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Search resuls for: "Bostjan Vasle"


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A view shows the placards of the political parties in front of the European Central Bank (ECB) building in Frankfurt, Germany, September 14, 2023. The central bank for the 20 countries that use the euro has already raised interest rates 10 times to record levels but inflation remains well above its 2% target. ECB President Christine Lagarde said last week that policymakers had not discussed the bond-buying schemes at their latest policy meeting. She described the PEPP as the ECB's "first line of defence" to preserve policy transmission - central bank jargon for bond market stability in the most indebted countries. Slovenian central bank governor Bostjan Vasle recently backed selling bonds bought under the ECB's older Asset Purchase Programme, which is less flexible than the PEPP.
Persons: Wolfgang Rattay, Christine Lagarde, Bostjan Vasle, Peter Kazimir, Catherine Evans Organizations: European Central Bank, REUTERS, Central Bank, Reuters, ECB, Thomson Locations: Frankfurt, Germany, Italy, FRANKFURT, Athens, Slovenian, PEPP, Sintra
This would take the rate the ECB pays on bank deposits to the highest level since November 2008, after a steady climb from a record low of -0.5% in July. Reuters GraphicsThe ECB said in December that rates would be increased "at a steady pace" until it is happy inflation is heading back down to its 2% target. BNP Paribas also thought the ECB might take out the reference to a "steady pace" of rate hikes or offset it so that a 50-basis-point increase would be "not predetermined (but) still a possible outcome". And an ECB survey showed banks were tightening access to credit by the most since the 2011 debt crisis - usually the harbinger of lower growth and slowing inflation. To some observers, this meant the ECB would be wise not to commit to any future policy move.
DUBLIN, Jan 25 (Reuters) - European Central Bank policymakers Joachim Nagel and Gabriel Makhlouf said on Wednesday they would not be surprised if interest rate increases continue into the second quarter after two expected moves in February and March. Nagel said the ECB had already committed to raising rates sharply again over the next two months. Nagel, the president of Germany's Bundesbank, told Spiegel magazine that he "wouldn't be surprised if we have to keep raising rates even after the two announced steps." While euro zone inflation eased to an annualised 9.2% in December from 10.1% a month earlier, Ireland's Makhlouf said it remains "far too high." Reporting by Padraic Halpin; Editing by Frank Jack Daniel, Kirsten Donovan and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
Investors will also look to ECB boss Christine Lagarde for guidance on how the ECB views the trade-off between recession risks and inflation, and when it might pause tightening. Economists say it's too early to call a peak in inflation but the chances of one arriving soon are growing. While an inflation peak may be close if there are no additional shocks from the war in Ukraine, the retreat will be slow initially, ECB policymaker Bostjan Vasle believes. Reuters Graphics Reuters Graphics4/ Is the ECB giving away cash to banks and what will it do about it? Aggressive rate hikes from major central banks and a rout in British bonds have sparked concern about financial instability.
Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. "I think that our most recent pace for hikes is also appropriate at our next two meetings." When asked if he meant 75 basis points, Vasle, considered a hawk on the 25-member Governing Council, said "I think so." ECB policymakers have said that the first goal is to reach the "neutral" level for rates, where the bank is neither stimulating nor holding back growth. However, reivnvestments in a smaller Pandemic Emergency Purchase Programme, set to run through 2024, should continue as planned, Vasle added.
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