Page 5 - Ecb

Top headlines: FPIs stay invested in Indian equities, Fed might hike rate

Business Standard brings you the top headlines at this hour

Yen falls after BOJ stands pat; hawkish ECB and soft US data dent dollar

The decision by the BOJ to keep its short-term interest rate target at -0.1% and its 10-year bond yield around 0% was widely expected

European stocks rise ahead of US inflation data, ECB and US Fed meeting

LONDON (Reuters) -European stocks rose in early trading on Monday and world stocks were just below 13-month highs ahead of key inflation data and U.S. Federal Reserve and European Central Bank meetings later in the week.

ECB CEO backs ICC model, says India justified in getting 38% of earnings

India make immense contribution in driving revenues and fuelling the growth of cricket globally and deserve to earn USD 230 million per year from 2024 to 2027 under ICC's proposed financial model, feels ECB chief executive officer Richard Gould. According to the new proposed distribution model, the Indian cricket board (BCCI) could earn 38.5 per cent of the USD 600 million earnings over the next four year commercial cycle with the ECB (USD 41.33 million) and Cricket Australia (USD 37.53 million) being the next highest earners. The PCB is likely to take home USD 34.51 million (5.75 per cent), while the rest will be shared by the remaining eight full members. In total, the 12 full members will get USD 532.84 million (88.81 per cent) with the remaining USD 67.16 million (11.19 per cent) going to the associate members out of the USD 600 million projected pool. The proposals, which are due to be ratified by the ICC, were criticised as it will only further increase the financial disparit

Euro stabalises near two-month low as inflation drops in relief for ECB

Inflation in the 20 nations sharing the euro eased to 6.1% in May from 7.0% in April, below expectations for 6.3% in a Reuters poll of economists

Recovery prospects for economy fragile owing to Russia's war: ECB chief

European Central Bank chief Christine Lagarde on Friday said that recovery prospects for global economy remain fragile amid continued uncertainty, fuelled by Russia's unjustified war against Ukraine

Banking crisis: No Europe contagion after US bank rescues, says ECB

Credit Suisse saw over $450 million in net outflows from its US and European managed funds from March 13 to 15, Morningstar Direct said on Friday

ECB supervisors meet over banking stress as US rescue eases immediate fears

The rescue package came less than a day after Credit Suisse clinched an emergency central bank loan of up to $54 billion to shore up its liquidity

Central banks, including RBI, may raise interest rates to combat inflation

ECB President Christine Lagarde has already said the bank till hike rates, if needed

European Central Bank outpaces US Federal Reserve with half-point hike

The European Central Bank has chugged ahead with another outsized interest rate increase, underlining its drive to subdue high inflation even as the European economy slows and the US Federal Reserve eases its pace of hikes. The bank raised its key benchmarks by half a percentage point Thursday and vowed a similar move in March. The Frankfurt-based policymakers are moving aggressively to get on top of price spikes that have slowed but are still hurting households in the 20 countries that use the euro currency. The bank said it will stay the course in raising interest rates significantly at a steady pace and in keeping them at levels that are sufficiently restrictive to ensure a timely return of inflation to its 2 per cent medium-term target." The Bank of England also went big with a half-point hike Thursday, but the Fed pulled back a day earlier, slowing to a quarter-point hike. While ECB President Christine Lagarde essentially announced the move at the bank's December meeting, her

Euro scales nine-month peak against US dollar as ECB hawks let fly

Investors also have around 50 basis points of U.S. rate cuts priced in for the second half of the year, reflecting softer data on inflation, consumer spending and housing

'Risk of recession' increased, expect to raise rates more: ECB's Lagarde

Lagarde said that the "risk of a recession" has increased, but that a downturn on its own won't be sufficient to tame soaring prices

Lagarde says removing stimulus 'not enough', ECB may raise rates further

European Central Bank President Christine Lagarde warned on Friday that the bank may have to raise interest rates beyond merely withdrawing stimulus and into territory that could restrain growth as the bank fights to control record inflation in the 19 countries that use the euro. We expect to raise rates further, and withdrawing accommodation may not be enough," Lagarde said in a speech at a banking forum in Frankfurt, Germany. She said the bank intended to bring inflation down in a timely manner and that how far we need to go, and how fast, will be determined by the inflation outlook. The ECB has raised rates at the fastest pace in its history to combat inflation that hit 10.7 per cent in the eurozone in October, the highest since statistics started being kept in 1997 and far above the bank's goal of 2 per cent. Inflation has been fed by high natural gas prices caused by Russia's cutbacks in gas supply during the war in Ukraine and by bottlenecks in supplies of parts and raw ...

External commercial borrowing of India Inc may stay muted in FY23

Approvals may be $30-35 bn in FY23, says ICRA

CreditAccess Grameen to raise Rs 15 crore via ECBs, says MD Udaya Kumar

Additionally, its public issue of non-convertible debentures (NCDs) worth up to 5 billion Indian rupees ($61.4 million) will launch on Nov. 14

European Central Bank pushes banks to speed up climate change work

The European Central Bank is warning that many of the financial institutions it oversees are moving too slowly to shield themselves and Europe's banking system from the impact of climate change, and it is setting new deadlines to meet those requirements. The ECB said some progress had been made but that a review of 186 banks published on Wednesday showed change was uneven and that the glass remains half full, top ECB official Frank Elderson said in a blog post on the central bank's website. The Frankfurt, Germany-based central bank for the 19 countries that use the euro currency set deadlines for banks to meet climate requirements by the end of 2024. The ECB, acting in its role as banking supervisor, is pushing banks to identify where they could face the risks of climate change and outline how they would take action. Banks are key to the European economy's functioning because most companies get the credit they need to operate from banks instead of from financial markets, the opposit

'Terrifying' Putin driven by 'evil forces,' says ECB's Christine Lagarde

Putin's attack on Ukraine is his attempt to "cause chaos and to destroy as much of Europe as he can," she said

Sensex rises 203 pts, Nifty ends near 17,800; Maruti zooms 5%, RIL 3%

Stock market wrap: Reliance alone contributed 231 points to the 30-share benchmark. Maruti, M&M and NTPC were the other major gainers. The Metal and IT sector witnessed selling pressure.

Sterling rises as Sunak prepares to become PM, euro awaits ECB hike

Sunak will become Britain's next prime minister, Downing Street said on Monday. Sunak was due to meet King Charles on Tuesday morning before speaking outside No. 10 Downing Street

Dollar wavers with ECB minutes and Friday's US jobs data in focus

Sterling gained 0.35% to $1.1359, and the dollar also slipped 0.5% against the Swiss franc to 0.9791 francs