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But the rate decision is likely to be the easy part of Thursday's meeting. The ECB's rate decision is due out at 1315 GMT, followed by Lagarde's news conference at 1345 GMT. Having borrowed at zero or even negative rates, banks can now simply park this cash back at the ECB for a positive, risk-free return, which rises with each deposit rate hike. The ECB would also be justified on monetary policy grounds to act, as abundant liquidity is keeping interest rates too low - money market rates are still slightly below the central bank's deposit rate. The bank is likely to decide to change the bank loan terms, but the devil will be in the detail as only imperfect options are available to it.

☆ Markets look for answers from the European Central Bank as it preps for a jumbo rate hike
▼ + stars: | 2022-10-26 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

While the European Central Bank is largely expected to announce another rate hike Thursday, market players are seemingly more concentrated on two other policy tools as the region edges toward a recession. The central bank has been contemplating inflation being at record highs but an economy that is slowing, with many economists predicting a recession before the end of the year. Amid this context, the ECB is widely seen raising rates by 75 basis points later this week. This would be the second consecutive jumbo hike and the third increase this year. Given the inflationary pressures — the September inflation rate came in at 10% — analysts are pricing in at least another 50 basis point hike in December.

☆ U.S. labor market needs to be 'much softer,' says wealth management firm
▼ + stars: | 2022-10-14 | 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 EmailU.S. labor market needs to be 'much softer,' says wealth management firmAlexandre Tavazzi of Pictet Wealth Management says as long as the U.S. labor market remains as tight as it is, the U.S. Federal Reserve will continue to hike interest rates.

☆ Pictet Wealth Management says Fed over-tightening rates potentially greater risk than underdoing it
▼ + stars: | 2022-09-21 | 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 EmailPictet Wealth Management says Fed over-tightening rates potentially greater risk than underdoing itThomas Costerg, senior economist at Pictet Wealth Management, discusses the Fed's forthcoming rate hike decision and its impact on the labor market and economy.

Whacked further by a soaring dollar, indices of overseas sovereign bonds in dollar terms are down almost 24% - even worse than then S&P500's (.SPX) 19% year-to-date reversal. Far from portfolio buffers, these sorts of moves make bonds meat and drink for hedge funds. And even though equity prices have fallen and cheapened on many models, their relative value versus bonds has not. It trimmed expected equity returns by a quarter point. Reuters poll-U.S. treasury yield outlookRobeco Chart on Asset Allocation HistoryThe opinions expressed here are those of the author, a columnist for Reuters.

☆ Stocks muted, Sweden kicks off salvo of central bank hikes
▼ + stars: | 2022-09-20 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

The MSCI all country stock index (.MIWD00000PUS) was 0.2% ahead, leaving it down about 20% from a lifetime high in January. Sweden's central bank hiked rates by a greater than expected full percentage point on Tuesday and warned of more to come. read moreLuca Paolini, chief strategist at Pictet Asset Management, said the U.S. central bank would likely ease the pace of hikes going into next year. "The market, in a way, is probably expecting a peak in rates," Paolini said, adding that market focus would then switch to how higher rates were affecting economies and company earnings. Terminal rate projection also leapsCONTRARIAN CHINAChina's central bank kept its benchmark lending rates unchanged at a monthly fixing on Tuesday, as expected.

☆ Patmos: The Greek island where the end of the world began
▼ + stars: | 2018-09-17 | by ( John Malathronas | ) edition.cnn.com time to read: +9 min

CNN —The island of Patmos, sitting under perfect blue skies in the eastern reaches of the Aegean sea, may look like a typical vacation destination in Greece, but it isn’t. ‘Sacred island’The island is dominated by the fortress-like Monastery of St. John. John MalathronasChristos Patakos, manager of Patmos Aktis, the only five-star hotel on the island, shook his head. “There’s a general feeling, especially among the regulars and those who own houses on Patmos, that the island must be ‘protected’ from mass tourism. Patmos Aktis Suites & Spa, Patmos 855 00; +30 2247 032800Monastery of St. John the Theologian, Patmos 855 00; +30 2247 031223

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