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☆ ECB's Lagarde responds to scathing staff survey: 'I'm very proud and honored to lead the institution'
▼ + stars: | 2024-01-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde looks on as she attends the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023. President Christine Lagarde on Thursday said she was "proud and honored" to leead the European Central Bank, after her leadership was slammed in a union-run survey of staff. The survey's qualitative responses suggested some staff believed she had created a negative atmosphere at the central bank, and that she spends "too much time on topics unrelated to monetary policy," IPSO said. Appearing unfazed, former politician and lawyer Lagarde said that the ECB conducted its own surveys in a "way that we can trust." The surveys are conducted by around 60% of employees, and also cover wages, respect in the workplace and workplace satisfaction, she said.

Persons: Christine Lagarde, IPSO, Lagarde Organizations: European Central Bank, European Parliament's, Economic, Monetary Affairs, ECB, IPSO Locations: Brussels, Belgium

☆ Morning Bid: Powell's final shot to shape markets before December Fed meeting
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Markets are now fully pricing a rate cut by the May meeting with almost a 50% chance they move in March, according to the CME's FedWatch tool. Reuters GraphicsThe 10-year yield is down around 15 basis points and on Thursday hit its lowest level in 2-1/2 months at 4.247%. On Wednesday, the dollar index , which measures the currency against six major peers, touched its lowest level since Aug. 11 and dropped over 3% last month, its worst month in a year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Samuel Indyk, Jerome Powell's, Powell, Christopher Waller, Europe's, Fed's, Fed's Cook, ECB's, Fitch, Toby Chopra Organizations: Wall, REUTERS, Federal, Fed, Spelman College, Reuters, COVID, P Global, PMI, Thomson Locations: New York, U.S, France, Greece, Ireland, DBRS, Germany, Spain

The dollar index , which measures the currency against six major peers, slipped 0.1% to 103.37 and was headed for a monthly loss of more than 3%, its worst performance since November 2022. The market is also eyeing a rate decision from the Reserve Bank of New Zealand and Chinese purchasing managers' index (PMI) data. In other currencies, the euro was little changed against the dollar at $1.0937 . Against the yen, the dollar fell 0.4% to 148.885 yen . The dollar extended losses after data showed U.S. new home sales fell more than expected in October, dropping 5.6% to a seasonally-adjusted annual rate of 679,000 units.

Persons: ECB's Lagarde, Helen, Christine Lagarde's, Gertrude Chavez, Dreyfuss, Samuel Indyk, Rae Wee, Toby Chopra, Mark Potter, Paul Simao Organizations: U.S, Federal Reserve, Monex USA, Fed, European Central Bank, Bank of England, Reserve Bank of New, Australian, greenback, New, Thomson Locations: U.S, Washington, OPEC, Australia, Reserve Bank of New Zealand, New Zealand, China, New York, London, Singapore

☆ ECB's Lagarde: Increasing signs that the global economy is fragmenting into competing blocs
▼ + stars: | 2023-11-17 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde looks on as she attends the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023. Yves Herman | ReutersEuropean Central Bank President Christine Lagarde on Friday said that Europe is now at a critical juncture, with deglobalization, demographics and decarbonization looming on the horizon. "There are increasing signs that the global economy is fragmenting into competing blocs," she said at the European Banking Congress, according to a transcript. "As our societies age, we will need to deploy new technologies so that we can produce greater output with fewer workers. And as our climate warms, we will need to advance the green transition without any further delays."

Persons: Christine Lagarde, Yves Herman, Lagarde Organizations: European Central Bank, European Parliament's, Economic, Monetary Affairs, Reuters, Central Bank, European Banking Congress Locations: Brussels, Belgium, Europe

☆ Morning Bid: Waiting for word from the Fed chief
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Federal Reserve Board Chair Jerome Powell answers a question at a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., November 1, 2023. Last week's surprisingly soft jobs data heightened expectations that interest rates had peaked, but Fed commentary since then has warned against complacency in the fight against inflation. For now, investors have dialled up wagers on near-term rate cuts, with the Fed funds rate showing better than 50/50 odds for one as early as May. In Asia time, long-term Treasury yields are stuck around 4.58% and the dollar is biding its time around $1.07 per euro. While the Fed outlook dominates investors' attention, there is plenty of central bank speak in store from Europe as well.

Persons: Jerome Powell, Kevin Lamarque, Kevin Buckland, Jay Powell, Christine Lagarde, Philip Lane, Joachim Nagel, Pablo Hernandez de Cos, Andrew Bailey, Fed's Powell, Lagarde, BoE's Bailey, Edmund Klamann Organizations: Federal, Committee, Federal Reserve, REUTERS, Kevin, Kevin Buckland Markets, Reuters Graphics, Bank of Spain, Bank of England, Adidas, Airbus, Bayer, Continental, Credit Agricole, Federal Reserve Division of Research, Statistics, Thomson Locations: Washington , U.S, Asia, Europe, Germany, Brussels, Irish

☆ ECB's Lagarde: confident over 2% inflation target and Europe's winter gas situation
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman/File Photo Acquire Licensing RightsSummary Interview done on Oct 2, published on Oct 8Lagarde: confident over ECB's 2% inflation targetLagarde relatively confident over Europe's gas situationPARIS, Oct 8 (Reuters) - European Central Bank President Christine Lagarde said in an interview published on Sunday that she was confident the ECB would meet its target of getting inflation back down to 2%, and relatively confident over Europe's gas reserves situation. Lagarde added the fact that inflation was "currently falling significantly" was one of several reason as to why she was not pessimistic regarding the short-term economic outlook. She added that other reasons for this were economic reforms underway in Europe, and because Europe's gas reserves situation was better than before. And, just one year ago, who would have thought that we would succeed in replenishing more than 90% of our gas reserves by September 2023?," said Lagarde. "This allows us to look towards the coming winter, if not calmly, then at least with a lot more confidence," she added.

Persons: Christine Lagarde, Yves Herman, Lagarde, Sudip Kar, Toby Chopra Organizations: European Central Bank, European Parliament's, Economic, Monetary Affairs, REUTERS, Central Bank, ECB, Tribune, Thomson Locations: Brussels, Belgium, PARIS, Europe

☆ ECB's Lagarde defends bank supervisor pick after pushback
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO DE COMPOSTELLA, Sept 15 (Reuters) - European Central Bank President Christine Lagarde defended on Friday the bank's pick to head its bank supervision arm, despite the European Parliament's preference for a rival candidate to oversee a 26 trillion euro banking sector. Lagarde said that the 26-member Governing Council, who selected Buch, took the committee's opinion into account but noted that the committee had no veto but merely an opportunity to formulate an opinion. Once that opinion was received, policymakers followed the letter of the law in the selection process, Lagarde added. The key point of contention is that Buch has relatively limited experience in bank supervision, having joined the ECB's Supervisory Board only this year, while Delgado has spent decades in the field. Buch must now go back to the same committee for a public hearing, tentatively scheduled for 0800 GMT on Wednesday.

Persons: SANTIAGO, Christine Lagarde, Claudia Buch, Margarita Delgado, Buch, Lagarde, Delgado, Jan Strupczewski, Balazs Koranyi, Chizu Organizations: SANTIAGO DE COMPOSTELLA, Central Bank, ECB, Bank of Spain, Economic, Monetary Affairs, ECB's, Thomson Locations: Bank

☆ ECB's Lagarde says latest growth data 'encouraging'
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, July 30 (Reuters) - Latest data about economic output in France, Germany and Spain is "quite encouraging" and confirms the European Central Bank's expectations, ECB President Christine Lagarde said in an interview published on Sunday. "The second quarter GDP figures for France, Germany and Spain are quite encouraging," Lagarde told French daily Le Figaro. "They support our scenario of GDP growth of 0.9% in the euro area this year." Reporting by Francesco Canepa; Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

Persons: Christine Lagarde, Lagarde, Figaro, Francesco Canepa, Andrew Cawthorne Organizations: Thomson Locations: FRANKFURT, France, Germany, Spain

☆ Asian shares climb after Fed hikes as expected; eyes on Europe, Japan
▼ + stars: | 2023-07-27 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

S&P 500 futures rose 0.2% while Nasdaq futures gained 0.5%, helped by a 6.8% jump in Meta Platforms (META.O) in after-hours trading. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.2% amid hopes that U.S. tightening cycle could be over now. On Wednesday, the U.S. Federal Reserve delivered a quarter-point rate hike and kept the door open for more, as widely expected. The European Central Bank is widely expected to raise interest rates for the ninth time in a row on Thursday. Brent crude futures were up 0.9% at $83.69 per barrel and U.S. West Texas Intermediate crude futures rose 1% to $79.59.

Persons: HSI, Jerome Powell, Powell, Padhraic Garvey, Garvey, Stella Qiu, Muralikumar Organizations: SYDNEY, Nasdaq, Japan's Nikkei, U.S . Federal Reserve, ING, European Central Bank, Bank of Japan, U.S ., Treasury, Brent, . West Texas, Thomson Locations: Europe, Japan, Asia, Pacific, Americas

The pan-European STOXX 600 index (.STOXX) closed 0.7% higher, tracking overnight gains in Wall Street. Shares of Sage Group Plc (SGE.L) gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral". Shares of chip equipment maker ASML Holding (ASML.AS) rose 2.3% while Nordic Semiconductor (NOD.OL) jumped 6.4%, making technology (.SX8P) among the top European sectoral gainers. Semiconductor shares were in focus after a report stated the U.S. was considering new restrictions on exports of artificial intelligence chips to China. Also boosting the STOXX 600, Roche Holding (ROG.S) gained 1.5% after the U.S. health regulator declined to approve Regeneron's (REGN.O) Eylea drug.

Persons: Christine Lagarde, Jerome Powell, what's, Danni Hewson, AJ Bell, Morgan, Hewson, Roche, Morgan Stanley, Christian Klein, Matteo Allievi, Subhranshu Sahu, Sherry Jacob, Phillips, Alex Richardson Organizations: Sage Group, UBS, CS, . Federal, ASML, Nordic Semiconductor, Semiconductor, Carrefour, Credit Suisse, SAP, Thomson Locations: Wall, U.S, China, Swiss, Gdansk, Amruta, Bangalore

The pan-European STOXX 600 index (.STOXX) closed 0.1% higher, snapping its six-day losing streak. "Markets are expecting either the data to improve from China or stimulus to increase from the government. "This realization is dawning among investors yet again, that the inflationary fight is far from over." The healthcare sector has been declining in recent weeks and is down nearly 2.9% so far this month. Reporting by Amruta Khandekar, Siddarth S and Matteo Allievi in Gdansk; Editing by Rashmi Aich, Sonia Cheema, William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: ECB's Lagarde, Christine Lagarde, Li Qiang, Giles Coghlan, Susannah Streeter, Hargreaves Lansdown, Streeter, Goldman Sachs, Amruta Khandekar, Siddarth, Matteo Allievi, Rashmi Aich, Sonia Cheema, William Maclean Organizations: European Central Bank, HSBC, Prudential Plc, Hargreaves, Siemens Energy, Thomson Locations: China, Russia, U.S, Gdansk

☆ ECB's Lagarde sees no peak in core inflation despite 'moderation'
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] European Central Bank President Christine Lagarde walks on the day of addressing the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium June 5, 2023. REUTERS/Yves HermanFRANKFURT, June 5 (Reuters) - European Central Bank President Christine Lagarde on Monday acknowledged "signs of moderation" in core inflation in the euro zone but reaffirmed it was too early to call a peak in that key gauge of price growth. Lagarde's comments were likely to cement market expectations for more interest rate increases from the ECB this month and the next despite a sharp fall in inflation last month. "The latest available data suggest that indicators of underlying inflationary pressures remain high and, although some are showing signs of moderation, there is no clear evidence that underlying inflation has peaked," Lagarde told European lawmakers. Lagarde conceded that the effects of past rate hikes "were starting to materialise" and were likely to "strengthen in the coming years".

Persons: Christine Lagarde, Yves Herman FRANKFURT, Lagarde, Francesco Canepa, Balazs Koranyi, Bernadette Baum Organizations: European Central Bank, European Parliament's, Economic, Monetary Affairs, REUTERS, Central Bank, ECB, Thomson Locations: Brussels, Belgium

☆ Euro, dollar status should not be taken for granted - ECB's Lagarde
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, April 17 (Reuters) - The United States and the euro zone should not take the international status of their currencies for granted as countries such as China and Russia seek to create their own systems. "These developments do not point to any imminent loss of dominance for the U.S. dollar or the euro," Lagarde said in a speech. "So far, the data do not show substantial changes in the use of international currencies." "But they do suggest that international currency status should no longer be taken for granted," she said at the Council on Foreign Relations in New York. Reporting by Balazs Koranyi and Francesco CanepaOur Standards: The Thomson Reuters Trust Principles.

☆ Euro, dollar status should not be taken for granted -ECB's Lagarde
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, April 17 (Reuters) - The United States and the euro zone should not take the international status of their currencies for granted as countries such as China and Russia seek to create their own systems. "These developments do not point to any imminent loss of dominance for the U.S. dollar or the euro," Lagarde said in a speech. "So far, the data do not show substantial changes in the use of international currencies." "But they do suggest that international currency status should no longer be taken for granted," she said at the Council on Foreign Relations in New York. Around 60% of the world's foreign exchange reserves and international debt is denominated in dollars, with the euro a distant second at 20%, according to data compiled by the ECB.

☆ Morning Bid: Is it a bird?
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

Officials declined to say whether it resembled the large white Chinese balloon that was shot down earlier this month, though U.S. Air Force General Glen VanHerck is not ruling out aliens. Markets have kept an eye on the geopolitical mystery, but more focus is on whether U.S. inflation is earthbound or stubbornly hovering. Economists expect Tuesday data to show monthly rates ticked up in January, but the annual measures declined. Revised figures on Friday showed that inflation in December was a little stronger than originally reported, and a closely-watched consumer inflation expectations survey showed a notable spike in the short-term outlook. The BOJ’s YCC faces a reckoningKey developments that could influence markets on Monday:- Fed's Bowman speaks- ECB's Lagarde participates in Eurogroup meetingReporting by Tom Westbrook; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

World markets this week will be dominated by U.S. inflation figures on Tuesday, leaving Monday free for investors in Asia to digest the previous session's action on Wall Street and adjust positioning ahead of the numbers. Indian consumer price inflation for January tops Monday's Asian economic calendar. Revised figures on Friday showed that inflation in December was a little stronger than originally reported, and a closely-watched consumer inflation expectations survey showed a notable spike in the short-term outlook. Tough talking on inflation from Fed officials was matched last week by their peers in Australia, India and Sweden, so the push is global. Sources have told Reuters that 71-year old academic Kazuo Ueda, a former Bank of Japan policy board member has been lined up to replace Haruhiko Kuroda as BOJ governor.

☆ Morning Bid: Euro rising
▼ + stars: | 2023-01-23 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

SYDNEY, Jan 23 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's been a quiet start to the week in Asia with much of the region on holiday. U.S. stocks futures are near flat, but EUROSTOXX futures added 0.5% to extend their recent bullish run. Analysts assume the same sea change will deliver an improvement in the EU flash PMIs for January this week, likely outperforming the U.S. surveys. Key developments that could influence markets on Monday:- ECB's Lagarde and Panetta are appearing- No major economic data due on Monday.

☆ ECB's Lagarde: Central bank does not target exchange rate
▼ + stars: | 2023-01-20 | 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 Lagarde: Central bank does not target exchange rateChristine Lagarde, president of the European Central Bank, discusses exchange rates and their impact on the ECB's rate outlook.

☆ IMF's Georgieva and ECB's Lagarde discuss the future of global growth at Davos
▼ + stars: | 2023-01-20 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 5 a.m. Please refresh the page if you do not see a player above at that time.] Moderated by CNBC's Geoff Cutmore, top business leaders and policymakers discuss the future of growth at Davos, Switzerland, and the policies needed to stabilize the global economy. Joining CNBC is Kristalina Georgieva, the managing director of the International Monetary Fund, Christine Lagarde, president of the European Central Bank, Bruno Le Maire, France's finance minister, Larry Summers, Charles W. Eliot University Professor at the Harvard Kennedy School of Government, and Kuroda Haruhiko, governor of the Bank of Japan. Subscribe to CNBC on YouTube.

☆ ECB's Lagarde: China reopening will cause increased inflationary pressure
▼ + stars: | 2023-01-20 | 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 Lagarde: China reopening will cause increased inflationary pressureChristine Lagarde, president of the ECB, discusses the impact of the reopening of China's economy and the inflationary headwinds facing the European Central Bank.

The Bank of England also raised its key interest rate by a further half-percentage point on Thursday and indicated more hikes were likely. "Both the Fed and ECB delivering more hawkish rate steers are compounding recession fears," said Joe Manimbo, senior market analyst at Convera in Washington. Powell was also particularly hawkish in his comments, noting that ongoing rate hikes are appropriate to get sufficiently restrictive. In afternoon trading, the dollar rose to two-week highs against the yen, and last traded up 1.6% at 137.665 . Sterling also fell sharply as investors believe the BOE is nearing the end of its rate hikes.

☆ ECB's Lagarde offers back-to-back rate hikes to woo dissenters
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Dec 15 (Reuters) - European Central Bank President Christine Lagarde offered fellow policymakers back-to-back interest rate hikes worth 50 basis points each to secure a majority for Thursday's policy decision, four sources told Reuters. The stalemate ended when Lagarde offered to signal more 50-basis-point rises and a hawkish message on inflation during her press conference, convincing enough policymakers to back the proposal. The compromise helped her secure a majority for the decision although 8-10 policymakers out of 25 remained sceptical - an unusually high proportion. At a press conference after the decision, Lagarde said that, based on current data, she anticipated another 50 basis-point rise at the ECB's next meeting on Feb 2 "and possibly at the one after that, and possibly thereafter". This clashed with the ECB's promise to take decisions "meeting-by-meeting" and depending on the data.

Summary Hawkish central banks dampen hopes of peak ratesEuro zone bonds yields surgeHawkish message a reality check for markets -analystsLONDON, Dec 15 (Reuters) - Forget a year-end rally in financial markets. The message from major central banks is loud and clear: the battle to tame inflation is far from over. Central banks in the United States, euro zone, Britain and Switzerland met on Wednesday and Thursday and all slowed the pace of aggressive rate moves. European Central Bank President Christine Lagarde said to expect more 50-basis-point rate increases for a period of time and that the ECB was not "pivoting" yet. Such sharp moves loosen the very financial conditions that central banks are trying to tighten in order to contain inflation.

☆ ECB's Lagarde warns some fiscal policies in Europe could fuel excess demand
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

BANGKOK, Dec 2 (Reuters) - European Central Bank President Christine Lagarde warned on Friday that some European governments' fiscal policies could lead to excess demand, and that fiscal and monetary policies need to work in synch for sustainable, balanced economic growth. "Fiscal policies that create excess demand in a supply constrained economy might force monetary policy to tighten more than would otherwise be necessary," Lagarde said at a conference hosted by the Bank of Thailand and Bank for International Settlements in Bangkok. "We need higher investment and structural reforms to remove the supply constraints and ensure that potential output is not impaired by the changing global economy. "And in a world where external demand is more uncertain, we will also need to strengthen the domestic supply and demand through higher productivity growth," she said. Its rate on bank deposits was increased by 200 basis points to 1.5% in three months.

☆ ECB's Lagarde says we haven't reached inflation peak
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Nov 28 (Reuters) - Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday. "We do not see the components or the direction that would lead me to believe that we've reached peak inflation and that it's going to decline in short order," Lagarde told the European Parliament. "Whenever I ask my top-notch economists at the ECB ... about the risk, the answer that I get at the moment is (that) risk is to the upside, without qualifying the upside." Reporting By Francesco CanepaOur Standards: The Thomson Reuters Trust Principles.

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