Page 5 - Ecb

ECB set to halt rate hikes as Mideast war casts a shadow over economy

The European Central Bank is ready to leave interest rates unchanged Thursday for the first time in over a year as the Israel-Hamas war spreads even more gloom over already downbeat prospects for Europe's economy. It would be the bank's first meeting with no change after a torrid pace of 10 straight increases dating to July 2022 that pushed its key rate to a record-high 4 per cent. The ECB would join the U.S. Federal Reserve, Bank of England and others in holding borrowing costs steady albeit at the highest levels in years as inflation has eased. In Europe, inflation peaked at a painful 10.6 per cent in October for the 20 countries that use the Euro currency as Russia's war in Ukraine took a toll. Those high prices have been poison for consumer spending, draining household finances with added costs for necessities such as food, heat and electricity. But with inflation now down to 4.3 per cent, analysts expect the ECB to hold off on more hikes during its meeting in Athens. It is on

ECB looks to leverage AI to better understand inflation after big misses

Joining the masses of firms already using AI, the ECB is now exploring ways to process and analyse millions of data points, including public price data, corporate statistics

ECB hikes key interest rate to record high even as recession threat grows

Thursday's decision raises the ECB's benchmark deposit rate to 4%, up drastically from minus 0.5% just a little more than a year ago and the highest since the euro was established in 1999

Dollar hits 6-month high after data as ECB wraps up rate hiking cycle

U.S. retail sales increased by 0.6% in August, more than expected 0.2% rise, boosted by higher gasoline prices while weekly initial jobless claims rose to 220,000 but were below the 225,000 forecast

Brent holds above $90; markets await data for clues on Fed, ECB outlooks

The Federal Reserve is widely expected to leave interest rates unchanged at a policy meeting next week, though views are split over whether the Fed will hike or pause again in November

BofA expects to ECB hike all three policy rates by 25 bps next week

The brokerage expects "very little" forward outlook for the following meetings but said the bias would be towards pausing and not cutting rates

ECB's Philip lane sees inflation slowing significantly later this year

While price pressures won't hit the ECB's goal until sometime in 2025, the recent decline in energy will reduce costs across the economy before long, he said in a podcast produced by the central bank

Dollar slips before Fed decision, euro rises on ECB rate hike bets

The dollar index, a measure of the US currency against six major peers, fell 0.109% but was close to an almost two-week high touched on Tuesday

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