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☆ 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 markets poised to rally at the open, ahead of anticipated ECB rate cut
▼ + stars: | 2024-09-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

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

☆ 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

☆ ECB likely to reduce rates this month — but no further cuts expected in 2024, economist says
▼ + stars: | 2024-09-11 | 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 likely to reduce rates this month — but no further cuts expected in 2024, economist saysCyrus de la Rubia, chief economist at Hamburg Commercial Bank, discusses the outlook for Germany’s economy and looks ahead to the European Central Bank’s forthcoming meeting.

Persons: Cyrus de la Rubia Organizations: ECB, Hamburg Commercial Bank, Central Locations: Hamburg

☆ European Central Bank set to cut interest rates just days before the Fed's big decision
▼ + stars: | 2024-09-11 | by ( Annette Weisbach | ) www.cnbc.com time to read: +3 min

Christine Lagarde, president of the European Central Bank, at the ECB And Its Watchers conference in Frankfurt, Germany, on March 20, 2024. Traders are widely anticipating an interest rate cut at the Federal Reserve's Sept. 17-18 meeting, as well as at the ECB's meeting this week. "The rate cut this Thursday should be largely uncontroversial," Holger Schmieding, the chief economist at Berenberg Bank, told CNBC in an email to clients. In July, the ECB left interest rates unchanged in a unanimous vote following June's landmark cut. 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, Holger Schmieding, Joachim Nagel, Anatoli Annenkov, what's Organizations: European Central Bank, ECB, Bloomberg, Getty, FRANKFURT, U.S . Federal Reserve, Federal, Berenberg Bank, CNBC, ECB Council, —, Bank Locations: Frankfurt, Germany, Société, Ljubljana, Slovenia

☆ Euro zone inflation falls to 3-year low of 2.2%, backing September rate cut case
▼ + stars: | 2024-08-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Euro zone inflation dropped to a three-year low of 2.2% in August, flash figures from statistics agency Eurostat showed Friday, boosting expectations for a September rate cut from the European Central Bank. The core rate — excluding the more volatile components of energy, food, alcohol and tobacco — fell to 2.8% in August from 2.9% in July, also matching a Reuters poll. The euro nudged 0.04% higher against the U.S. dollar to $1.1083 as investors gear up from a September rate cut from the Federal Reserve in its first step toward monetary easing in the current cycle. It come after price rises in Germany, the euro area's biggest economy, cooled more than expected to 2% for the month, on a euro zone harmonized basis. Economists at ING expect euro zone core inflation to remain stubbornly above 2.5% for the rest of the year amid stickiness in goods and services.

Organizations: Eiffel, Paris, European Central Bank, Reuters, U.S, Federal Reserve, ING, Markets, ECB Locations: Paris, Germany

☆ Correction in the dollar-yen was overdue and may be 'healthy' for markets, former ECB chief says
▼ + stars: | 2024-08-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A carry trade involves an investor borrowing a currency with low interest rates and reinvesting it in higher-yielding assets elsewhere — taking advantage of that differential to make a financial gain. Investors piled into yen carry trades in recent years, attracted by Japan's low volatility and ultra-loose monetary policy. Global stock markets meanwhile plunged as "safe haven" assets such as the Swiss franc and U.S. Treasurys were bolstered. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads," Kit Juckes, chief foreign exchange strategist at Societe Generale, said in a Monday note. Trichet told CNBC Tuesday: "The correction can be seen as a healthy correction, in some respects.

Persons: it's, Jean, Claude Trichet, CNBC's, Treasurys, Kit Juckes, Trichet Organizations: European Central Bank, ., Bank of Japan, U.S, Global, Swiss, Societe Generale, CNBC, Federal Locations: France's, U.S, Europe, United States

☆ Safe-haven yen, Swiss franc soar as U.S. slowdown fears flare
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

Swiss Franc banknotes sit in the office of a bank in this arranged photograph in Zurich, Switzerland, on Friday, Nov. 20, 2015. The safe-haven Japanese yen and Swiss franc traded near multi-month highs against the dollar on Friday after an unexpected slump in U.S. manufacturing fuelled fears of a downturn, sending stocks and bond yields tumbling. The yen traded around 0.2% stronger at 149.085 per dollar, after popping as high as 148.51 overnight for the first time since mid-March. They were the only two major currencies to outperform the dollar overnight, which itself draws safe-haven flows, paradoxically even when the United States is the cause for concern. ECB policymaker Yannis Stournaras raised the risk of a weak euro zone economy sending inflation below the 2% target in an interview published on Thursday, reaffirming his expectation for two rate cuts this year.

Persons: Sterling, Tony Sycamore, Sycamore, BoE Governor Andrew Bailey, ECB policymaker Yannis Stournaras Organizations: Swiss, Bank of England, European Central Bank, Japan's Nikkei, IG, Federal Reserve, ECB policymaker Locations: Zurich, Switzerland, United States, Asia, U.S

☆ Euro zone inflation rises to 2.6% in July, above expectations
▼ + stars: | 2024-07-31 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Headline inflation in the euro zone unexpectedly rose to 2.6% in June, the European Union's statistics agency said Wednesday. In June, inflation had come in at 2.5%, easing slightly from the 2.6% of May. Economists polled by Reuters had been expecting the headline figure for July to be unchanged from June's reading at 2.5%. Core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, hit 2.9% in July, versus a Reuters estimate of 2.8%. The inflation rates come just a day after the release of the zone's second quarter gross domestic product, which the European Union's statistics office said grew 0.3% in the three months to the end of June.

Organizations: Reuters, ECB Locations: Germany

☆ 'Rate cut winners': Barclays names global stocks to buy when interest rates are cut
▼ + stars: | 2024-07-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Barclays has identified a list of global stocks poised to benefit as central banks in Europe and the U.K. prepare to cut interest rates. The European Central Bank and the Bank of England are expected to continue, or begin, reducing interest rates in the second half of this year, continuing into 2025. Barclays economists project that by mid-2025, the ECB's key rate could reach 2.5%, while the Bank of England's rate might settle at 4%. Barclays included the following stocks in its "rate-cut winners basket", among which are: Cellnex Telecom, Royal KPN , Hermes , Zalando , and Siemens Healthineers . While banks are often thought to suffer from lower interest rates, Barclays suggests that any loss in earnings from lower rates could be partially offset by higher lending volumes and reduced provisions for bad loans.

Persons: Royal KPN, Matthew Joyce Organizations: Barclays, European Central Bank, Bank of England, Bank of, Cellnex Telecom, Royal, Siemens Locations: Europe

☆ ECB President Christine Lagarde on sports background, lessons from swimming and journey to finance
▼ + stars: | 2024-07-29 | 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 President Christine Lagarde on sports background, lessons from swimming and journey to financeEuropean Central Bank president Christine Lagarde joins 'Squawk Box' to discuss her sports background, her history as a competitive artistic swimmer, lessons from swimming, and more.

Persons: Christine Lagarde Organizations: European Central Bank

☆ ECB President Christine Lagarde on the economic impact of the Olympics
▼ + stars: | 2024-07-29 | 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 President Christine Lagarde on the economic impact of the OlympicsEuropean Central Bank president Christine Lagarde joins 'Squawk Box' to discuss lessons from the Paris Olympics, the economic impact of the Olympic games, and more.

Persons: Christine Lagarde Organizations: Olympics European Central Bank, Paris Olympics

☆ European markets open lower as investors digest ECB decision
▼ + stars: | 2024-07-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets opened lower on Friday as investors considered the latest ECB interest rate decision. All sectors were lower, with travel and leisure stocks tumbling 2.66%, and mining stocks declining 1.93%. European markets have retreated throughout the week with the Stoxx 600 closing lower for the last four consecutive days. The picture was similar across the world, with Asia-Pacific markets declining on Friday as they followed Wall Street lower. U.S. markets closed lower on Thursday, with the Dow Jones Industrial Average snapping a six-day winning streak.

Organizations: Bank of England, LONDON, Dow Jones, European Central Bank, ECB Locations: City of London, London, United Kingdom, Asia, Pacific, U.S

☆ Dollar set to eke out weekly gain as traders weigh U.S. rates, yen wobbles
▼ + stars: | 2024-07-19 | by ( ) www.cnbc.com time to read: +3 min

The dollar was steady and poised to snap a two-week losing run on Friday as U.S. labour and manufacturing data kept traders pondering on when and by how much the Federal Reserve would cut rates this year. The dollar was steady and poised to snap a two-week losing run on Friday as U.S. labor and manufacturing data kept traders pondering on when and by how much the Federal Reserve would cut rates this year. The Federal Reserve is scheduled to meet at the end of July where markets anticipate a very low chance of the central bank cutting rates. Ryan Brandham, head of global capital markets for North America at Validus Risk Management, said the U.S. economy is getting closer to where a rate cut may be appropriate. In other currencies, the Australian dollar eased 0.11% to $0.66985, while the New Zealand dollar was 0.22% lower at $0.6032.

Persons: Ryan Brandham, Mary Daly, Daly, recouping, Sterling Organizations: Federal Reserve, Bank of Japan, Traders, U.S, Federal, North America, Validus Risk, Fed, Federal Reserve Bank of San Francisco, Dallas Fed, European Central Bank, ECB, Bank of England, New Zealand Locations: Tokyo, Japan, U.S, Britain

☆ European Central Bank set to hold rates with inflation picture muddying demand for cuts
▼ + stars: | 2024-07-18 | by ( Annette Weisbach | ) www.cnbc.com time to read: +1 min

FRANKFURT — The European Central Bank is set to keep interest rates steady this week after cutting in June for the first time since September 2019. The hold would come amid uncertainty about underlying inflation dynamics, especially stemming from the labor market, which have weighed on the central bank's resolve to embark on a rapid path of cuts. "ECB speakers, including President [Christine] Lagarde and Chief Economist [Philip] Lane, have made it quite clear that the July meeting is set to be more of a stock-taking exercise than a policy-decision meeting, also given the absence of new staff forecasts," Anatoli Annenkov of Societe Generale said in a recent research note. "With no new quarterly data available, e.g. GDP, compensation and labour productivity data, the [ECB's] Governing Council will instead have to make do with mostly survey data," he said, adding that previous data points to a bumpy recovery in the euro area — the 20 countries that share the single currency.

Persons: Christine, Lagarde, Philip, Lane, Anatoli Annenkov Organizations: FRANKFURT, European Central Bank, ECB, Societe Generale

☆ ECB holds interest rates: CNBC's Silvia Amaro reviews the decision
▼ + stars: | 2024-07-18 | 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 holds interest rates: CNBC's Silvia Amaro reviews the decisionCNBC's Silvia's Amaro reacts to the European Central Bank's latest decision to hold interest rates at 3.75%.

Persons: CNBC's Silvia Amaro, CNBC's Silvia's Amaro Organizations: ECB, Central

☆ European markets set to open higher ahead of ECB rate decision
▼ + stars: | 2024-07-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The U.K.'s FTSE 100 was last seen up 40 points at 8,231, Germany's DAX 15 points higher at 18,464 and France's CAC up 7 points at 7,590. LONDON — European markets were headed for a higher open on Thursday as investors awaited the European Central Bank's interest rate decision. Asia-Pacific markets tumbled on the news from the chip sector overnight, with Japan's Nikkei 225 declining more than 2%. Back in Europe, the European Central Bank is expected to announce its latest interest rate decision Thursday. Markets are widely expecting the central bank to leave rates unchanged, but investors are hoping for guidance on the path ahead for monetary policy.

Persons: Boris Roessler, Germany's DAX Organizations: Getty, CAC, MIB, LONDON, Tech, Japan's Nikkei, Nasdaq, European Central Bank, Novartis, Volvo, Ubisoft, Nokia Locations: Hesse, Frankfurt, U.S, Asia, Pacific, Europe

☆ European Central Bank holds interest rates, says domestic price pressures 'still high'
▼ + stars: | 2024-07-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

European Central Bank (ECB) president Christine Lagarde attends a press conference following the Governing Council's monetary policy meeting, in Frankfurt, Germany July 18, 2024. Jana Rodenbusch | ReutersThe European Central Bank left interest rates unchanged on Thursday, after implementing a cut in June. "Monetary policy is keeping financing conditions restrictive. The decision — which keeps the key interest rate at 3.75% — was widely expected amid ongoing concern over inflationary pressures, particularly from the labor market. Analysts expected the central bank to wait for more data across payrolls, economic growth and productivity before easing monetary policy further.

Persons: Christine Lagarde, Jana Rodenbusch, —, Lagarde Organizations: European Central Bank, Reuters, ECB, U.S . Locations: Frankfurt, Germany, —

☆ The Fed may soon cut interest rates. That could make your next trip abroad more expensive
▼ + stars: | 2024-07-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

SeongJoon Cho/Bloomberg via Getty ImagesThe U.S. Federal Reserve may start cutting interest rates before year's end. How interest rates impact the U.S. dollarIn reality, the dynamics driving dollar fluctuations are more complex than whether the Fed raises or lowers interest rates. The European Central Bank cut interest rates in June, for example. This is happening against the backdrop of a relatively strong U.S. economy, which also generally supports a strong dollar, Petersen said. For example, investors generally get a better return on cash when interest rates are high.

Persons: SeongJoon Cho, Jonathan Petersen, Petersen, " Petersen, that's, Richard Madigan, Benjamin Atwater, Atwater, Morgan's Madigan, Jerome Powell, Bonnie Cash Organizations: Bloomberg, Getty, . Federal, U.S ., Capital Economics, U.S, Morgan Private Bank, European Central Bank, Fed, Bank of Japan, U.S . Federal, Banking, Housing, Urban Affairs, ECB Locations: Japan, Asia, Denver, Europe, U.S

☆ What to expect from the June jobs report
▼ + stars: | 2024-07-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

That said, the job market of today is far different than it was 30 months ago. “The labor market has normalized,” Luke Tilley, Wilmington Trust’s chief economist, told CNN in an interview. As such, Friday’s report could provide a crucial signal as to whether the jobs market is at a stable or even pre-pandemic state — or is perhaps weaker than advertised. The continued upswing in claims has Tilley closely watching an underlying datapoint of the monthly jobs report: Unemployed persons by reason for unemployment. The overall labor force participation rate dipped in May to 62.5% from 62.7%, reversing progress made earlier this year.

Persons: don’t, ” Luke Tilley, ”, Nela Richardson, ” Dean Baker, aren’t, Tilley, ” Tilley, That’s, Julia Pollak, ” Pollak, Rachel Sederberg, Joe Biden, Donald Trump, Biden, Jerome Powell, Powell, “, can’t, Lightcast’s Organizations: CNN, Bureau of Labor Statistics, Center for Economic, Policy Research, of Labor, Challenger, ZipRecruiter, ”, CNN Business, Workers, Federal Reserve, Labor Locations: Wilmington, “, Portugal

☆ Stocks, property, bonds, the pound: Here’s what a new Labour government means for investing in the UK
▼ + stars: | 2024-07-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +7 min

The Labour party's pledge, for example, to increase taxes on the compensation that private equity fund managers received raised a few eyebrows, and led to questions on what this could mean more broadly. In a note Friday, analysts at Jefferies said, despite concerns raised by a strong showing for the right-wing Reform UK Party, the Labour Party's U.K. election win would help make the U.K. appear "relatively stable." "A widely predicted Labour win in the UK could usher in an era of greater stability for the UK … which should help bolster investor sentiment towards the UK," she said. "U.K. bank stocks in the end are one of the biggest proxies for U.K. economic growth," he said. If results are as expected, attention will shift away from the U.K. election quickly, Shreyas Gopal, strategist, and Sanjay Raja, senior economist at Deutsche Bank, said in a note published Wednesday.

Persons: Vuk Valcic, hasn't, Jefferies, James McManus, Susannah Streeter, Hargreaves Lansdown, McManus, Liz Truss, Streeter, Richard Donnell, Nutmeg's McManus, CNBC's Silvia Amaro Friday, Mark Fielding, Fielding, Shreyas Gopal, Sanjay Raja, BoE, Francesco Pesole, Pesole Organizations: City of, Labour Party, Conservatives, U.S ., Labour, CNBC, Stock, Reform UK Party, Hargreaves, Deutsche Bank, ING, Bank of England, ECB Locations: Bishopsgate, City, City of London, London, France

☆ 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

☆ Watch CNBC's full interview with ECB's Simkus
▼ + 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 EmailWatch CNBC's full interview with ECB's SimkusGediminas Šimkus, ECB Governing Council member and governor of the Bank of Lithuania, discusses the prospect of further ECB rate cuts.

Persons: ECB's Simkus Gediminas Šimkus Organizations: Bank of Lithuania

☆ Euro zone inflation eases to 2.5% as core print misses estimate
▼ + stars: | 2024-07-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

watch nowHeadline inflation in the euro area dipped to 2.5% in June, the European Union's statistics agency said Tuesday, while the closely watched core and services prints held steady. Core inflation, excluding the volatile effects of energy, food, alcohol and tobacco, stayed at 2.9% from the prior month, narrowly missing the 2.8% economists had forecast. Investors will now parse what the latest data means for the trajectory of interest rates in the 20-nation euro zone, following the European Central Bank's initial 25 basis point cut in June. Volatility in the consumer price index has long been expected this year, as choppy base effects from the energy market unwind. In June, year-on-year energy inflation in the euro zone was 0.2%, a sharp switch from earlier in the year when the sector had a strong disinflationary pull.

Persons: Luis de Guindos, CNBC's Annette Weisbach Organizations: Reuters, Inflation, Investors, Central, Tuesday, ECB, Central Banking Locations: Sintra , Portugal

☆ Stock futures are little changed after S&P 500 rises to kick off back half of 2024: Live updates
▼ + stars: | 2024-07-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures are little changed Monday night after the major averages closed higher to start the second half of 2024, as tech stocks outperformed. Dow Jones Industrial Average futures fell 26 points, or 0.07%. S&P 500 futures and Nasdaq 100 futures dipped 0.06% and 0.1%, respectively. The central bank leader will be part of a panel discussion and will not be issuing prepared remarks beforehand. He will join ECB President Christine Lagarde and Roberto Campos Neto, governor of Brazil's central bank.

Persons: Kevin Gordon, Charles Schwab, Gordon, Jerome Powell, Christine Lagarde, Roberto Campos Neto, Sara Eisen, Dow Jones Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow Jones, European Central Bank Forum, ECB Locations: Brazil's

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