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Mārtiņš Kazāks, governor of the Bank of Latvia and a member of the European Central Bank's Governing Council, on Thursday weighed in on the possibility of a jumbo half-point interest rate cut for December. When asked for his views on a 50-basis rate cut by the ECB at its next meeting, he said that "everything should be on the table." "But we will have that discussion in December," he told CNBC's Karen Tso at the IMF's annual meetings in Washington, D.C. Thursday. His comments come after the ECB delivered a back-to-back interest rate cut for the first time in 13 years at its October meeting. It also comes a day after Portuguese central bank chief Mario Centeno made similar comments.

Persons: Mārtiņš Kazāks, CNBC's Karen Tso, —, Mario Centeno, Centeno Organizations: Bank of, European Central Bank's Governing, ECB, CNBC Locations: Bank of Latvia, Washington ,, Portuguese

☆ UniCredit's pursuit of Commerzbank reflects a watershed moment for Europe — and its banking union
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Kirill Kudryavtsev | Afp | Getty ImagesEuropean banking's latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc's incomplete banking union. Whatever the outcome of UniCredit's swoop on Commerzbank, Marsh said the episode marks "another huge test" for German Chancellor Olaf Scholz. What is Europe's banking union? OMFIF's Marsh said Germany's opposition to UniCredit's move on Commerzbank means Berlin "now stands accused of favouring European banking integration only on its own terms." The logo of German bank Commerzbank seen on a branch office near The Commerzbank Tower in Frankfurt.

Persons: Kirill Kudryavtsev, Italy's UniCredit, David Marsh, Marsh, Olaf Scholz, Scholz, –, Germany's Scholz, OMFIF's Marsh, UniCredit's, Daniel Roland, Onur Genç, Mario Centeno, CNBC's, —, Centeno Organizations: European Central Bank, Afp, Getty, London, European Union, CNBC, BBVA, Banco Sabadell, Reuters, European Central Bank's Governing, EU Locations: Frankfurt, Germany, Germany's, Milan, Europe, Commerzbank, Italy, Berlin, Spanish, Brussels, Spain

☆ ECB's Wunsch: Room to cut interest rates another 25 basis points in current environment
▼ + stars: | 2024-07-03 | 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's Wunsch: Room to cut interest rates another 25 basis points in current environmentPierre Wunsch, governor of the National Bank of Belgium and member of the European Central Bank's Governing Council, says the ECB can lower its key rate from 3.75% to 3.5% if current projections stay on track.

Persons: Pierre Wunsch Organizations: National Bank of Belgium, European Central Bank's Governing

☆ ECB's Boris Vujčić: We will 'run our policy independently of the Fed'
▼ + stars: | 2024-04-18 | 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's Boris Vujčić: We will 'run our policy independently of the Fed'Boris Vujčić, Croatian central bank governor and the European Central Bank's Governing Council Member, says there have been "obvious divergences between the U.S. and Europe since the start of the inflation cycle."

Persons: Boris Vujčić Organizations: Central Bank's Governing, Member, U.S Locations: Croatian, Europe

☆ European Central Bank holds rates steady, gives no hint at cuts ahead
▼ + stars: | 2024-01-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank on Thursday held interest rates unchanged, and reiterated it would keep them high for a "sufficiently long duration" to bring inflation to target. The central bank is holding steady for the third straight meeting, after hiking its deposit rate to 4% in September. The central bank is facing a sluggish euro area economy and fragile financial stability, but it is also focused on bringing inflation down to 2% from 2.9% currently. The ECB is highly concerned with cutting rates too soon and undoing some of the effects of the existing tightening. On Thursday morning, markets were factoring in a 62% probability of an April cut, according to LSEG data.

Persons: Christine Lagarde Organizations: European Central Bank, ECB

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell swore in three members of the central bank's governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank's first Latina governor. As Fed governors, they will vote at the Fed's eight yearly meetings on interest rate policies as well as on changes to financial regulations. Political Cartoons View All 1157 ImagesJefferson, who first joined the board last year, was sworn in as vice chair and will therefore work closely with Powell on interest rate policy. His term as vice chair will end Sept. 7, 2027, though he can remain on the board as a governor until 2036. She was a Marshall scholar at Oxford University and holds a Ph.D. in economics from the University of California, Berkeley.

Persons: Jerome Powell, Philip Jefferson, Adriana Kugler, Joe Biden, aren't, Kugler, Lael Brainard, Obama, Jefferson, Powell, Biden, Lisa Cook, Cook Organizations: WASHINGTON, —, Latina, Georgetown University, Fed, United States ’, World Bank, Labor, Davidson College, University of Virginia, Michigan State University, Harvard University’s Kennedy School of Government, Oxford University, University of California Locations: Georgetown, United States, North Carolina, Marshall, Berkeley

Colombian-born Kugler, whose research has focused on labor markets, is the first Latina to join the Fed Board in its 109-year history. The vote was 53-45, with a few Republicans supporting a nomination that was championed by Democratic Senator Bob Menendez. The Senate on Wednesday also confirmed Fed Governor Philip Jefferson as Fed vice chair and Fed Governor Lisa Cook to a second term. Jefferson's success as vice chair will hinge on his ability to help Powell manage that process. Reporting by Ann Saphir; Editing by Paul Simao and Timothy GardnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Adriana Kugler, Jonathan Ernst, Kugler, Bob Menendez, Menendez, Philip Jefferson, Lisa Cook, Cook, Jerome Powell, Powell, Michael Feroli, Jefferson, she'll, Derek Tang, Tang, Ann Saphir, Paul Simao, Timothy Gardner Organizations: Federal Reserve, of Governors, Capitol, REUTERS, U.S, Senate, Bank, Fed Board, Democratic, Wednesday, Jefferson, JPMorgan, Fed, Thomson Locations: Washington , U.S, Cuban, United States, U.S

☆ ECB's Visco says falling energy prices should help tame inflation
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: +2 min

ROME, June 3 (Reuters) - The rapid decline in energy costs should help to tame inflation in Europe, Bank of Italy governor Ignazio Visco said on Saturday, urging companies not to seek to boost their margins by leaving prices higher for longer. Visco, a member of the European Central Bank's governing council, said the key issue was what happened to inflation now that energy prices had retreated from peaks hit after last year's Russian invasion of Ukraine. Core inflation, which excludes volatile food and fuel prices and which has played an increasing role in the ECB's policy deliberations, fell to 5.3%. Visco warned against a wage-price spiral, saying salary rises should come against a backdrop of a growing economy rather than chasing inflation. "It is not in the interest of companies themselves ... to fail to reflect the lower cost of energy in their prices because then the cost of financing would rise," he added.

Persons: Ignazio Visco, Visco, Keith Weir, Giles Elgood Organizations: Bank of Italy, European Central, ECB, Thomson Locations: Europe, Ukraine, Turin

Companies European Central Bank FollowLONDON, April 24 (Reuters) - France's central bank governor François Villeroy de Galhau has pushed back against criticism of central banks' increasing involvement in the fight against climate change, calling the issue a "must have" focus. "Central banks' core mandate worldwide is price stability, and climate change already affects the level of prices and activity," Villeroy stressed. The debate about how much influence central banks can have in tackling climate issues has become increasingly divisive this year. Villeroy, however, who has long been a firm advocate of doing more, urged central banks and others to come up with better models of how climate change is likely to alter economies. It is also aiming to release short-term climate change scenarios by the end of 2024, which should show more adverse developments, incorporate tougher "shocks" and directly explore the potential impacts of climate change on inflation.

☆ European banks 'doing OK' but contagion still a risk, Bank of Italy governor says
▼ + stars: | 2023-04-13 | 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 EmailEuropean banks 'doing OK' but contagion still a risk, Bank of Italy governor saysIgnazio Visco, governor of the Bank of Italy and member of the European Central Bank's governing council, discusses the Italian and wider European banking sectors, the outlook for the EU economy and next steps on monetary policy.

☆ Bank of Canada says rates may have to remain restrictive for longer
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: 1 min

OTTAWA, April 12 (Reuters) - Interest rates in Canada may have to stay restrictive for longer to ensure inflation declines to the Bank of Canada's 2% target, Governor Tiff Macklem said on Wednesday. Macklem, speaking after the bank announced that it was holding its key rate at 4.50%, said the central bank's governing council had discussed whether rates had been raised enough. Macklem said that while the bank was encouraged inflation was dropping, the job of monetary policy was not done. "We considered the likelihood that the policy rate may need to remain restrictive for longer to return inflation to the 2% target," he said. (Reporting by David Ljunggren, editing by Steve Scherer)((Reuters Ottawa bureau, david.ljunggren@tr.com))Keywords: CANADA CENBANK/MACKLEMOur Standards: The Thomson Reuters Trust Principles.

☆ Irish central bank chief calls for ban on crypto advertising
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationDUBLIN, Jan 25 (Reuters) - Ireland's central bank governor urged lawmakers on Wednesday to ban the advertising of crypto assets targetted at young adults, likening crypto not linked to any underlying assets to a Ponzi scheme. A long-time critic of crypto assets, Gabriel Makhlouf said that while they presented minimal financial stability risk for now, the Irish regulator was very concerned about the impact on retail customers. "There's a reasonable number of young adults who have put their money into crypto and there is an uncomfortable level of advertising that is targeted at that cohort. If you could find a way, I would recommend that adverts to that cohort are banned," Makhlouf told an Irish parliamentary committee. "Unbacked crypto is essentially a Ponzi scheme... People who put their money into unbacked crypo, and most of the significant stock of crypto out there is unbacked, they are essentially gambling."

☆ ECB's Centeno: we are approaching the end of the interest rate rise process
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

LISBON, Jan 10 (Reuters) - European Central Bank's governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end. "We are approaching the end of the current process of interest rate hikes, I believe that is true," he said. Annual inflation in the euro zone slowed to 9.2% in December from 10.1% in November, data from Eurostat showed on Friday. The ECB forecast a gradual decline in inflation but only approaching its 2% target within three years. Reporting by Sergio Goncalves; Editing by Inti Landauro and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

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