World News

ECB maintains copious stimulus even as recovery takes hold

The European Central Bank an elevated flow of stimulus as expected on Thursday, fearing that any retreat now would accelerate an already worrisome rise in borrowing costs and choke off…

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UPDATED: Berlin faces legal steps as EU aims to ensure primacy of bloc’s law

The European Commission on Wednesday started a legal procedure against Germany, aiming to force Berlin to ascertain the primacy of European law over national court decisions after Germany's highest court…

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ECB’s Knot: Dutch, European, world economies recovering quicker than expected

The head of the Netherlands' Central Bank Klaas Knot said on Wednesday the Dutch economy is recovering more quickly than expected from the economic crisis caused by the coronavirus pandemic.…

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Digital euro could boost single currency’s international use, ECB says

Creating a digital euro could boost the single currency's international status by making it easier to use for paying or saving, the European Central Bank said on Wednesday. The European…

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ECB’s Lagarde says too early to discuss life after emergency support

It is still too early for the European Central Bank to discuss winding down its 1.85 trillion euro emergency bond purchase scheme, ECB President Christine Lagarde said, less than two…

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Recovery from coronavirus will be long, says ECB Economist Lane -Le Monde

The road to recovery from the coronavirus pandemic will be long with the unemployment rate in the euro zone not returning to its 2019 level before 2023, ECB Chief Economist…

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ECB can phase out emergency stimulus as vaccinations pick up

The European Central Bank can start to phase out emergency stimulus measures when the pace of coronavirus vaccinations reaches a critical level and the economy picks up speed, Luis de…

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ECB survey sees slower growth, faster inflation this year

The euro zone economy will grow slower this year than earlier thought while a temporary surge in inflation is likely to exceed a previous projection, a key European Central Bank…

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From chips to drivers, euro zone firms warn supply is tight: ECB

Euro zone manufacturers cannot get enough computer chips and other key inputs to keep up with growing demands, resulting in lower economic activity and higher prices, the European Central Bank…

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ECB policy should remain accommodative in coming years, Villeroy tells BBG

The European Central Bank's monetary policy should remain accommodative in coming years, ECB policymaker Francois Villeroy de Galhau said on Wednesday. Villeroy, who is also Bank of France governor, also…

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Europeans want digital euro to be private, safe and cheap: ECB survey

Euro zone citizens expect the European Central Bank's proposed digital euro to be private, safe and cheap, an ECB survey showed on Wednesday. The ECB is working on creating an…

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ECB’s Schnabel warns against blocking the EU’s recovery fund

European Central Bank board member Isabel Schnabel has warned against attempts to block the European Union's Recovery Fund, saying such a step would be an "economic disaster for Europe". The…

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EU rescue funds agreement compatible with EU treaties, ECB’s de Cos says

The European Union agreement to disburse rescue funds to member countries funded by common debt is compatible with EU treaties, European Central Bank Governing Council member Pablo Hernandez de Cos…

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ECB’s Panetta says digital euro may still be five years away

The European Central Bank could decide around mid-year whether to proceed with a digital euro but the formal launch of the currency may still be around five years away, ECB…

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ECB’s Lagarde warns stimulus may take some time to show up

The European Central Bank may need some time before the recently agreed acceleration in the pace of money printing, part of its efforts to cushion the fallout of the COVID-19…

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ECB wants veto power on stablecoins in the euro zone

The European Central Bank wants veto power on the launch of stablecoins such as Facebook's Diem in the euro zone and a greater role in their supervision, it has told European Union lawmakers. Central…

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ECB to stress test 38 euro area banks as part of the 2021 EU-wide stress test

he European Central Bank (ECB) will examine 38 significant euro area banks as part of the 2021 EU-wide stress test coordinated by the European Banking Authority (EBA). In line with the…

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UPDATED: ECB keeps copious stimulus measures unchanged

The European Central Bank left its ultra-easy policy unchanged as expected on Thursday but kept the door open to more stimulus as the outlook sours amid a spreading COVID-19 pandemic.…

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ECB to unveil yet another stimulus package

The European Central Bank will unveil fresh stimulus measures on Thursday to prop up the recession-hit currency bloc long enough for a coronavirus vaccine to be deployed and its devastated…

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ECB says Euro zone consumers go cashless as pandemic boosts cards’ appeal

Euro zone consumers have been paying more with cards and less with cash since the coronavirus pandemic began, and they plan to continue doing so after it ends as shops…

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Italian PM’s closest aid says ECB should consider wiping out pandemic debt

The European Central Bank should consider cancelling out or holding forever the government debt it buys during the current crisis to help nations recover and restructure, a top Italian government…

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ECB’s Weidmann calls on central banks to address climate-related financial risks

Bundesbank President Jens Weidmann on Thursday called on the Eurosystem, which includes the European Central Bank (ECB) and the euro zone's 19 central banks, to consider climate-related financial risks before…

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UPDATED: Presenting gloomy outlook, Lagarde calls for unlocking EU aid

European Central Bank President Christine Lagarde called on European Union leaders on Thursday to end a potentially damaging budget impasse and unlock aid for a region that is facing a…

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Pandemic no excuse for UK banks not to move staff to Europe, says ECB

UK-based banks looking to continue doing business in the euro zone after the Brexit transition period must move staff to the continent and not use the pandemic as an excuse…

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Europe’s insurance deposit scheme still years away: ECB

A European Deposit Insurance Scheme, long advocated by the European Central Bank, is unlikely to be agreed on in the coming years, ECB bank supervisor Andrea Enria said on Wednesday.…

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ECB’s De Cos says it will take time before COVID vaccine has positive impact on economy

It will take time before any COVID-19 vaccine has a positive impact on the economy, European Central Bank policymaker Pablo Hernandez de Cos said on Friday, stressing that bold economic…

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Europe’s banks could face even bigger pandemic hit, says ECB

Credit risk in the euro zone's banking sector is very high and deterioration in asset quality could become much worse in the second wave of the COVID-19 pandemic, European Central…

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COVID-19 restrictions may lead to economic contraction in Europe, ECB’s De Cos says

Newly introduced restrictions to contain the coronavirus epidemic could slow economic recovery or even lead to a contraction in Spain and other European countries in the fourth quarter, European Central…

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ECB’s Visco says worsening COVID picture could hit euro zone recovery

Growing coronavirus infection numbers are putting at risk the prospects for continued economic recovery in Italy and the euro zone as a whole, Bank of Italy Governor Ignazio Visco said…

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ECB to signal more stimulus as second-wave recession fears grow

The European Central Bank is expected to resist pressure to unveil fresh stimulus measures on Thursday but it is likely to pave the way for action in December as fresh…

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ECB President says Europe must not delay recovery fund

Europe must distribute its 750 billion euro recovery fund for the pandemic-hit economy promptly and should debate creating a permanent fiscal tool for the bloc, European Central Bank President Christine…

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Interest rates in euro zone likely to stay low for years

Interest rates in the euro zone are very likely to remain at their current historically low levels in the coming years, European Central Bank (ECB) governing council member Klaas Knot…

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ECB could live with some inflation overshoot to help employment: Rehn

The European Central Bank should follow the U.S. Federal Reserve in putting more emphasis on welfare when it's setting policy, even if that would mean inflation exceeded its target temporarily,…

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ECB is watching out for pandemic-induced credit crunch

The European Central Bank is watching out for signs of a credit crunch as banks see their profits wiped out by the coronavirus pandemic and brace for a wave of…

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ECB urged to prepare to issue a digital euro

The European Central Bank must prepare to issue a digital euro to complement banknotes "if and when" it becomes necessary, ECB board member Fabio Panetta said on Friday. Major central…

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ECB plans more intrusive checks on bank directors

The European Central Bank plans stricter and more intrusive checks on the suitability of bank directors, hoping to close national loopholes, ECB board member Yves Mersch said in an editorial…

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Slovenia, Netherlands to compete for ECB board job

Frank Elderson of the Netherlands and Bostjan Jazbec of Slovenia were the only two candidates put forward by their respective countries as candidates to succeed Yves Mersch at the executive…

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ECB Bulletin warns Euro zone unemployment will continue to rise

Unemployment will continue to rise in the euro zone and there is little upside in demand for consumer goods even as the economy recovers from an unprecedented recession, the European…

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ECB’s Visco says efficient public administration in Italy more important than state lender

European Central Bank governing council member Ignazio Visco said on Wednesday Italy would benefit more from reforms to its public administration than from the creation of a large public lender…

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ECB to supervise five Bulgarian, eight Croatian banks

The European Central Bank will take direct supervision of five banks in Bulgaria and eight in Croatia, countries that have both applied to join the euro zone, it said in…

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ECB may set stage for more stimulus measures

The European Central Bank is all but certain to keep policy unchanged on Thursday but with the economic recovery losing momentum and a strong euro dampening already-anaemic inflation expectations, it…

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Climate change bigger economic risk than pandemic, ECB’s Schnabel says

The coronavirus pandemic demonstrates in the clearest terms why central banks must take a bigger role in fighting climate change even if the issue at first appears unrelated to monetary…

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COVID-19 and German constitutional court decision top meeting with ECB’s Lagarde

MEPs quizzed ECB President Christine Lagarde for the first time since the pandemic and the German constitutional court’s ruling on the ECB’s bondbuying programme. During the quarterly ‘Monetary Dialogue’ with…

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German court rules ECB bond-buying programme as legal, wants re-assurances on cost-benefit analysis

Germany’s top constitutional court has ruled the European Central Bank's vast debt purchasing programme as legal, but ordered the German Government to ensure that the ECB has carried out a…

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ECB launches emergency €750bn coronavirus package

The European Central Bank (ECB) has launched an emergency €750bn package to ease the impact of the coronavirus pandemic. It will buy government and company debt across the eurozone, including…

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ECB’s Lagarde Warns of 2008-Style Crisis Unless Europe Acts

European Central Bank President Christine Lagarde said Europe risks a major economic shock echoing the global financial crisis unless leaders act urgently on the coronavirus outbreak, and signaled that her…

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Lagarde discusses the European Central Bank’s policy revamp with MEPs

ECB President Christine Lagarde, on Thursday fielded questions from the Economic and Monetary Affairs Committee on the review of the bank’s monetary policy. In her opening remarks, Ms Lagarde set…

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Photo Story: ‘Slight’ change to €20 note

A close-up image of the signature of the European Central Bank (ECB) President Christine Lagarde on the new 20 Euro banknote in Frankfurt am Main, Germany. The signing of new…

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Euro zone urged to strengthen domestic demand

The euro zone needs to strengthen domestic demand, including via greater public investment, if it is to withstand weakness abroad, the European Central Bank’s new President Christine Lagarde said on…

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Lagarde urges Europe to overcome self doubt in its first speech as ECB President

Christine Lagarde steered clear of monetary policy in her first speech as European Central Bank president, calling instead for “strength, resolve and courage” in the region at an award ceremony…

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Draghi on his farewell appeals for more Europe, not less Europe

Mario Draghi handed over to Christine Lagarde as European Central Bank chief Monday saying it was "easier to say goodbye knowing that the ECB is in good hands". "It is…

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Euro zone corporate lending growth plunges in Sept

Bank lending to euro zone companies plunged last month, suggesting that the bloc’s economic slowdown is finally slowing lending after a period of surprising resilience, data from the European Central…

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No regrets says Draghi as he leaves the helm of ECB

European Central Bank President Mario Draghi said Thursday he had no regrets after completing his eight-year term at the head of the institution. "How do I feel? I feel like…

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ECB loose monetary policy – Lawrence Zammit

Last week Mario Draghi, the outgoing president of the European Central Bank, announced that the ECB had decided to cut one of its key interest rates, the one charged on…

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European Parliament approved Lagarde’s nomination as ECB president

The European Parliament backed Christine Lagarde on Tuesday as the next president of the European Central Bank, paving the way for her to become the first woman to hold the…

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ECB to test five Croatian banks

The European Central Bank said on Wednesday it would carry out a stress test of five Croatian banks, a preliminary step in Zagreb’s bid to join the euro zone. Zagrebačka…

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EU’s 2018 bank stress test considered too mild

Last year’s European Union bank stress test did not appropriately reflect systemic risks, EU auditors said on Wednesday, a shortfall that may have produced misleading results for some lenders,…

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