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☆ Here's what 12 European Central Bank members said about interest rates this week
▼ + stars: | 2024-04-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +7 min

The ECB opted to hold rates steady in April and next meets to vote on monetary policy on June 6. Christine Lagarde, president of the ECBThe ECB's figurehead delivered a firm message that reflected her statements in recent press conferences: markets should expect an interest rate cut soon, barring major surprises. watch nowGabriel Makhlouf, governor of the Central Bank of IrelandMakhlouf said the most recent data sets had shifted his view on rates. "We don't follow the Fed... and now the ECB will be the central bank to be followed," Šimkus said. One could have cut rates way back in March or even April," he continued, adding that he hoped a majority of Governing Council members would back a June cut.

Persons: Kirill Kudryavtsev, Christine Lagarde, Lagarde, CNBC's Sara Eisen, Galhau, Villeroy, Karen Tso, Joachim Nagel, Germany's, Nagel, Robert Holzmann, Mario Centeno, Centeno, Gabriel Makhlouf, Central Bank of Ireland Makhlouf, we've, Makhlouf, Pierre Wunsch, Wunsch, Boris Vujčić, Jerome Powell, Vujčić, Gediminas Šimkus, Bank of Lithuania Šimkus, Šimkus, Edward Scicluna, Central Bank of Malta Scicluna, Kazāks, Bank of Latvia Kazāks, Olli Rehn, Rehn Organizations: Afp, Getty, International, European Central Bank, CNBC, ECB, Bank of France, Council, Austrian Central Bank One, Bank of Portugal, Central Bank of Ireland, National Bank of, Croatian National Bank, Federal, U.S, Bank of Lithuania, Central Bank of, Governing, Bank of Locations: Frankfurt, Germany, New York, ECB's, National Bank of Belgium, U.S, Europe, Central Bank of Malta, Bank of Latvia, Bank of Finland

☆ Watch CNBC's full interview with ECB policymaker Mario Centeno
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with ECB policymaker Mario CentenoMario Centeno, Governor of the Bank of Portugal, discusses the inflation outlook, and shares his views on prospective ECB rate cuts.

Persons: Mario Centeno Mario Centeno Organizations: ECB, Bank of Portugal

☆ Centeno says ECB remains data dependent, inflation moving in right direction
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCenteno says ECB remains data dependent, inflation moving in right directionBank of Portugal Governor Mário Centeno discusses the economic and inflationary outlook at the World Economic Forum 2024.

Persons: Centeno, Mário Centeno Organizations: Bank of Portugal

☆ Bank of Portugal imposes capital buffer for mortgages at four large banks
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

A man walks with his dog outside Bank of Portugal in downtown Lisbon, Portugal, February 21, 2017. REUTERS/Rafael Marchante/File Photo Acquire Licensing RightsLISBON, Nov 15 (Reuters) - The Bank of Portugal has told Millennium bcp (BCP.LS), Novo Banco, Banco BPI and the local unit of Spain's Santander (SAN.MC), to create a new capital buffer equivalent to 4% of their loan portfolios that are collateralised by home mortgages. It said in a statement on Wednesday the measure addressing "sectoral systemic risk" would come into effect on Oct. 1, 2024, and be reviewed at least every two years. "This instrument has a preventative nature and aims to increase the resilience of institutions in the face of a potential future materialisation of systemic risk in the residential real estate market in Portugal," it said. BPI is owned by Spain's Caixabank and Novo Banco by the U.S. fund Lone Star.

Persons: Rafael Marchante, Spain's Caixabank, Sergio Goncalves, Andrei Khalip Organizations: Bank of Portugal, REUTERS, Rights, Bank of, bcp, Novo Banco, Banco BPI, Spain's Santander, BPI, U.S, Lone Star, Thomson Locations: Lisbon, Portugal, Rights LISBON, Bank of Portugal, Novo

☆ Centeno says outgoing Portugal PM only invited him to ponder on premiership
▼ + stars: | 2023-11-13 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

LISBON, Nov 13 (Reuters) - Bank of Portugal Governor Mario Centeno, who is under fire from the opposition over an invitation by the outgoing prime minister to replace him as premier, said on Monday he never accepted the offer but was just asked to ponder on the matter. Portuguese opposition parties on Friday argued that such an invitation compromised the political independence of a central bank governor. The Bank of Portugal's ethics committee is expected to meet on Monday to evaluate his conduct. Prime Minister Antonio Costa stepped down on Tuesday over an investigation into alleged illegalities in his government's handling of lithium and hydrogen projects and a large-scale data centre. Centeno announced his departure from the finance ministry in June 2020, during Costa's second term, and was nominated to head the bank a month later.

Persons: Mario Centeno, Antonio Costa, illegalities, Costa, Marcelo Rebelo de Sousa, Centeno, Rebelo de Sousa, Olli Rehn, Balazs Koranyi, Francesco Canepa, Andrei Khalip, Bernadette Baum Organizations: Bank of Portugal, Socialist, European Central Bank policymaker, Bank of, ECB, Thomson Locations: LISBON, Portuguese, Bank of Portugal, ECB's, Finland, Frankfurt

☆ Portuguese Central Bank to Assess Governor's Conduct - Local Media
▼ + stars: | 2023-11-11 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LISBON (Reuters) - The Bank of Portugal's ethics committee will meet on Monday to evaluate the conduct of governor Mario Centeno, whose independence came into question after the departing prime minister proposed him as a potential replacement, local media said. Local media reported that Centeno had agreed to let his name go forward, raising concerns that his links to the PS remained strong and calling into question his independence if he remained central bank governor. Rebelo de Sousa rejected Costa's proposal and called the election instead. Centeno's quick move from the finance ministry to the central bank in July 2020, during Costa's second term, had previously raised eyebrows. A central bank spokesperson said it was up to the committee to comment on the matter.

Persons: Mario Centeno, Antonio Costa, illegalities, Marcelo Rebelo de Sousa, Costa, Rebelo de Sousa, Centeno, Costa's, Joaquim Miranda Sarmento, Negocios, Catarina Demony, Sergio Goncalves, Kevin Liffey Organizations: Bank, Socialist, European Central Bank policymaker, Local, Social Democrats, Eco, Jornal Locations: LISBON

By law, an election needs to be held within 60 days of the publishing of the presidential decree dissolving parliament. "I hope that time, sooner rather than later, will allow us to clarify what happened," Rebelo de Sousa said. By calling the March election, Rebelo de Sousa also addressed the need of the PS to pick a new leader to run. Earlier, PS President Carlos Cesar said March would be the best timing, while other parties pointed to January or February. "It is urgent to reestablish trust and prestige in democratic institutions," the leader of the PSD, Luis Montenegro, said after the president announced the election.

Persons: Marcelo Rebelo de Sousa, Rebelo de Sousa, Antonio Costa, illegalities, Costa, Rebelo, Mario Centeno, Filipe Garcia, Mercados, Carlos Cesar, Andre Ventura, Luis Montenegro, Catarina Demony, Sergio Goncalves, Andrei Khalip, Marguerita Choy, Alistair Bell Organizations: Lawmakers, Socialist, Socialist Party, of State, Prosecutors, Bank of Portugal, Social Democrats, PSD, Thomson Locations: LISBON, Portugal, Portuguese, Lisbon, Belem, Europe, Western, Montenegro

☆ European stocks open higher as positive momentum continues; UK GDP meets expectations
▼ + stars: | 2023-10-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The regional Stoxx 600 index was up 0.5% in early trade with all sectors in the green. The Stoxx closed at a three-week high on Wednesday after notching its best one-day performance in 11 months on Tuesday. Attention will be on the consumer price index released later today. European Central Bank officials also continued to reinforce the message that rates may have peaked. Elsewhere, figures published Thursday morning showed the U.K. economy grew 0.2% month-on-month in August, in line with economists' expectations.

Persons: Mario Centeno Organizations: U.S . Federal, European Central Bank, Bank of Portugal, CNBC, ECB

☆ ECB done with hikes barring unforeseen shocks, Bank of Portugal's Centeno says
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB done with hikes barring unforeseen shocks, Bank of Portugal's Centeno saysGovernor of the Bank of Portugal Mario Centeno discusses peak rates, the risks of overtightening, ECB tools and the euro zone economy.

Persons: Portugal's Centeno, Bank of Portugal Mario Centeno Organizations: Bank, Portugal's, Bank of Locations: Bank of Portugal, overtightening

☆ Portugal approves 30% cut in mortgage rates for struggling borrowers
▼ + stars: | 2023-09-21 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

LISBON, Sept 21 (Reuters) - Portugal's government said on Thursday that banks must discount the benchmark six-month Euribor rate by 30% when calculating mortgage interest rates if asked to do so by borrowers struggling to deal with rising interest rates and avoid default. Around 90% of Portugal's stock of 1.4 million mortgages have variable rates indexed to euro interbank offered rates (Euribor) , one of the highest levels in the euro zone. But interbank rates have soared as the European Central Bank hiked interest rates from record lows. "As a result of this measure, the implied interest rate on mortgages cannot exceed 70% of the six-month Euribor rate in the next two years," Finance Minister Fernando Medina told a news briefing. Those with mortgages indexed to three- and 12-month Euribor rates will also receive a discount equal to the nominal amount resulting from the cut in the six-month rate, he added.

Persons: Fernando Medina, Banks, Medina, Mario Centeno, Association of Portuguese Banks APB, Sergio Goncalves, Andrei Khalip, Kirsten Donovan Organizations: European Central Bank, Finance, Bank of Portugal, Association of Portuguese, Thomson Locations: LISBON

CFTC data show that funds and speculators are holding a chunky net short yen position worth around $8.2 billion. Contrast that with the euro position, and it is not difficult to envisage a potential narrowing of the gulf in the weeks and months ahead. Citi's U.S. economic surprises index has been positive since May and the euro zone index has been in negative territory since May. Euro zone interest rate traders reckon the ECB is done raising rates, and are now betting on around 70 bps of rate cuts next year. "Today's ECB policy update and stronger U.S. data for Q3 is further encouraging those expectations placing downward pressure on EUR/USD," MUFG's Lee Hardman wrote on Thursday.

Persons: Pedro Nunes, gunning, MUFG's Lee Hardman, Jamie McGeever, David Evans Organizations: Bank of, REUTERS, Rights, Central, ECB, U.S, HSBC, Futures, CFTC, Bank of Japan, Deutsche Bank, Reuters, Thomson Locations: Bank of Portugal, Carregado, Alenquer, Portugal, Rights ORLANDO , Florida, U.S

☆ Euro zone growth risks materialising, warranting ECB caution: Centeno
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

The ECB is debating whether to raise rates again in September to combat stubborn underlying price growth or pause given the weakening outlook that is now raising recession fears. "We need to be very cautious about our decisions, because a lot has been done," Centeno told the Reuters Global Markets Forum. "The labour market in Europe is performing in a novel way... I see a degree of flexibility in the European labour market that we were not used to see in the past," Centeno said. "This will ease wage pressures in our labour market, contrary to what we have [been used to] in the past."

Persons: Mario Centeno, Pedro Nunes, Centeno, Mehnaz Yasmin, Balazs Koranyi, Alison Williams, Mike Harrison Organizations: Bank of Portugal, European Central Bank, Bank of, REUTERS, Rights, ECB, Reuters Global Markets, Thomson Locations: Bank of Portugal, Carregado, Alenquer, Portugal, Europe

☆ The ECB is getting close to the terminal rate, says Governing Council member
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe ECB is getting close to the terminal rate, says Governing Council memberThe ECB should be predictable on the path for rates after the summer break, says Bank of Portugal Governor Mario Centeno, who discussed when the central bank might stop hiking — or reach the so called terminal rate.

Persons: Mario Centeno Organizations: ECB, Bank, Portugal

☆ 'We can achieve more with less,' ECB's Centeno says on monetary policy
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We can achieve more with less,' ECB's Centeno says on monetary policyMario Centeno, governor of the Bank of Portugal, tells CNBC's Joumanna Bercetche that the ECB will be watching the data before deciding its next steps, but also says he has one key message: "We can achieve more with less."

☆ ECB's Centeno projects 'a few' more rate hikes in the next couple of meetings 'at least'
▼ + stars: | 2023-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

DAVOS, Switzerland — There will be "at least" a few more rate hikes in the next couple of meetings, an ECB member told CNBC Tuesday. December inflation came in at 9.2% in the euro zone, according to preliminary numbers. "We have and can expect a few more rate hikes in the next couple of meetings at least," Mario Centeno, Governor of the Bank of Portugal, said in Davos. The latest ECB projections suggest a growth rate of 0.5% for the euro zone in 2023, followed by 1.9% in 2024. Economists have become more positive on the euro zone outlook in recent weeks.

☆ ECB’s Centeno says all forecasts show growth picking up in the second half of 2023
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB’s Centeno says all forecasts show growth picking up in the second half of 2023European Central Bank board member and Bank of Portugal Governor Mario Centeno discusses the growth outlook for the euro zone and the likelihood of further interest rate hikes.

☆ Morning Bid: Paging Mr. Powell
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

Asian stocks edged lower on Tuesday after recent gains even as Asian tourism-focused businesses geared up for a return of Chinese tourists after the country's borders reopened on Monday. Later on Tuesday, Fed boss Powell is set to make a speech that could give further clarity on the pace of rate hikes while U.S. inflation data out on Thursday will further cement expectations. In Japan, consumer inflation exceeded the central bank's 2% target for a seventh straight month in a sign of broadening inflationary pressure. Reuters Graphics Reuters GraphicsMeanwhile, the French need to prepare to work longer than they do now. Reporting by Anshuman Daga; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

LISBON, Nov 23 (Reuters) - Further consolidation of Portugal's banking sector is inevitable, European Central Bank member Mario Centeno told Reuters on Wednesday, calling "remarkable" the recent progress the country's banks have made on strengthening capital and reducing risk. Analysts have said that Portuguese banks should bet on M&A operations to achieve better competitive conditions, despite the five largest players' owning 80% to 85% of banking assets. Portugal's banks are still scarred from a debt crisis and a spike in NPLs after the 2010-13 recession. The NPL ratio for Portugal's lenders was 3.4% of total credit in June, versus 17.9% in mid-2016. "Although I am very satisfied with the evolution...there is no point in resting, we have to challenge ourselves," Centeno said.

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