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Search resuls for: "European Central Bank"


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A Trump win would pose risks to economic growth and inflation in Europe, ECB member Joachim Nagel says. Officials in Europe, for their part, are warily eyeing what a Donald Trump win would mean. Nagel's comments come just weeks before the US presidential election and follow previous warnings from ECB members about the potential impact of a Trump win. AdvertisementBack in January, ECB president Christine Lagarde said a Trump win is "clearly a threat" to Europe considering the policies he implemented during his first term in office. She pointed to Trump's tariffs, commitment to NATO, and climate change policies, which she said were misaligned with European interests.
Persons: Joachim Nagel, Nagel, , Donald Trump, Trump, he'd, " Nagel, there's, it's, Harris, Kamala Harris, Christine Lagarde Organizations: Trump, Service, European Central Bank Governing, Tuesday, Bloomberg, Federal, NATO Locations: Europe, Germany, Berlin, Italy, EU
The euro languished not far from a three-week trough reached in the previous session, after normally hawkish European Central Bank policymaker Isabel Schnabel took a dovish tone on inflation, cementing bets for a rate cut this month. Currently, traders lay 34.6% odds of another 50 basis-point U.S. rate cut on Nov. 7, after the Fed kicked off its easing cycle with a super-sized reduction last month. "I do think that if the payrolls report overall is not too shabby tomorrow night, then we will see that pricing (for a 50 basis-point cut) coming in quite significantly." The dollar added 0.09% to 146.575 yen after earlier reaching 146.885 for the first time since Sept. 3. The euro was little changed at $1.10455, sitting not far from Wednesday's low of $1.10325, a level last seen on Sept. 12.
Persons: European Central Bank policymaker Isabel Schnabel, Ray Attrill, Attrill, Asahi Noguchi, Sterling Organizations: Federal Reserve, European Central Bank, Private U.S, ADP, Fed, National Australia Bank, Dovish Bank of Japan Locations: U.S, Iran, Israel
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe European Central Bank is facing a 'catch-22' when it comes to interest rate cuts, Allianz economist saysLudovic Subran, chief economist at Alliaz, says the "situational crisis" in the Middle East and how central banks manage the descent of interest rates are the two main concerns that could impact monetary policy.
Persons: Ludovic Subran Organizations: European Central Bank, Allianz
Euro zone inflation fell to 1.8% in September, coming in below the European Central Bank's 2% target, flash data from statistics agency Eurostat showed Tuesday. The reading was in line with the expectations of economists polled by Reuters, after annual inflation hit a three-year-low of 2.2% in August. The core inflation rate, which excludes more volatile energy, food, alcohol and tobacco prices, came in at 2.7%. The figures come after September inflation eased below the 2% European Central Bank target in several key euro zone economies, including France and Germany. European Central Bank President Christine Lagarde on Monday said that policymakers were becoming more confident about inflation returning to the 2% target.
Persons: Christine Lagarde, Lagarde Organizations: Central, Reuters, Central Bank, European Central Bank, European Parliament's, Economic, Monetary Affairs Locations: A Coruna, Spain, France, Germany
LONDON — European stocks are expected to kick off October trading in positive territory after ending September on a somber note. The upbeat start to October comes after European stocks closed lower on Monday, with almost all sectors and major bourses in negative territory. Investor focus on Tuesday will be centered on preliminary inflation data from the euro zone for September. Preliminary harmonized German inflation data released on Monday showed the country's consumer price index eased to 1.8% in September, down from 2% in August. Last week, preliminary data showed the harmonized inflation rate in both France and Spain plunged below the ECB's 2% target in September.
Persons: Germany's DAX Organizations: CAC, IG, European Central Bank Locations: France, Spain
The September harmonized CPI figure had been forecast to come in at 1.9% according to a Reuters poll. The German harmonized CPI figure was last under 2% — which is the European Central Bank's target rate for inflation — in February 2021, LSEG data indicated. For that, the still elevated core inflation rate would also need to ease notably. Within Europe, data published last week showed that the harmonized inflation rate in France and Spain fell below the 2% target in September. "The recent series of disappointing economic sentiment indicators and lower-than-expected inflation data have provided new strong arguments for ECB doves," he said.
Persons: Destatis, Sebastian Becker, Becker, Carsten Brzeski Organizations: European Union, Deutsche Bank Research, CNBC, European Central Bank, ING, ECB Locations: Berlin, Germany, European, Westphalia, Europe, France, Spain
France's harmonized inflation rate fell sharply in September, preliminary data from the National Institute of Statistics and Economic Studies (Insee) showed Friday. Harmonized consumer prices in the euro zone's second-largest economy came in at 1.5% in September, down from 2.2% in August. The Harmonized Index of Consumer Prices (HICP) is adjusted for comparison with other euro zone countries. Altogether, Insee said that the September drop in consumer prices represents the sharpest monthly fall since 1990. Tobacco prices were expected to be virtually unchanged in September, compared to the previous month, Insee said.
Organizations: Eiffel, Paris, National Institute of Statistics, Economic Studies, Consumer, Reuters, European Central Bank, ECB, France's, Index, Olympic, Paralympic Games Locations: Paris, London
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. It was the first major Western central bank to reduce interest rates back in March. Domestically, Swiss inflation remains subdued, with the latest headline print pointing to a 1.1% annual increase in August. Further cuts in the SNB policy rate may become necessary in the coming quarters to ensure price stability over the medium term," it added. He added that the central bank may nevertheless have to reduce rates again to retain inflation in the 0-2% target range.
Persons: exacerbation, Swissmem, SNB, Kyle Chapman, Chapman, Thomas Jordan, Jordan, Adrian Prettejohn, Prettejohn Organizations: Swiss National Bank, European Central Bank, U.S . Federal Reserve, Swiss, U.S ., ING, Ballinger Group, Reuters, Capital Economics Locations: Zurich, Switzerland, Swiss, Europe
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
Firms will be able to control the "data residency" of software code stored on GitHub — effectively meaning they can decide which regions the data is kept in. GitHub Enterprise Cloud is a paid product the firm only offers to businesses. "The EU has been in the center of this [data residency] movement since the beginning of the cloud days." Going forward, GitHub plans to roll out data residency within its GitHub Enterprise Cloud across other regions, including Australia, Asia, and Latin America. EU push for digital 'sovereignty'GitHub's data residency push ties into a broader political and regulatory theme within the EU around so-called digital "sovereignty."
Persons: GitHub, Jonathan Raa, , Thomas Dohmke, Dohmke, Shelley McKinley, Mario Draghi, Draghi, GitHub's Dohmke, it'll Organizations: Microsoft, Nurphoto, Getty Images Microsoft, European Union, EU, Companies, CNBC, European Central Bank Locations: Europe, Australia, Asia, America, EU, China, France, Finland
The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The yen edged up to 143.45 per dollar, but remained close to the center of its September range of 147.20 to 139.58, a more than one-year peak reached on Sept. 16. The yen has retreated amid waning bets for aggressive tightening by the BOJ, particularly after governor Ueda struck a cautious tone of Friday, saying the central bank would spend some time monitoring global growth risks. The BoE kept rates unchanged last Thursday, with its governor saying the central bank had to be "careful not to cut too fast or by too much".
Persons: Kazuo Ueda, , Pan Gongsheng, Ueda, Sterling, BoE Organizations: U.S, Bank of Japan, Bank of England, Federal Reserve, European Central Bank, Reuters, Commonwealth Bank of Australia, People's Bank of China, P Global Locations: China
How Fed rate cuts affect the global economy
  + stars: | 2024-09-18 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com   time to read: +4 min
The Federal Reserve's interest rate decisions can influence the trajectory of the U.S. economy. Changes to the Fed's interest rate can influence the cost of loan products such as mortgages and the value of cash, bonds and stocks. The Federal Reserve's decision to cut interest rate comes after months of shaky labor market data in the U.S. Fed decisions can also impact foreign exchange markets given their effect on the value of U.S. dollars, the global reserve currency. Economists at the Fed write that China's central bank has managed the value of the yuan to help the country achieve its goals on trade.
Persons: Gregory Daco, Federal Reserve Board they're, Reena Aggarwal, they've, Freya Beamish, Beamish Organizations: Federal, Market Committee, International Monetary Fund, U.S, European Central Bank, IMF, Federal Reserve Board, Georgetown, Psaros, CNBC, People's Bank of, Federal Reserve, TS Lombard Locations: U.S, EY, United States, People's Bank of China, China
Punit Paranjpe | Afp | Getty ImagesIndia can achieve sustainable economic growth of up to 8% over the medium term, according to the country's central bank governor. The figures have ratcheted up pressure on the central bank to launch its own rate-cutting cycle sooner rather than later. Shaktikanta Das, governor of the Reserve Bank of India (RBI), speaks during the Global Fintech Fest 2024 in Mumbai, India, on August 28, 2024. Nurphoto | Nurphoto | Getty ImagesIt comes as major central banks have started to ease monetary policy in recent months, including the European Central Bank, the Bank of England and the Swiss National Bank. Women (silhouetted) walk past Reserve Bank of India (RBI) logo displayed at Global Fintech Fest exhibition in Mumbai.
Persons: Punit Paranjpe, CNBC's Tanvir Gill, Shaktikanta Das, Das, Goldman Sachs Organizations: Afp, Getty, Reserve Bank of India, International Monetary Fund, Nurphoto, European Central Bank, Bank of England, Swiss National Bank, The U.S . Federal Reserve, ECB, Bank of India, Global Locations: Mumbai, India, Japan, Germany, U.S, China
Currencies listless as markets waffle over Fed rate cut
  + stars: | 2024-09-16 | by ( ) www.cnbc.com   time to read: +4 min
A quarter-point reduction by the Fed as it kicks off its rate cuts is still seen as the slightly more likely outcome, but only marginally so. Futures price a total of 125 basis points in rate cuts in 2024. Investors are also looking to the Bank of Japan's interest rate decision on Friday, when it is expected to keep its short-term policy rate target steady at 0.25%. Bank of Canada Governor Tiff Macklem meanwhile opened the door to stepping up the pace of interest rate cuts, the Financial Times reported on Sunday. The BoC, after keeping its key policy rate at 5%, a more than two-decade high, for a year, has trimmed it by a quarter point three times in a row since June.
Persons: Chris Weston, Fumio Kishida, Sanae Takaichi, Christine Lagarde, Philip R, Lane, Luis de Guindos Organizations: U.S, Bank of England, Bank of Japan, Treasury, Fed, FedWatch, Bank of, Liberal Democratic Party, Sterling, European Central Bank, ECB, Bank of Canada, Financial Times, BoC Locations: Japan, Asia, China, South Korea
Kevin Dietsch | Getty ImagesA flurry of major central banks will hold monetary policy meetings this week, with investors bracing for interest rate moves in either direction. The U.S. central bank is widely expected to join others around the world in starting its own rate-cutting cycle. Elsewhere, Brazil's central bank is scheduled to hold its next policy meeting across Tuesday and Wednesday. Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. The central bank delivered its first interest rate cut in more than four years at the start of August.
Persons: Jerome Powell, William McChesney Martin, Kevin Dietsch, John Bilton, CNBC's, Bilton, David Volpe, Volpe, 25bps, Wilson Ferrarezi, BOE, Ruben Segura Cayuela Organizations: Federal Reserves, Washington , D.C, Federal, Traders, The Bank of England, Norway's Norges Bank, South Africa's, Bank, Bank of Japan, Morgan Asset Management, European, Bank of England, ECB, Emerald Asset Management, Banco Central, TS Lombard, Central Bank of, Bloomberg, Getty, Reuters, Bank of America Locations: Washington ,, U.S, Brazil's, Brazil, Central Bank of Brazil, Brasilia, South Africa, Norway, Japan
LONDON — European stocks are set to open higher Friday as investors continue to digest the European Central Bank's decision to cut rates and its impact on future monetary policy. The U.K.'s FTSE 100 is seen opening 1 point higher at 8,239, France's CAC up 20 points at 7,448, Germany's DAX 57 points higher at 18,563 and Italy's FTSE MIB up 41 points at 33,484 ,according to IG data. The European Central Bank slashed rates as expected on Thursday, marking its second 25-basis-point cut this year and bringing its key interest rate to 3.5%. Policymakers gave little indication on the course for monetary policy, however, with President Christine Lagarde saying the bank was not "pre-committing to a particular rate path." Asia-Pacific markets, meanwhile, were mixed, as mainland Chinese markets rebounded from a six-year low and Australian markets near an all-time high.
Persons: Germany's DAX, Christine Lagarde Organizations: Central, France's CAC, European Central Bank, U.S, U.S . Federal Locations: U.S ., Asia, Pacific, Europe, France
Dollar weak as traders add to wagers of big rate cut from Fed
  + stars: | 2024-09-13 | by ( ) www.cnbc.com   time to read: +3 min
While the Fed is all but certain to cut rates next week, uncertainty around whether it will go with a 25 basis point cut or 50 basis points has kept investors on the edge and weighed on the dollar. Analysts pointed to media reports from the Financial Times and the Wall Street Journal suggesting the Fed's decision would be a close call as one of the reasons for traders adding to wagers of a big rate cut next week. Higher U.S. jobless claims data released on Thursday and the Wall Street Journal article on the Fed's rate cut dilemma revived bets on a jumbo cut at the September meeting, according to Christopher Wong, currency strategist at OCBC. Besides the Fed, the Bank of England and Bank of Japan hold policy meetings next week. "Risks remain that inflation may not return to target as easily as everyone, including the Fed, seems to expect."
Persons: Christopher Wong, Christine Lagarde, Ryan Brandham, Naoki Tamura, Sterling, BoE Organizations: Federal Reserve, Financial Times, Wall, Traders, European Central Bank, Fed, Bank of England, Bank of Japan, Validus Risk Locations: North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPIIE's Kirkegaard: ECB will have to 'step on the pedal' when it comes to rate cuts in 2025Jacob Kirkegaard with PIIE does not expect the European Central Bank to move on rates in October after its 25 basis point interest rate cut in September.
Persons: Jacob Kirkegaard Organizations: ECB, European Central Bank
UK leads resurgence in European office investment
  + stars: | 2024-09-13 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +5 min
Sopa Images | Lightrocket | Getty ImagesLONDON — The U.K. is leading a recovery in Europe's long subdued office real estate market, with overall investment in the sector expected to pick up further in the second half of the year. Overall, European office investment transactions in the first half of the year fell 21% year-on-year to 14.1 billion euros, Savills data showed — a 60% decrease on the five-year H1 average. Europe's divided recoveryThe U.K. real estate market was the first in Europe to undergo a significant contraction following its peak in 2022. "London is leading the way a bit, partly because it repriced earlier and quicker and more significantly," Kim Politzer, head of research for European real estate at Fidelity International, told CNBC over the phone. Kim Politzer head of research for European real estate at Fidelity International
Persons: Mike Barnes, Savills, Kim Politzer, Marcus Meijer, Mark, CNBC's, James Burke, Tom Leahy, Leahy, Europe's, JLL Organizations: Getty, Britain, CNBC, Bank of, Fidelity International, European Central Bank, Nurphoto, U.S Locations: London, Europe, Paris, Stockholm, Berlin, Hamburg, La Défense, France, Ireland, Netherlands, Spain, Italy, Portugal, Southern Europe, Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB to cut 'even more aggressively' in 2025 if the economy weakens, ING Bank saysCarsten Brzeski, global head of macro research at ING Bank, discusses European Central Bank's interest rate cut, saying it was a "very dovish" one.
Persons: Carsten Brzeski Organizations: ECB, ING Bank
ECB's Lagarde: Decision to cut was unanimous
  + stars: | 2024-09-12 | 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 Lagarde: Decision to cut was unanimousCNBC's Annette Weisbach speaks to European Central Bank President Christine Lagarde after the Bank decided to cut interest rates.
Persons: Annette Weisbach, Christine Lagarde Organizations: European Central Bank, Bank
European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on July 18, 2024. LONDON — European stocks are expected to rally at the open Thursday as investors in the region await the latest monetary policy decision from the European Central Bank. The U.K.'s FTSE index is seen opening 76 points higher at 8,267, Germany's DAX up 159 points at 18,482, France's CAC 40 up 64 points at 7,460 and Italy's FTSE MIB up 257 at 33,472, according to data from IG. The European Central Bank (ECB) is expected to slash rates again by 25 basis points on Thursday, a move that would mark the first cut since June, when it described the potential for a September reduction as "wide open." The ECB's key interest rate — which helps to price all sorts of loans and mortgages across the bloc — is currently at 3.75% after years of aggressive hikes.
Persons: Christine Lagarde, Germany's DAX Organizations: European Central Bank, LONDON, The, CAC, IG Locations: Frankfurt, Germany
The European Central Bank on Thursday delivered a quarter-point interest rate cut, marking its second reduction to the deposit rate this year. The widely anticipated move comes after a period of sluggish economic growth across the euro zone and cooling inflation, which fell back toward the central bank's 2% target in August. The ECB lowered its 2024 growth forecast to 0.8%, down slightly from an earlier projection of 0.9%, citing "weaker contribution from domestic demand over the next few quarters." For many market participants, the big question was not whether the ECB would cut rates in September — but whether the central bank will provide any clues as to what will follow. The ECB's meeting comes just days before the Federal Reserve appears poised to start its own rate-cutting cycle.
Organizations: European Central Bank, ECB, Federal
Dollar firm as inflation data douse bets for big Fed rate cut
  + stars: | 2024-09-12 | by ( ) www.cnbc.com   time to read: +3 min
The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. Meanwhile, a quarter-point rate reduction from the European Central Bank is widely expected later on Thursday, with investors anxious for hints on how soon the monetary authority will cut again. Early on Wednesday, Bank of Japan board member Junko Nakagawa reinforced the central bank's tightening bias by saying low real rates leave room for further rate hikes. As a result, traders essentially priced out the chances of a 50-basis point rate cut on Sept. 18, paring the odds to 15% versus 85% probability for a 25-bp reduction.
Persons: Junko Nakagawa, Naoki Tamura, Tony Sycamore Organizations: Federal, European Central Bank, Bank of Japan, IG, ECB, Sterling, Swiss Locations: U.S
London CNN —The European Central Bank (ECB) cut interest rates Thursday, lowering borrowing costs for the second time in recent months as inflation slows and Europe’s economy stumbles. The ECB cut rates for the first time in five years in June, but kept them unchanged at its last meeting in July. However, it marginally downgraded the outlook for economic growth in the eurozone to 0.8%, from 0.9% projected in June. “Financing conditions remain restrictive, and economic activity is still subdued, reflecting weak private consumption and investment,” the ECB said. Earlier this week, former ECB chief Mario Draghi said in a report that slowing economic growth and productivity present an “existential challenge” to Europe.
Persons: Bert Colijn, Christine Lagarde’s, Mario Draghi, Draghi Organizations: London CNN, European Central Bank, ECB, Olympic, Paralympic Games, P Global, Hamburg Commercial Bank, , ING Locations: Germany, Paris, Europe, United States, China, EU
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