Tag: european central bank
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Klaas Knot and Pablo Hernández de Cos appear as front-runners for the Presidency of the ECB
Following the announcement by ECB President Christine Lagarde that she will resign early on 7 February next year, the race for her successor is already gathering pace. The names of potential contenders had been circulating in political and financial circles even before her resignation was announced. The names of Klaas Knot, backed by the Netherlands,…
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ECB raises inflation forecast: ECB Chief calls for more investment in AI
Yesterday, during a hearing of the European Parliament’s Committee on Economic and Monetary Affairs, European Central Bank President Christine Lagarde presented latest ECB’s inflation outlook, with inflation the outlook showing inflation going even higher and expected to remain above 2% until 2029. According to the ECB’s latest September projections, headline inflation is expected to average…
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ECB unveils proposed new Euro banknotes featuring Maria Callas, Ludwig van Beethoven and Leonardo da Vinci
The European Central Bank has unveiled ten shortlisted design proposals for the new Euro banknotes. The new Euro banknotes will feature either a selection of European birds, including the wallcreeper, kingfisher, bee-eater, white stork, avocet and northern gannet, or a series of notable European cultural and scientific figures, including Maria Callas, Ludwig van Beethoven, Marie…
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Full impacts of energy shock are yet to play out – ECB Chief Christine Lagarde
The European Central Bank has left its interests rates unchanged after an increase last month raising the rate by 25 basis points to 2.65% for its marginal lending facility. In her press conference, ECB President Christine Lagarde said that current energy prices are at the levels of the ECB’s forecasts, and energy prices remain volatile.…
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European Central Bank raises interest rates on rising inflation and lower growth
The European Central Bank has announced that it is raising its interest rates by 25 basis points to 2.4% and 2.65% and said that it forecasts headline inflation for 2026 to hit 3%. This is higher from the ECB’s baseline target of 2% and below. Economic growth projection has been lowered to 0.8%. Inflation has…
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Cautious central banker, Luis de Guindos, ends his term at the ECB
Deputy-President of the European Central Bank, Luis de Guindos has ended his term and has made way for his successor, Boris Vujčić, the previous Chairman of the Croatian National Bank. Luis de Guindos brought a pragmatic, experience-driven perspective to the ECB, shaped by his traditional finance roots and the volatile post-2018 environment. He consistently highlighted…
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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…