DIRS.INFO The most relevant business & tech news

☆ ECB raises minimum capital requirements for Spanish banks
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsMADRID, Dec 1 (Reuters) - The European Central Bank has raised the minimum capital requirements for Spanish lenders BBVA (BBVA.MC), Caixabank (CABK.MC), Sabadell (SABE.MC) and Bankinter (BKT.MC) as part of a supervisory review and evaluation process (SREP). The process provides an overall assessment of the challenges that face significant institutions, together with the corresponding solvency requirements and other supervisory measures that banks are expected to comply with for the year ahead. BBVA's capital threshold was also raised to 9.09% for next year from 8.72%. For Unicaja (UNI.MC), the supervisor however maintained its solvency threshold for 2024 unchanged at 8.27% compared to 2023.

Persons: Heiko Becker, Caixabank, Jesús, Emma Pinedo, Sharon Singleton Organizations: European Central Bank, REUTERS, Rights, BBVA, ECB, Spain's Santander, Thomson Locations: Frankfurt, Germany, Sabadell

☆ ECB backs global rules for bonds wiped out in Credit Suisse rescue
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker//File Photo Acquire Licensing RightsFRANKFURT, Nov 16 (Reuters) - The European Central Bank's chief supervisor on Thursday supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse's rescue by rival UBS (UBSG.S) earlier this year. The Basel Committee said in a report last month it would review the features of AT1 bonds, including the "loss-absorbing hierarchy". But Credit Suisse's bonds contained a clause allowing authorities the write down those bonds without winding down the bank. This clause is not a feature in bonds issued by European Union banks and the ECB has made clear that it would impose losses on shareholders first.

Persons: Heiko Becker, Andrea Enria, Enria, Pablo Hernández de Cos, Francesco Canepa, Balazs Koranyi, Toby Chopra Organizations: European Central Bank, REUTERS, Rights, Central Bank's, UBS, ECB, Banking Supervision, Basel, Committee, European Union, Thomson Locations: Frankfurt, Germany, Swiss, Basel

☆ Hedge funds help fill bond-buying void left by central banks
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Weinberg said hedge funds accounted for roughly 40% of turnover in German securities. Other debt agency officials said regulation following the global financial crisis had prompted banks to be more cautious about investing in bonds, which also left hedge funds with greater scope to buy into fixed income markets. UK debt management office head Robert Stheeman said hedge funds had moved into the space left by banks in ensuring liquidity - in other words, the ease of buying and selling an asset. Mercedes Abascal Rojo, head of funding and debt management at the Spanish Treasury, urged the need for caution, however. So far, market functioning has generally been smooth, the debt agency heads said.

Persons: Heiko Becker, Thomas Weinberg, Weinberg, Robert Stheeman, Mercedes Abascal Rojo, Spain's Abascal, Dhara, Barbara Lewis Organizations: European Central Bank, REUTERS, Bank of England, Association for Financial Markets, Spanish Treasury, Thomson Locations: Frankfurt, Germany, Ukraine, Europe's, Brussels, Central, Spain

☆ ECB to hold rates through mid-2024 despite stalling economy - Reuters poll
▼ + stars: | 2023-11-14 | by ( Prerana Bhat | ) www.reuters.com time to read: +3 min

FILE PHOTO: A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. The remaining 45% saw a cut sometime before the ECB Governing Council meets in July. The results are similar to a survey last month where 58% expected no cut before the July meeting. The ECB, which began raising rates several months later than the Fed, could weaken the euro and introduce unwanted imported inflation if it moved before the Fed. The jobless rate was expected to rise only slightly to 6.7% from the current 6.5% by end-2024, the poll showed.

Persons: Heiko Becker, Christine Lagarde, ”, Peter Vanden Houte Organizations: European Central Bank, Reuters, REUTERS, ECB, ING, U.S . Federal Locations: BENGALURU, Frankfurt, Germany

☆ ECB tells banks to factor in further drop in property prices
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsFRANKFURT, Nov 7 (Reuters) - Euro zone banks should factor in the risk of a further fall in property prices when they make provisions and plans about their capital, the European Central Bank's chief supervisor Andrea Enria said on Tuesday. The European property market has come under pressure from the ECB's steepest and longest streak of increases in interest rates, which are now at record highs. Fuelled by low interest rates and massive ECB cash injections, billions were funnelled into property in the last decade, particularly in richer European countries such as Germany, France and the Netherlands. Euro zone banks have been curbing access to credit, particularly mortgages, and demand from households and companies is also falling, ECB data shows.

Persons: Heiko Becker, Andrea Enria, Enria, Banks, Germany's Claudia Buch, Francesco Canepa, Kirsten Donovan, Jan Harvey Organizations: European Central Bank, REUTERS, Rights, Central Bank's, ECB, Thomson Locations: Frankfurt, Germany, France, Netherlands

☆ Multinationals plan moves to minimise China risk, ECB survey shows
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. Seeking on-the-ground confirmation, the ECB surveyed 65 very large firms with a global footprint and 49% said they were looking to "near-shore", or bring production closer to the point of sales. "As to those countries which posed – or could pose – a risk to supply chains in their sector more generally, two-thirds of all respondents cited China," the ECB said in an Economic Bulletin article. "A large majority of these identified China as that country, or one of those countries, with all of them considering this an elevated risk," the ECB added. The moves could also fuel inflation as close to half of firms said they expected the changes to result in higher prices, the paper added.

Persons: Heiko Becker, Balazs Koranyi, Andrew Heavens Organizations: European Central Bank, REUTERS, Rights, ECB, European, Thomson Locations: Frankfurt, Germany, China, Ukraine

☆ Analysis: Traders bet ECB will be first big central bank to cut rates
▼ + stars: | 2023-11-03 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. With investors confident that big central banks are likely done raising rates, focus has switched to when rate cuts will start. Traders now price in over an 80% chance of a 25 basis-points (bps) ECB cut by April, which had been fully priced for July last week. Piet Christiansen, chief analyst at Danske Bank, said the expectations for ECB rate cuts now reflected a "doom and gloom" scenario. He added the ECB would need to cut rates at least as much as traders expect next year.

Persons: Heiko Becker, BoE, Shamik Dhar, Christine Lagarde, Piet Christiansen, Lagarde, Goldman, Gurpreet Gill, Dario Perkins, Yoruk, Sumanta Sen, Kripa Jayaram, Dhara Ranasinghe, Emelia Organizations: European Central Bank, REUTERS, Traders, ECB, Fed, Federal Reserve, Bank of England, BNY Mellon Investment, Treasury, Reuters, Danske Bank, Asset Management, Lombard, Thomson Locations: Frankfurt, Germany, United States, Europe, U.S, Britain, Israel

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. Central banks in Sweden, Switzerland, Norway, Great Britain and the United States held no rate setting meetings. That compares to September, where three major developed central banks delivered a last-gasp set of rate hikes, which took 2023 the year-to-date tally for G10 central banks to a total of 1,150 bps across 36 hikes. Emerging markets interest rate moves in Oct 2023Meanwhile, diverging rate trajectories continued to be on display in emerging economies where 12 out of the 18 central banks in the Reuters sample held meetings in October. Central banks in Brazil, Mexico, South Africa, Thailand, Malaysia and Czech Republic did not meet in October.

Persons: Heiko Becker, Fabiana Fedeli, Barnaby Martin, Karin Strohecker, Sumanta Sen, Jonathan Oatis Organizations: European Central Bank, REUTERS, Bank of Japan, Reserve Bank of Australia, Reserve Bank of New, Bank of Canada, Fed, Bank of England, G Investments, U.S . Federal, Reuters, BofA Securities, Thomson Locations: Frankfurt, Germany, Central, America, Europe, Asia, Reserve Bank of New Zealand, Sweden, Switzerland, Norway, Great Britain, United States, Chile, Hungary, Poland, Indonesia, Philippines, Russia, Turkey, Brazil, Mexico, South Africa, Thailand, Malaysia, Czech Republic

☆ Be cautious, dove Visco tells ECB on last day as council member
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsROME, Oct 31 (Reuters) - The European Central Bank (ECB) should be cautious in coming months having hiked rates steeply to curb inflation, Bank of Italy Governor Ignazio Visco said on Tuesday on his last day in office. In a speech to bankers in Rome Visco, long seen as a dove on the ECB's governing council, reiterated his frequent calls for prudence. "I think the (ECB's) orientation to keep rates at current levels for a sufficiently long period of time... is a wise decision," Visco said. Visco will be replaced as Bank of Italy governor by Fabio Panetta, a former member of the ECB executive board.

Persons: Heiko Becker, Ignazio Visco, Rome Visco, Visco, Fabio Panetta, Giuseppe Fonte, Angelo Amante, Gavin Jones Organizations: European Central Bank, REUTERS, Rights, Bank of Italy, Bank of, ECB, Thomson Locations: Frankfurt, Germany, Rome, Bank of Italy

☆ ECB breaks record streak of rate hikes as economy weakens
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsATHENS, Oct 26 (Reuters) - The European Central Bank broke the longest streak of interest rate hikes in its 25-year history on Thursday, saying the latest data continued to point to inflation slowly coming down to its 2% target. "The Governing Council’s past interest rate increases continue to be transmitted forcefully into financing conditions," the ECB said. This sharp policy tightening is leaving a mark on the economy, with data earlier this week showing weak credit creation and economic activity. ($1 = 0.9480 euros)Reporting By Leftheris Papadimas Writing by Francesco Canepa Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Heiko Becker, Christine Lagarde's, Francesco Canepa, Catherine Evans Organizations: European Central Bank, REUTERS, Rights, ECB, Thomson Locations: Frankfurt, Germany

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. That was a relief to financial markets, roiled in recent weeks by a surge in government bond yields led by U.S. Treasuries. The central bank reiterated it would reinvest all the cash it receives from maturing bonds it holds under its 1.7 trillion euro pandemic-era bond scheme until the end of 2024. Instead, the ECB kept the emphasis on slowing inflation, raising investors' conviction that September's rate rise was the central bank's last. And inflation risks have not disappeared.

Persons: Heiko Becker, Christine Lagarde, Lagarde, Piet Christiansen, Gabriele Foa, reinvestments, Marcus Brookes, Sabrina Kanniche, Yoruk Bahceli, Naomi Rovnick, Amanda Cooper, Nick Zieminski Organizations: European Central Bank, REUTERS, ECB, U.S, Treasuries, Reuters, Danske Bank, The Bank of, Algebris, Quilter Investors, Asset Management, Thomson Locations: Frankfurt, Germany, Italy, Copenhagen, Israel, The Bank of Canada, wean, Ukraine

☆ Weak euro zone lending adds to recession fears
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsFRANKFURT, Oct 25 (Reuters) - Bank lending across the euro zone came to a near standstill last month, European Central Bank data showed on Wednesday, providing further evidence that the 20-nation bloc was skirting a recession. Still, detailed data suggest that underlying trends may be more nuanced as the monthly flow of fresh loans was a positive 14.0 billion euros, reversing much of the previous month's negative 19.9 billion euro reading. Lending is taking a hit after a string of interest rate hikes took the ECB's key rate to a record high 4% last month, all in the hope this would depress activity enough for inflation to return to 2%. Lending to households meanwhile rose by just 0.8% after a 1.0% increase in August with the monthly flow of loans at a positive 4.5 billion euros, ECB data showed.

Persons: Heiko Becker, Balazs Koranyi, Francesco Canepa Organizations: European Central Bank, REUTERS, Rights, Bank, PMI, Thomson Locations: Frankfurt, Germany

☆ Euro zone lenders and borrowers shun credit as rates climb - ECB
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. "For the fourth quarter of 2023, euro area banks expect a further, albeit more moderate, net tightening of credit standards on loans to firms, and broadly unchanged credit standards on loans to households for house purchase," the ECB said. "For consumer credit, euro area banks expect a further significant net tightening." Banks expect a further, albeit less pronounced, decline in demand for all types of loans in the fourth quarter. The poll also showed banks found it harder to secure funding in the third quarter, especially from retail customers, reflecting stronger competition for deposits.

Persons: Heiko Becker, Banks, Francesco Canepa, Kevin Liffey, Bernadette Baum Organizations: European Central Bank, REUTERS, Bank Lending, ECB, Thomson Locations: Frankfurt, Germany, FRANKFURT

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. Markets have seen some seismic shifts in recent weeks after being forced to adjust to the 'higher for longer' mantra propagated by major central banks. "I don't think we're back to the point where these central banks will start tightening again..but if you are a central banker, especially of an oil importing country, you do become more cautious." On the other hand, a select number of central banks in emerging markets were still in hiking mode. Turkey, which is struggling with inflation pressures and a currency that is sliding from one record low to the next, delivered another bumper 500 bps rate hike.

Persons: Heiko Becker, Bjoern, Kaan Nazli, Neuberger Berman, Karin Strohecker, Sumanta Sen, Christina Fincher Organizations: European Central Bank, REUTERS, U.S . Federal Reserve, Bank of England, ECB, DWS, Reuters, Thomson Locations: Frankfurt, Germany, Central, America, Europe, Sweden, Norway, Australia, Canada, Japan, Brazil, Chile, Poland, Hungary, Turkey, Russia, Thailand, London, Mumbai

☆ ECB needs to be cautious about doing too much on rates - Villeroy
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker//File Photo Acquire Licensing RightsPARIS, Sept 25 (Reuters) - The European Central Bank has reached the point where it needs to be wary of raising interest rates too high and should try to avoid a hard landing of the economy, ECB policymaker Francois Villeroy de Galhau said on Monday. The ECB raised its main interest rate to a record high 4% this month after 10 successive hikes, but signalled a pause in October. Villeroy said that the risk of doing too much - and possibly triggering a recession - and the risk of doing too little were now symmetrically balanced after the string of rate hikes. If the ECB did too much, the central bank could run the risk of having to rapidly reverse course, he told a conference at the French central bank, which he also heads.

Persons: Heiko Becker, Francois Villeroy de Galhau, Villeroy, Leigh Thomas, Toby Chopra Organizations: European Central Bank, REUTERS, Rights, ECB, Thomson Locations: Frankfurt, Germany

☆ ECB must gauge digital euro impact on banks before launch -Spanish official
▼ + stars: | 2023-08-25 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsMADRID, Aug 25 (Reuters) - The European Central Bank needs to measure the impact of the digital euro on the euro zone's banking system before any final decision on its potential launch, Spain's deputy central bank governor Margarita Delgado said on Friday. The ECB is due to decide in October whether to push ahead with a digital euro, which aims to tackle a shortage of European payment service providers. A digital euro would provide a payment solution based on European infrastructure and accepted throughout the entire euro area, she said. Electronic payments in the EU grew from 184.2 trillion euros ($201.7 trillion) in 2017 to 240 trillion euros in 2021, accelerated by the COVID-19 pandemic.

Persons: Heiko Becker, Margarita Delgado, Delgado, Jesús, Andrei Khalip, Mark Heinrich Our Organizations: European Central Bank, REUTERS, Rights, ECB, European Union, Bank of Spain, Thomson Locations: Frankfurt, Germany

☆ German arms maker takes Finland to market court over rifle choice
▼ + stars: | 2023-08-08 | by ( Anne Kauranen | ) www.reuters.com time to read: +3 min

[1/2] A soldier of the special forces unit KSK of Germany's army Bundeswehr holds the Heckler & Koch assault rifle G95/HK416 during a training exercise in Calw, Germany, October 24, 2022. REUTERS/Heiko Becker/File PhotoHELSINKI, Aug 8 (Reuters) - German gun maker Heckler & Koch has filed a complaint with the Finnish Market Court over Finland's direct arms purchase from a local manufacturer, bypassing competition rules, court documents seen by Reuters showed on Tuesday. Finland's defence forces said the procurement followed Finnish and EU exceptions to competition rules on the basis of national security interests. Contacted by Reuters, Heckler & Koch GmbH declined to comment on the proceeding and did not reveal if it had filed a similar complaint in Sweden. The Swedish Market Court or Stockholm's Administrative Court found no pending complaints by the German company in their registries.

Persons: Koch, Heiko Becker, Italy's Beretta, Heckler, Anne Kauranen, Christina Fincher Organizations: Bundeswehr, Heckler, REUTERS, Finnish Market Court, Reuters, EU, Sako, Finnish Defence Forces, RK, AK, Heckler & Koch, Nordic, NATO, Koch, Swedish, Thomson Locations: Calw, Germany, Sweden, Finnish, Sako, Finland, Swedish, Ukraine, Stockholm's

☆ Euro zone consumers expect lower inflation, sluggish housing prices - ECB poll
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File PhotoFRANKFURT, Aug 8 (Reuters) - Euro zone consumers expect inflation to keep slowing in the next months and years but remain pessimistic about their purchasing power and house prices, a European Central Bank survey showed on Tuesday. Consumers also cut their expectations for inflation three years ahead to 2.3% from 2.5% in May - inching closer to the ECB's 2% target. The survey also showed that consumers continued to expect their income to grow much more slowly - at 1.2% - than inflation and spending over the next 12 months, implying an expected lowering of living standards and savings. An article accompanying the survey showed that households' perceptions about housing have deteriorated markedly since mid-2021 due to expectations of higher mortgage rates and inflation as well as lower economic growth.

Persons: Heiko Becker, Francesco Canepa, Andrew Heavens Organizations: European Central Bank, REUTERS, Thomson Locations: Frankfurt, Germany

☆ Berlin aims to have "best equipped" NATO army division in Europe in 2025
▼ + stars: | 2023-07-17 | by ( Sabine Siebold | ) www.reuters.com time to read: +3 min

REUTERS/Heiko BeckerBERLIN, July 17 (Reuters) - Germany is confident it will have the best equipped army division amongst European NATO allies in 2025, Army Chief Alfons Mais told Reuters, as countries are scrambling to gear up their troops in the wake of Russia's invasion of Ukraine. At the moment, Berlin does not have a single combat-ready division, a military unit comprising more than 20,000 troops. It aims to have the first of three divisions operational by 2025, with the second to follow in 2027. "It will be sufficient, in any case, to contribute the best equipped division of all European NATO partners in 2025. "But supporting Ukraine is more important right now than establishing a division, as NATO Secretary-General Jens Stoltenberg has stressed," he underlined.

Persons: Boris Pistorius, Heiko Becker BERLIN, Alfons Mais, Mais, Jens Stoltenberg, Olaf Scholz, Sabine Siebold, Emma, Victoria Farr, David Evans Organizations: German, Bundeswehr, REUTERS, NATO, Reuters, Thomson Locations: Hammelburg, Germany, Ukraine, Berlin, Dutch, Iraq, Afghanistan, Kyiv

London/Berlin CNN —Germany announced Thursday that it would reduce its dependence on China in “critical sectors” including medicine, lithium batteries used in electric cars and elements essential to chipmaking. The government published its first ever “Strategy on China,” a 40-page document that highlights the tightrope Berlin must walk in managing its dependence on the world’s second-largest economy amid growing criticism of Beijing’s human rights record and attitude towards international law. China is Germany’s most important trading partner, with imports and exports between the two nations reaching nearly €300 billion ($335 billion) in 2022, according to the government. China is a crucial partner in tackling climate change, pandemics and sustainable development, the strategy paper added. China is a key market for several major German companies, including Volkswagen (VLKAF) and BMW, and the government said it planned to hold talks with firms “particularly exposed to China” with a view to “identifying concentration risks.”

Persons: Berlin CNN —, ”, Chancellor Olaf Scholz’s, ” Scholz, Olaf Scholz, Germany Heiko Becker Organizations: Berlin CNN, Siemens, Reuters, Volkswagen, BMW Locations: Berlin, China, ”, Beijing, Germany, overdependent, EU, Bavaria

☆ Major central banks not done with rate hikes just yet
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +6 min

[1/2] A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. Fed policymakers paused on its rate hikes since March 2022, and kept the federal funds target rate unchanged at 5.25%, its highest level since August 2007. Reuters Graphics5) AUSTRALIAAustralia's central bank raised its benchmark rate by a quarter-point on June 6 to an 11-year high of 4.1%. It expects inflation to stay above its 2% target through 2025 and hinted at more rate hikes ahead. Reuters Graphics10) JAPANThe Bank of Japan remains the world's most dovish major central bank under new Governor Kazuo Ueda.

Persons: Heiko Becker, Jerome Powell, BoE, Christine Lagarde, Thomas Jordan, Kazuo Ueda, Samuel Indyk, Nell Mackenzie, Alun John, Naomi Rovnick, Harry Robertson, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Dhara Ransinghe, Jonathan Oatis Organizations: European Central Bank, REUTERS, Heiko Becker LONDON, U.S . Federal Reserve, Bank of England, Reuters, Reserve Bank of New, UNITED, Fed, Bank of Canada, BRITAIN, Bank of, ECB, Norges Bank, Reuters Graphics Reuters, Swiss National Bank, Bank of Japan, Thomson Locations: Frankfurt, Germany, Canada, Japan, dovish, Reserve Bank of New Zealand, U.S, Bank of England, AUSTRALIA, SWEDEN, NORWAY, SWITZERLAND, JAPAN

"We are not pausing - that is very clear," ECB President Christine Lagarde told a press conference. NOT FED DEPENDENTShe also dismissed the notion that the ECB would have to pause if its U.S. counterpart did so, saying the ECB was "not Fed-dependent". The German 10-year yield , the euro zone benchmark, fell as much as 7 basis points to a one-month low of 2.18%. "In a nod to the hawks, the ECB hinted at 'future decisions' in the plural," Holger Schmieding at Berenberg said. Firms in the services sector especially have complained of labour shortages, suggesting that more wage pressures could come this summer.

☆ Manchester City reach Champions League semis with 1-1 draw at Bayern
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - Champions League - Quarter Final - Second Leg - Bayern Munich v Manchester City - Allianz Arena, Munich, Germany - April 19, 2023 Manchester City's Erling Braut Haaland celebrates scoring their first goal with teammates REUTERS/Heiko BeckerMUNICH, Germany, April 19 (Reuters) - Manchester City drew 1-1 at Bayern Munich on Wednesday to cruise into the Champions League semi-finals with a 4-1 aggregate win that moved them a step closer to an elusive first title in the competition. City forward Erling Haaland, who had missed a first-half penalty, made amends in the 57th minute, drilling in his 48th goal in all competitions this season to kill off the tie. Losing finalists in 2021, Pep Guardiola's team had a 3-0 advantage from the first leg and soaked up considerable Bayern pressure before Haaland's goal. City will next play holders Real Madrid in the last four. Reporting by Karolos Grohmann Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

[1/2] European Central Bank (ECB) President Christine Lagarde speaks during a news conference following the ECB's monetary policy meeting in Frankfurt, Germany March 16, 2023. REUTERS/Heiko BeckerFRANKFURT, March 19 (Reuters) - The world's top central banks said on Sunday they would start offering daily loans in dollars to their banks to avert stress in the funding market after the emergency rescue of Swiss giant Credit Suisse Group AG (CSGN.S). The coordinated move announced on Sunday, reminiscent of the global financial crisis of more than a decade ago, will see the Federal Reserve and the central banks of the euro zone, Britain, Japan and Canada offer seven-day dollar loans to their banks starting on Monday. "To improve the swap lines' effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily," the central banks said in a joint statement. But Credit Suisse found itself in dire need of U.S. dollars last week until it was thrown a 50 billion-franc lifeline by its own central bank.

[1/2] A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. The ECB has hiked rates by 350 basis points since last July, lifting its benchmark refinancing rate to 3.5% on Thursday. Wunsch said the ECB had a "long way to go" if its baseline inflation forecast materialised. Credit Suisse was dealing with "a longstanding restructuring problem", he added. Asked about the future of Credit Suisse, Wunsch said he only saw a "very low" likelihood that the bank might go bankrupt.

Search resuls for: "Heiko Becker"

25 mentions found