated that inflation is still around at its 2% target. However, it has raised its economic growth projections for the Euro area from 0.9% to 1.2% for this year. On the economy, the ECB…
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Heatwaves caused lower productivity and higher food prices: European Central Bank
In a recently published paper authored by the ECB’s senior lead economist, ECB research shows that productivity decreases by around 1.5% during a heatwave while food prices in Europe increased by 0.7% during the Summer heatwave of 2022. The ECB has raised concerns that ongoing climate changes in Europe that are raising the extremities of…
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The Euro remains the second most important global currency
The level of international use of the Euro has remained unchanged in 2024 compared to the previous year, retaining its position as the second most important currency after the US Dollar following a latest ECB report. On the other hand, international loans issued in Euro terms have increased by 40% and by up to $900…
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European Central Bank lowers lending rate to 2.4%: Lagarde says both core and headline inflation are going down
Updated: During the press questions, the ECB President also announced that the EU’s crypto-legislation MICA is under review for improvement especially in regard to stable-coins. She also said that the EU needs to be prepared before the roll0out of the digital Euro. The European Central Bank has said that core and headline inflation are going…
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European Central Bank reduces interest rate to 2.5%
The European Central Bank reduced its key interest rate to 2.5% from 2.75% citing the lower inflation rate. The ECB said that it is on track of bringing inflation down to 2% by the end of the year with Euro area inflation being estimated to go down from 2.3% in 2025, to 1.9% in 2026.…
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European Central Bank cuts interest rate forecasting inflation to keep slowing down
The European Central Bank has cut its interest rates for its lending and deposit facilities by 0.25% (25 basis points), lowering the ECB’s deposit interest rate for banks at 3.75%. The interest rte cut comes after a similar move by the Bank of Canada and marks a further move towards an end to the relatively,…
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President of the European Central Bank, Christine Lagarde, says that the decision regarding Edward Scicluna should be made by the local authorities
Contrary to what Edward Scicluina stated earlier this week, it is not up to the European Central Ban Bank to make a decision on his current position as Governor of the Central Bank of Malta. In a reply provided to this website European Central Bank President Christine Lagarde has stated: “Dear Mr Camilleri, On behalf…
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Higher for longer with recessionary vibes
This is a depressing speech from EU Central Bank chief Christine Lagarde citing recessionary vibes in Europe, prolonged inflation, and slowing demand (both European demand and international demand for European products). Personally, I assumed Christine Lagarde was going to give a hawkish pause but the Central Bank increased the interest to 25 BPS (0.25%). Her…
