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☆ Christine Lagarde: ECB will cut rates soon, barring any major surprise
▼ + 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 EmailChristine Lagarde: ECB will cut rates soon, barring any major surpriseCNBC's Sara Eisen speaks with ECB President Christine Lagarde to discuss whether the central bank remains on course to cut interest rates, how geopolitical developments have impacted commodity prices, and more.

Persons: Christine Lagarde, Sara Eisen Organizations: ECB

☆ ECB President Christine Lagarde: EU growth will come from wage increases while inflation falls
▼ + 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 President Christine Lagarde: EU growth will come from wage increases while inflation fallsCNBC's Sara Eisen speaks with ECB President Christine Lagarde to discuss whether the central bank remains on course to cut interest rates, how geopolitical developments have impacted commodity prices, and more.

Persons: Christine Lagarde, Sara Eisen

☆ Lagarde says ECB will cut rates soon, barring any major surprises; notes 'extremely attentive' to oil
▼ + stars: | 2024-04-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde on Tuesday said the central bank remains on course to cut interest rates in the near term, subject to any major shocks. Lagarde said the ECB would monitor oil prices "very closely" amid elevated fears of a spillover conflict in the Middle East. However, since Iran's unprecedented air attack on Israel over the weekend, she said the oil price reaction had been "relatively moderate." Her comments come shortly after the central bank gave its clearest indication to date that it could start cutting interest rates during its June meeting. The ECB on Thursday held interest rates steady at a record high for the fifth consecutive meeting, but signaled that cooling inflation means it could begin trimming soon.

Persons: Christine Lagarde, Lagarde, CNBC's Sara Eisen Organizations: European Central Bank, ECB Locations: Israel

☆ A rate cut still makes sense despite recent inflation data, says HSBC's Max Kettner
▼ + 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 EmailA rate cut still makes sense despite recent inflation data, says HSBC's Max KettnerMax Kettner, HSBC chief multi-asset strategist, joins 'Money Movers' to discuss if a rate cut makes sense in this environment, the bifurcation between ECB and Federal Reserve policy, and more.

Persons: HSBC's Max Kettner Max Kettner Organizations: HSBC, Federal Reserve

☆ Yen crumbles under towering dollar and U.S. Treasury yields
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. The yen struggled to break away from a 34-year low on Friday and was headed for a weekly decline, while the dollar hovered near a five-month high alongside U.S. Treasury yields as traders heavily scaled back bets for a slew of U.S. rate cuts this year. The yen was last marginally higher at 153.17 per dollar, languishing near a 34-year trough of 153.32 per dollar hit in the previous session on the back of a surge in U.S. Treasury yields, which the dollar/yen pair tends to closely track. The benchmark 10-year yield was last at 4.5784%, flirting with a five-month peak of 4.5930% hit in the previous session. The renewed dollar strength also weighed on the Australian and New Zealand dollars , which each fell 0.02%.

Persons: Tony Sycamore, Shunichi Suzuki, David Doyle Organizations: U.S, Treasury, European Central Bank, Federal Reserve, IG, Japanese Finance, ECB, New, Macquarie Locations: U.S, United States, freefall, Tokyo, New Zealand

☆ Fed likely to cut rates before ECB blinks, former BOE member says
▼ + stars: | 2024-04-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The U.S. Federal Reserve is likely to cut interest rates before the European Central Bank does, a former member of the Bank of England said, defying current market expectations. Investors are closely monitoring central bank moves on the back of a considerable reduction in inflation across major economies. So far, Switzerland was the first major economy to cut interest rates back in late March. Market players are currently pricing in a 92.8% chance that the ECB will cut rates in June from the historically high level of 4%, according to LSEG data. Her comments come just ahead of a European Central Bank meeting due on Thursday.

Persons: DeAnne Julius, Julius, Christine Lagarde, Lagarde Organizations: U.S . Federal, European Central Bank, Bank of England, Monetary, CNBC, Tuesday, ECB, Federal Reserve Locations: Switzerland, U.S, United States

☆ European stocks set for mixed open as markets digest U.S. inflation data, look ahead to ECB decision
▼ + stars: | 2024-04-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a mixed open on Thursday as global investors digested the latest U.S. inflation data, which came in hotter than expected. European and U.S. stocks traded lower after the U.S. inflation data for March came in at 3.5% year on year, above the 3.4% expected by economists surveyed by Dow Jones and 0.3 percentage points higher than in February. Markets had expected the U.S. Federal Reserve to start cutting interest rates in June, with further cuts expected later this year, but that shifted dramatically following the release, with traders now expecting the first cut in September, according to CME Group calculations. European investors' focus is on the European Central Bank's monetary policy decision Thursday, with the central bank being closely watched for clues that it could start to cut rates in summer.

Persons: Dow Jones Organizations: Markets, U.S . Federal Reserve, Central Locations: U.S

☆ European Central Bank gives strong signal that cuts are on the way despite Fed uncertainty
▼ + stars: | 2024-04-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, March 7, 2024. The European Central Bank on Thursday held interest rates steady for a fifth straight meeting and gave its clearest signal yet of an upcoming rate cut, despite uncertainty over the U.S. Federal Reserve's next moves. In a press conference following the announcement, ECB President Christine Lagarde said this "important" new sentence was a "loud and clear indication" of the bank's current sentiment. The ECB made no direct reference to loosening monetary policy in its previous communiques. The central bank for the 20 countries that share the euro currency hiked its key rate to a record 4% in September.

Persons: Christine Lagarde, Hussain Mehdi Organizations: European Central Bank, ECB, U.S, U.S . Federal, HSBC Asset Management Locations: Frankfurt, Germany, U.S .

☆ Dollar firms, yen skids as Fed cut wagers crumble
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: +4 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Japan intervened in the currency market three times in 2022 as the yen slid toward what was then a 32-year low of 152 to the dollar. The Japanese central bank last month ended eight years of negative interest rates but yen has remained rooted near 151 per dollar levels since then. The euro was last at $1.0744, having dropped 1% on Wednesday ahead of the European Central Bank, or ECB, meeting later in the day. The Australian dollar was little changed at $0.651, while the New Zealand dollar eased 0.17% to $0.598.

Persons: Masato Kanda, Kyle Rodda, Rodda, Kazuo Ueda, Kevin Cummins, Sterling Organizations: Fed, Reuters, Bank of, Bank of Japan, Federal Reserve, U.S, NatWest, Treasury, European Central Bank, ECB, New Zealand Locations: Buenos Aires, Argentina, Tokyo, Japan, Bank of Japan, U.S

☆ Dollar firm, yen under watch ahead of key US CPI release
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The inflation data follows a strong jobs report last Friday that blew past forecasts, raising questions on how soon and how much the central bank will cut rates this year. On the yen, Wednesday's CPI data will be "a big test for Japanese authorities," Kong added. The U.S. dollar index , which measures the greenback against six rivals, held firm at 104.12. The kiwi climbed as high as $0.6077 versus the U.S. dollar, its strongest since March 21, before flattening at $0.60595.

Persons: Carol Kong, Kong, Kazuo Ueda, Sterling, bitcoin Organizations: U.S, Reserve Bank of New, Commonwealth Bank of Australia, Bank of Japan, Reserve Bank of New Zealand, U.S ., Treasury, Traders, European Central Bank, ECB Locations: Yichang, Hubei province, Reserve Bank of New Zealand, U.S, China

☆ Banks say they’re meeting climate pledges. A new report says they’re ineffective
▼ + stars: | 2024-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Why gold prices are at record highsFrom central banks to Costco customers, it seems everyone is buying gold these days, reports CNN’s John Towfighi. Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. The Honest Company posted a strong fourth quarter in March.

Persons: –, ” Mark Carney, ”, GFANZ, Jamie Dimon, ” Dimon, JPMorgan, CNN’s John Towfighi, China —, Read, Jessica Alba, Ramishah Maruf, Alba’s, Chuck Organizations: CNN Business, Bell, New York CNN, European Central Bank, Glasgow Financial Alliance, UN, Bank of England, ECB, MIT, Columbia Business School, Zero Banking Alliance, United Nations, decarbonization, CNN, JPMorgan Chase, State, JPMorgan, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, The Honest, The Honest Company, Honest, Nasdaq Locations: New York, Glasgow, China, India, Turkey

☆ Goldman Sachs chief economist: Strong case for consecutive ECB rate cuts from June
▼ + stars: | 2024-04-05 | 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 EmailGoldman Sachs chief economist: Strong case for consecutive ECB rate cuts from JuneJan Hatzius, chief economist at Goldman Sachs, discusses the outlook for European Central Bank interest rate cuts.

Persons: Goldman Sachs, Jan Hatzius Organizations: European Central Bank

☆ Euro zone inflation unexpectedly slows to 2.4% in March, with core print also below forecast
▼ + stars: | 2024-04-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published on Wednesday, boosting expectations for interest rate cuts to begin in the summer. Economists polled by Reuters had forecast the rate would hold steady against the previous month at 2.6%. The core rate of inflation, excluding energy, food, alcohol and tobacco, cooled from 3.1% to 2.9%, also coming in below expectations. Markets expect the euro zone's central bank will begin lowering borrowing costs in June — a position reflected in the recent messaging of ECB decision-makers. "Inflation has declined despite a jump in energy inflation, and a boost from an early Easter.

Persons: European Central Bank —, Price, Robert Holzmann, Carsten Brzeski, Kamil Kovar, Kovar Organizations: Reuters, European Central Bank, ECB, ING, Moody's Locations: Rome, Italy, France, Spain, Germany, Austrian

☆ Expect ECB to cut rates between now and June, strategist says
▼ + stars: | 2024-03-26 | 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 EmailExpect ECB to cut rates between now and June, strategist saysBill Papadakis, macro strategist at Lombard Odier, also discusses the Swiss central bank's recent decision to cut interest rates and the outlook for the U.S. Federal Reserve's monetary policy.

Persons: Bill Papadakis, Lombard Odier Organizations: U.S, U.S . Federal Locations: Swiss, U.S .

☆ Intervention threat curbs dollar's ascent towards new high on the yen
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +3 min

The dollar was on the front foot on Monday and kept the yen pinned near a multi-decade low, though the threat of currency intervention from Japanese authorities prevented the greenback from heading further north. "Japanese officials' verbal intervention is making 152 a very strong near-term resistance for dollar/yen," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "Markets are fully aware of a potential actual FX intervention from authorities, so I think that's keeping dollar/yen from moving substantially higher. "I think there is still a high risk that they will come in to prop up the yen if dollar/yen were to surge materially perhaps to 155. The yuan has been pressured by growing market expectations of further monetary easing to prop up the world's second-largest economy.

Persons: Carol Kong, That's, BoE, Andrew Bailey, Chris Weston Organizations: Bank of Japan's, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, Bank of England, Swiss National Bank, Sterling, Financial Times, ECB, New Zealand Locations: Japan, United States

☆ European Central Bank’s Lagarde signals June cut but says future rate path uncertain
▼ + stars: | 2024-03-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Christine Lagarde, president of the European Central Bank, at the ECB And Its Watchers conference in Frankfurt, Germany, on March 20, 2024. European Central Bank chief Christine Lagarde on Wednesday reiterated that policymakers will consider bringing interest rates down in June, but sketched an uncertain path beyond that. "By June we will have a new set of projections that will confirm whether the inflation path we foresaw in our March forecast remains valid," Lagarde said in a speech in Frankfurt. Data available by June will also provide more insight into the path of underlying inflation and the direction of the labor market, according to Lagarde. So, there will be a period ahead where we need to confirm on an ongoing basis that the incoming data supports our inflation outlook."

Persons: Christine Lagarde, Lagarde Organizations: European Central Bank, ECB Locations: Frankfurt, Germany, ECB's

BRUSSELS (AP) — The European Union is pressing ahead with a plan to use the profits generated from billions of euros of Russian assets frozen in Europe to help provide weapons and other funds for Ukraine, a senior official said Tuesday. The move comes as Ukraine runs dangerously low on munitions, and U.S. efforts to get new funds for weapons have stalled in Congress. A small group of member countries, notably Hungary, refuse to supply weapons to Ukraine, so these windfall profits would be divided up. The European Central Bank, or ECB, has warned in the past against seizing Russian assets as this could undermine confidence in the euro currency and EU markets. But Borrell said that no assets would be taken, only the windfall profits they make.

Persons: Josep Borrell, “, ” Borrell, Borrell, Alexander De Croo Organizations: Ukraine, EU, European, Parliament, European Central Bank, ECB, Belgian Locations: BRUSSELS, Europe, Brussels, Ukraine, U.S, Russian, Belgium, Hungary, russia, ukraine

☆ Why European stocks may soon start to outperform US equities, according to JPMorgan
▼ + stars: | 2024-03-18 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

There are five reasons why European stocks may soon start to outperform US equities, according to JPMorgan. According to JPMorgan, European equities may soon outperform their American peers. Even though European stocks are also susceptible to a hiccup because of increasingly hyped-up trades, the firm says fallout would be much worse in the US stock market. Third, the Citigroup Economic Surprises Indices shows that European economic activity momentum has begun moving above that of the US. AdvertisementLastly, JPMorgan sees an improving economic picture in China, which is a green flag for export-heavy European markets.

Persons: —, Mislav Matejka, There's Organizations: JPMorgan, Service, outstripping, MSCI, Citigroup, European Central Bank, ECB Locations: China

☆ Fed and other banks to make 'major progress' on rates this year, BIS chief says
▼ + stars: | 2024-03-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The Federal Reserve and the European Central Bank look poised to make "major progress" in cutting interest rates this year, according to the central bank of central banks. BIS serves as a bank and forum for national central banks, and as such has close understanding of their monetary policies. During its March meeting, the ECB held interest rates steady, but hinted at a June rate cut as it trimmed its annual inflation forecast. The Fed and the Bank of England are expected to shine future light on their plans for interest rates during their monetary policy meetings this week. The Bank of Japan is meanwhile predicted to lift interest rates on Tuesday, according to a Reuters poll, marking a major turn in its nearly two-decade-long cycle of negative interest rates.

Persons: Carstens, Annette Weisbach, disinflation, Philip Lane, JP Morgan, Goldman Sachs, BoE Organizations: Federal Reserve, European Central Bank, Bank for International, CNBC, BIS, ECB, Bank of England, Goldman, Bank of Japan

☆ European markets set to open lower after hotter-than-expected U.S. inflation data
▼ + stars: | 2024-03-15 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

European markets were poised to open slightly lower on Friday as investors digested U.S. inflation data that dented confidence in the outlook for Federal Reserve interest rate cuts this year. U.S. inflation data is being closely monitored on Wall Street ahead of the Federal Reserve's two-day policy meeting starting next Tuesday. The central bank is widely expected to hold its benchmark interest rate next week, although market participants will be searching for clues about when and by how much the Fed could start cutting interest rates over the coming months. Asia-Pacific markets fell on Friday, led lower by Hong Kong's Hang Seng index. U.S. stock futures edged lower in overnight trading as investors sought to look beyond the latest inflation reading.

Persons: Philip Lane, Kong's Organizations: Federal Reserve, Federal, European Central Bank, CNBC, ECB Locations: U.S, Asia, Pacific

☆ European Central Bank chief economist says we need to 'take our time' to get rate cuts right
▼ + stars: | 2024-03-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank must take its time to get interest rate cuts right and will have a clearer picture of inflationary pressures in June, the institution's chief economist told CNBC. Lane, also a Governing Council member, said the euro zone central bank's March meeting had been an "important milestone" in the accumulation of evidence, and showed the "disinflation process has been ongoing." During the meeting, the ECB held rates and released updated macroeconomic projections, which lowered its inflation forecast for this year to 2.3% from 2.7%. Inflation in the 20-nation bloc eased to 2.6% in February. In a press conference following the March meeting, ECB President Christine Lagarde said market pricing on the timing of rate cuts — which indicate a start in June as of Thursday — "seems to be converging better" with the central bank's view.

Persons: what's, we've, Philip Lane, Steve Sedgwick, Lane, Christine Lagarde Organizations: European Central Bank, CNBC, ECB

☆ ECB has 'fairly stable view' that inflation is easing: Chief economist
▼ + stars: | 2024-03-14 | 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 EmailECB has a 'fairly stable view' that inflation is on its way to 2%: Central bank's chief economistPhilip Lane, chief economist of the European Central Bank, discusses the path ahead for interest rates, saying the central bank needs to take its time to get rate cuts right.

Persons: Philip Lane Organizations: ECB, Central bank's, European Central Bank

☆ Watch's CNBC's full interview with ECB Chief Economist Philip Lane
▼ + stars: | 2024-03-14 | 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 EmailWatch's CNBC's full interview with ECB Chief Economist Philip LanePhilip Lane, chief economist at the ECB, discusses the outlook for central bank monetary policy, especially interest rates.

Persons: Philip Lane Philip Lane Organizations: ECB

☆ 2024 is the year of the rate cut pivot — here's when the world's central banks will budge
▼ + stars: | 2024-03-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +6 min

EIU also expects the Bank of Japan will exit its negative interest rate policy in the second quarter. Markets currently expect the Fed to start with a 25-basis-point rate cut in June. Euro zoneThe European Central Bank last week also held its policy rate at a record high of 4%, signaling that it won't cut rates before June. JPMorgan said in a research note that the Turkish central bank may cut its policy rate in November and December, keeping its year-end policy rate forecast of 45%. IndonesiaIndonesia's central bank kept its benchmark policy rate at 6% in its recent meeting.

Persons: EIU, Jerome Powell, LSEG, Nomura, Perry Warjiyo, CNBC's JP Ong, BOK, Goldman Sachs, Goohoon Kwon, Kwon Organizations: Getty, Economist Intelligence Unit, Bank of Japan, United, United States U.S, Federal, Fed, European Central Bank, ECB, Swiss National Bank, UBS, Bank of Canada, Bank of, JPMorgan, Reserve Bank of, ANZ, New Zealand Auckland Savings Bank, Bank, Bank Indonesia, BMI, Fitch Solutions, U.S, Oxford Economics, Macquarie Locations: Czech, China, Japan, United States, Switzerland Swiss, Bank of Canada, Turkey, Turkish, Reserve Bank of Australia, New, Indonesia, South Korea, Asia

☆ Yen gains as bets firm for imminent rate hike; sterling slides
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. Sterling pulled back sharply from a multi-month high, following its best week since November of 2022, amid bets the Bank of England will be slower to cut rates than the Fed or European Central Bank. The greenback eased 0.17% to 146.82 yen , heading back toward the five-week low of 146.48 reached on Friday. The next Fed meeting runs March 19-20. The ECB left rates at record highs last Thursday while cautiously laying the ground to lower them later this year.

Persons: Sterling, Jerome Powell's, bitcoin Organizations: Bank of Japan, Federal Reserve, Bank of England, European Central Bank, Westpac, Fed, ECB

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