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REUTERS/Aly Song/File PhotoLONDON, Nov 29 - A look at the day ahead in U.S. and global markets from Mike Dolan. They also cheered a relaxation of regulations on developer fundraising that eases the smouldering property sector bust. A crackdown on demonstrations happened simultaneously, with Chinese authorities making inquiries into some protesters as police flooded the city's streets. Strikingly, hawkish Dutch central banker Klaus Knot also said forecasts of recession may be overdone and fears of "overtightening" policy were a "joke". His boss European Central Bank President Christine Lagarde said euro zone inflation, which is expected to ease this month but remain above 10%, has not yet peaked, encouraging speculation of another swingeing 75 basis point interest rate rise next month.

Nov 28 (Reuters) - Euro zone government bond yields were higher on Monday after rare protests in China over the country's strict zero-COVID policies clouded the outlook for global growth and inflation. "The market is more concerned about the impact on inflation than the impact on growth," he added. Germany's 10-year government bond yield was up 4 basis points (bps) at 2.008%, after rising 12 bps on Friday. The gap between the 2-year and 10-year government bond yields rose to -20 bps. Italy's 10-year yield rose 8 bps to 3.94% pushing the closely watched spread between Italian and German 10-year yields wider by 5 bps to 191 bps.

Market betting has been swinging between a 50- and a 75- basis-point increase when policymakers meet on Dec. 15. "It's extremely exciting but predicting the ECB for a market participant has become impossible," Carsten Brzeski, global head of macro at ING, said. That saves it from more painful changes of tack after ECB President Christine Lagarde went from all but ruling-out rate hikes this year to presiding over the steepest tightening cycle in the euro's history. But Lane said in a blog post on Friday it may "overstate" how persistent inflation may be. "Inflation is being driven by factors they can't control," he added, citing energy prices, geopolitical tensions and supply-chain disruptions as some of them.

☆ ECB's Lane plays down wage, core inflation fears
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Nov 25 (Reuters) - Euro zone wage growth could keep pushing up inflation for years but this does not signal a permanent shift in wage dynamics and current indicators underlying inflation may be misleading, European Central Bank chief economist Philip Lane said on Friday. "This means that, even after energy and pandemic factors fade out of inflation measures, wage inflation will be a primary driver of price inflation over the next several years." Still, this a time-limited catch-up and should not be misinterpreted to signal a more permanent shift in wage dynamics, Lane wrote. "The current values of these measures may overstate the medium-term persistent component of inflation in this highly atypical environment," Lane said. "It is unlikely that the standard measures of underlying inflation are sending the same signals about the likely persistence of inflation dynamics than under more standard macroeconomic conditions," he added.

☆ ECB's Schnabel pushes back on smaller rate hikes
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +3 min

However Schnabel, the most influential voice in the hawkish camp, said this was premature and could even prove counter-productive. "Incoming data so far suggest that the room for slowing down the pace of interest rate adjustments remains limited, even as we are approaching estimates of the 'neutral' rate," she told an event in London. "The extraordinarily large degree of uncertainty surrounding such estimates implies that they cannot serve as a yardstick to inform the appropriate pace of interest rate adjustments. Dutch governor Knot expressed doubts over market expectations for the ECB's deposit rate, currently at 1.5%, to peak at 3%. In all honesty, I'm not sure about that," Knot told a hearing at the Dutch parliament.

☆ Morning Bid: COVID vs RRR
▼ + stars: | 2022-11-24 | by ( Stella Qiu | ) www.reuters.com time to read: +2 min

SYDNEY, Nov 24 (Reuters) - A look at the day ahead in European and global markets from Stella Qiu:Another central bank pivots. This has aided the risk-on mood in the market, with Asian shares mostly advancing and U.S. dollar broadly weaker. The minutes of the Fed's November policy meeting showed a "substantial majority" of policymakers reckon it will "likely soon be appropriate" to slow the pace of rate hikes. China's COVID infections hit a record high, with Beijing, which has the strictest rules, failing to contain the spreading virus. "In our view, ending zero COVID as soon as possible is the key to raising credit demand and bolstering growth."

☆ ECB will likely need to raise rates to level that curbs growth-Schnabel
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

LJUBLJANA, Nov 10 (Reuters) - The European Central Bank will probably need to raise interest rates to a level that weakens growth to curb high inflation that is at a growing risk of taking hold in the euro zone, ECB board member Isabel Schnabel said on Thursday. With euro zone inflation running in double digits, the ECB has been raising rates at a record pace even as the euro zone economy heads for recession. read moreBut Schnabel, the leader among ECB hawks who favour higher borrowing costs, said the central bank should press ahead, likely reaching "restrictive territory", or a level of rates that curbs economic growth. "We will need to raise rates further, probably into restrictive territory." "This is currently unlikely, not least due to the robust labour market, large excess savings and the massive fiscal support."

☆ ECB to lend out more of its bonds to ease market squeeze
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Nov 10 (Reuters) - The European Central Bank has raised the amount of bonds it can lend against cash to 250 billion euros to ease a market squeeze that tends to get worse towards the year of the year, ECB board member Isabel Schnabel said on Thursday. This has led the ECB to increase the amount of bonds it makes available for lending to ease that scarcity, which is particularly acute at year-end when commercial banks shut up shop. "The Governing Council raised as of today the limit for the Eurosystem’s securities lending against cash collateral from 150 billion euros to 250 billion euros," Schnabel said in a tweet. "This is a precautionary measure to ease collateral scarcity and support market functioning around the year-end." Some analysts expect the dearth of government bonds to ease next year when the ECB starts shrinking its pile of bonds to mop up excess liquidity and fight runaway inflation in the euro zone.

☆ Morning Bid: Red wave
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

The "red wave", however, showed up in markets. The S&P 500 (.SPX) fell 2% on Wednesday and the dollar seemed to catch a bid from a wave of cryptocurrency selling. Bonds rallied with the risk-averse mood, which opens the door for disappointment as U.S. inflation data comes into focus later on Thursday. Share markets fell around Asia, with MSCI's broadest ex-Japan index (.MIAPJ0000PUS) down 1%. European futures fell 0.6%.

☆ Gold flat as firm dollar, U.S. rate hike dent appeal
▼ + stars: | 2022-09-23 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Friday as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the U.S. Federal Reserve also weighed on the appeal for non-yielding bullion. Gold prices were flat on Friday as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the U.S. Federal Reserve also weighed on the appeal for non-yielding bullion. Spot gold was flat at $1,671.60 per ounce by 0107 GMT. Gold prices have fallen nearly 20% since scaling above the key $2,000 per ounce mark in March. Spot silver was flat at $19.64 per ounce, platinum rose 0.3% to $903.22, while palladium dipped 0.2% to $2,165.10.

☆ Morning Bid: After manic week, TGIF
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Guest walk on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.com RegisterA look at the day ahead in European and global markets from Anshuman DagaFriday is shaping up as a slow day. Equity markets are still licking their wounds, U.S. bond yields are at 11-year highs and the dollar is hovering near a two-decade peak. Register now for FREE unlimited access to Reuters.com RegisterStill, investors have probably had enough this week, with the Fed raising rates by 75 basis points as expected but jolting markets with a sobering outlook. read moreA host of central banks including the UK, Swiss and Norwegian raised interest rates this week, providing no signs that borrowing costs are nearing a peak.

☆ ECB must keep raising rates despite downturn, Schnabel says
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

European Central Bank board member Isabel Schnabel attends a dinner program at Grand Teton National Park where financial leaders from around the world are gathering for the Jackson Hole Economic Symposium outside Jackson, Wyoming, U.S., August 25, 2022. REUTERS/Jim Urquhart/File PhotoFRANKFURT, Sept 22 (Reuters) - The euro zone is facing an economic downturn but inflation is still far too high, so interest rates need to keep going up, European Central Bank board member Isabel Schnabel said. "A looming downturn would have a dampening effect on inflation," Schnabel told German news website t-online in an interview. "However, the starting point of interest rates is very low, so it is clear that we need to continue raising rates." Schnabel did not hint which way she was leaning but merely said the ECB would do whatever is needed to get inflation under control.

☆ European stock index futures drop 1.5% after hawkish Fed signal
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 21, 2022. REUTERS/StaffSept 22 (Reuters) - European stock index futures tumbled on Thursday as the U.S. Federal Reserve delivered another super-sized interest rate hike and signalled more increases in its fight against stubbornly high inflation. The EURO STOXX 50 index futures and Germany's DAX futures lost 1.5% each, as of 0606 GMT, taking cues from Wall Street overnight. read moreMeanwhile, European Central Bank board member Isabel Schnabel said interest rates need to keep going up as inflation is still far too high, even as the euro zone faces an economic downturn. read moreLondon's FTSE 100 index futures dropped 0.9% ahead of what will likely be the Bank of England's second large interest rate hike later in the day.

☆ Recesiunea cauzată de COVID-19 este foarte diferită de cele din trecut, avertizează o membră a boardului BCE
▼ + stars: | 2020-08-22 | by ( Https | Www.Facebook.Com Radiochisinau | ) radiochisinau.md time to read: +4 min

Aceste persoane nu s-au înregistrat ca fiind șomere așadar nu sunt incluse în statisticile privind rata șomajului. Rata șomajului a depășit 12% în 2013 în timpul crizei datoriilor suverane. „Ce vedem de asemenea, și eu cred că este important, e că [criza] afectează țările în moduri foarte diferite dar afectează foarte diferit și persoanele din cadrul aceleiași țări”, a precizat aceasta. „Acest lucru prezintă noi provocări, preponderent pe partea fiscală dar, bineînțeles, afectează și politica monetară”. „Este important ca creditarea să rămână pe atât de puternică pe cât este nevoie”, a declarat și Schnabel, adăugând că BCE analizează „toate” instrumentele disponibile.

Persons: Isabel Schnabel, Christine Lagarde, Schnabel, Lagarde Organizations: Europene, Central Europene, BCE, Euro, Bank Locations: BCE, Euro, Statelor Unite, Marii Britanii, Bank of England

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