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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

☆ ECB's Makhlouf: Expect a change in rates in June in the absence of shocks
▼ + stars: | 2024-04-16 | 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 EmailECB's Makhlouf: Expect a change in rates in June in the absence of shocksGabriel Makhlouf, governor of the Central Bank of Ireland, tells CNBC's Karen Tso that he expects a change in the European Central Bank's policy on interest rates, barring any unexpected events.

Persons: Gabriel Makhlouf, Karen Tso Organizations: Central Bank of Ireland

☆ Irish central bank: EU to adopt broader approach to boost capital market
▼ + stars: | 2023-11-30 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

The bloc has introduced several "top down" reforms in a bid to boost its capital market, but progress has been modest and it continues to lag Wall Street in terms of breadth and depth, and company listings. Rowland said the push towards a deeper capital market would also focus on "bottom up" measures, such as steps taken at the national level, or initiatives by market participants. Speeding up EU capital market reforms has become more pressing since Brexit as Britain also eases capital market rules to become more globally competitive. They need to mobilise private capital," he said, adding that some bottom-up measures were already emerging, such as Italy's capital markets law, and a green industry law in France. Regulators in Britain and globally, however, have some concerns about whether assets in private markets have valuations that properly reflect the impact of higher interest rates and inflation.

Persons: Derville Rowland, Rowland, Huw Jones, Sharon Singleton, Bernadette Baum, Emelia Organizations: Central Bank of Ireland, European Commission, EU's, Markets Union, CMU, Publicly, EU, Regulators, Thomson Locations: Britain, France

REUTERS/Ken Cedeno/Pool/File Photo Acquire Licensing RightsDUBLIN Nov 8 (Reuters) - A rise in geopolitical tensions across the world could aggravate already subdued growth in Europe and China and the spillover may alter the path of the U.S. economy, Federal Reserve Governor Lisa Cook said on Wednesday. "We are not only watching subdued growth, we're watching the geopolitical tensions that we're all talking about, and that could change the outlook both in the United States and the global economy." Cook added that geopolitical tensions may in particular destabilize commodity markets and access to credit in the current higher interest rate environment. "Any shock could make the situation worse that we're already (in)... and could be destabilizing to commodity markets, could be destabilizing to the system of credit," Cook said. "More broadly, escalation of geopolitical tensions could lead to lower economic activity and increased fragmentation of global trade flows and financial intermediation, raising financing and production costs and contributing to more sustained supply chain challenges and inflationary pressures," Cook said.

Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, We're, Padraic Halpin, Conor Humphries, Ann Saphir, Lindsay Dunsmuir, Leslie Adler, Mark Potter Organizations: Governors, Federal Reserve System, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, DUBLIN, Federal, Central Bank of Ireland, Thomson Locations: Michigan, Washington ,, Europe, China, U.S, Dublin, United States, Ukraine, Russia, East, San Francisco

☆ Coinbase picks Ireland as its main EU regulatory hub as U.S. authorities go on the offensive
▼ + stars: | 2023-10-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

If and when it is approved, Coinbase will have a universal "MiCA license" in Ireland, which it can then use to "passport" its services into Germany, France, Italy, the Netherlands and other EU countries. The rules will allow crypto companies to use one license in one country to operate across all 27 EU member states. Currently, Coinbase has an electronic money institution license and virtual asset service provider registration in Ireland; a crypto license in Germany; and national registrations in other EU member states including Italy, the Netherlands and Spain. Paul Grewal, Coinbase's chief legal officer, said that progress has been "slower" than he'd like when it comes to achieving crypto regulation in the U.S. "We're now seeing in court cases real questions being asked about the U.S. approach to crypto regulation and in particular securities regulation," he said.

Persons: Coinbase, Nana Murugesan, we've, Murugesan, Paul Grewal, isn't, Grewal, CNBC's Arjun Kharpal — Organizations: Getty, European Union, CNBC, Central Bank of Ireland, EU, U.S . Securities, Exchange Commission, SEC Locations: Crypto, Dublin, Ireland, Germany, France, Italy, Netherlands, Spain, U.S, San Francisco, United States, Central, Northern, Western Europe, North America, Europe, headcount

☆ Irish government considering targeted mortgage interest relief scheme - PM
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Sept 15 (Reuters) - Ireland is considering reintroducing tax relief on mortgage interest payments but any scheme is likely to be limited to borrowers hit hardest by rising interest rates, Prime Minister Leo Varadkar said on Friday. The government ended a broader scheme in 2020 that had offered tax relief to borrowers who had taken out mortgages in the lead-up to and aftermath of Ireland's 2008 banking crash. Ministers have come under pressure from opposition politicians to reopen the scheme with each European Central Bank rate hike, most recently on Thursday when policymakers pushed the euro zone's key interest rate to a record high of 4%. Data on Friday from Ireland's central bank showed that the total stock of mortgages in arrears fell 4% quarter-on-quarter in the three months to June. (This story has been refiled to correct photo)Reporting by Padraic Halpin; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

Persons: Leo Varadkar, Varadkar, Derville Rowland, Padraic Halpin, Sachin Ravikumar Organizations: DUBLIN, Ministers, European Central Bank, Central Bank of Ireland, Thomson Locations: Ireland, Ireland's

☆ ECB chief economist warns markets against pricing in rate cuts within the next two years
▼ + stars: | 2023-06-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

European Central Bank Chief Economist Philip Lane on Tuesday warned markets against pricing in cuts to interest rates within the next two years. Earlier this month, the ECB hiked its main rate by 25 basis points to 3.5%, making the latest in a series of increases since July 2022, as policymakers strive to reel in record-high inflation in the euro zone. Headline inflation across the bloc came in at an annual 6.1% in May, down from 7% the previous month. "Where I do think the market should ask itself questions is about the timing or the speed of reversal of restrictive policy," Lane said. His comments echoed those of ECB President Christine Lagarde, who said in a keynote address Tuesday that the central bank had made "significant progress" but "cannot declare victory yet."

Persons: Philip Lane, CNBC's Annette Weisbach, Lane, it's, Christine Lagarde Organizations: European Central Bank, ECB, Central Bank of Ireland Locations: Sintra, Portugal

☆ ECB's Makhlouf expects 50 bps rate hike in December
▼ + stars: | 2022-12-05 | by ( Padraic Halpin | ) www.reuters.com time to read: +3 min

DUBLIN, Dec 5 (Reuters) - The European Central Bank is likely to raise interest rates by 50 basis points (bps) in its December meeting, governing council member Gabriel Makhlouf said, while stressing that the rates may have to move into "restrictive territory" next year. Makhlouf told journalists after the speech that the governing council was likely to settle on a 50 bps increase. French central bank chief Francois Villeroy de Galhau said on Sunday he favoured a 50 bps increase. We have to be open to policy rates moving into restrictive territory for a period," said Makhlouf, Governor of the Central Bank of Ireland. "It is premature to be talking about the end-point for policy rates amid the prevailing levels of uncertainty."

☆ EU seeks better alignment with global sustainability rules
▼ + stars: | 2022-11-03 | by ( Huw Jones | Nita Bhalla | ) www.reuters.com time to read: +2 min

LONDON, Nov 3 (Reuters) - The European Union sought on Thursday to reassure international companies it would seek to align its sustainability disclosure rules with a global initiative, after warnings from regulators over fragmenting capital markets. The International Sustainability Standards Board (ISSB) is writing global baseline standards for corporate disclosures on climate for use in non-EU countries such as Britain, while the United States is working on its own disclosure rules. "We want to see as much alignment as possible with the work of the International Sustainability Standards Board, even though as I have said Europe is likely to go further and faster to meet our more higher ambitions on climate," McGuinness said. She is moving to the next stage of the EU's green plans by assessing how best to encourage sustainable retail lending for small firms and households. "With the support of the European Banking Authority, we are examining what needs to be done to promote the growth of green loans and green mortgages," McGuinness said.

☆ Britain to go it alone for now on reining in 'shadow banking'
▼ + stars: | 2022-11-02 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

Britain hopes the LDI crisis creates momentum for comprehensive global reform to improve data and liquidity in the sector. In Britain the Financial Conduct Authority (FCA) regulates UK-based managers of LDI funds, and The Pensions Regulator (TPR) regulates pension schemes. UK regulators face pushing ahead alone, for now, hoping global reforms eventually pressure others to follow suit. Most LDI funds are listed in European Union states like Luxembourg and Ireland, meaning structural changes would rely on the bloc. The Central Bank of Ireland said it has stepped up data collection, analysis and engagement with LDI funds.

☆ Going above neutral in interest rates may very well be in the cards, says ECB chief economist
▼ + stars: | 2022-09-29 | 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 EmailGoing above neutral in interest rates may very well be in the cards, says ECB chief economistPhilip Lane, former Central Bank of Ireland governor and European Central Bank chief economist, joins 'Squawk on the Street' to discuss if the ECB is worried about market functioning and liquidity, if raising rates in Europe could cause markets to 'break' and guidance into the ECB's future moves.

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