ecb
Economic growth in the eurozone exceeded economists' expectations in the first quarter of the year, while the annual inflation rate for April demonstrated stable performance compared to the previous month. This halted the downward trend that began in January, but it also provided some encouraging signs for an anticipated European Central Bank (ECB) rate cut in June. According to flash estimates from Eurostat released on Tuesday, the annualised gross domestic product growth in the eurozone was 0.3% in the first quarter of 2024 compared to the final quarter of 2023. This marks a significant impr...
Euronews (English)
An increasing number of low-income Europeans are expecting to be late paying key bills over the coming months because of a rise in interest rates, rents and utilities costs, according to research by the European Central Bank (ECB). "The ability of households to meet their housing-related costs and mortgage payments is a source of concern, especially for lower-income households," the researchers wrote in an ECB economic bulletin article providing a snapshot of the "household housing burden" in the largest 11 eurozone economies. Since the ECB started to raise interest rate in July 2022, overall ...
Euronews (English)
A promise made by tech giant Apple to open up its iPhone payments service - after a preliminary finding by the European Commission that its behaviour was restrictive - don’t go far enough, the European Central Bank has said, in remarks that represent an unusual foray into antitrust policy. In January, the tech giant proposed to let alternative providers access the near-field communication (NFC) chip that lets users buy goods with just a tap of their iPhone. But they exclude ecommerce, transactions among friends, and wearables like the Apple Watch, said the ECB – which is currently developing i...
Euronews (English)
Less than a week after Iranian aerial attacks on Israel, the latter retaliated by striking some military targets in Iran overnight. The attack was described as 'limited,' with no significant damage or casualties reported. However, this development surprised the markets, especially following extensive diplomatic efforts by the United States and its European allies to prevent further tensions in the Middle East. Following the news, oil prices and gold saw an increase, whereas European stock markets dipped this Friday. This turn of events has prompted investors to ponder if this recent flare-up b...
Euronews (English)
Discussing the state of the European economy and geopolitical challenges, she emphasised the need for about €600 billion annually to support climate change mitigation efforts, underlining the critical role of private financial support for these initiatives. Lagarde also provided insight into the current state of the European economy, the ongoing efforts in US-EU economic cooperation, and the broader implications of geopolitical challenges. IMF sees eurozone growth rebounding and ECB cutting rates by the fourth quarterEurozone inflation eases: Trends across the continent and ECB rate expectatio...
Euronews (English)
Washington (AFP) - European Central Bank president Christine Lagarde suggested Tuesday that the regulator could lower interest rates before a similar move by the US Federal Reserve, saying "we are not Fed-dependent." Speaking in Washington on the sidelines of spring meetings at the International Monetary Fund, Lagarde said Europe was seeing a "disinflationary process" -- with observers betting on the first rate cut to take place in June. "If we don't have a major shock in development, we are heading toward a moment where we have to moderate the restrictive monetary policy," Lagarde said, witho...
AFP
The euro's path to parity now hinges on European Central Bank (ECB) actions and US Federal Reserve signals, promising a volatile summer. Lagarde sets the stage for a June rate cut: What hurdles remain for the ECB?As the European Central Bank (ECB) signals potential interest rate cuts starting as early as June, contrasting with the expected delay in monetary easing by the US Federal Reserve due to persistent high inflation, significant questions arise regarding the euro's trajectory against the dollar. The euro has faced significant downward pressure this week, falling below 1.07 against the do...
Euronews (English)
Germany’s year-on-year inflation for March 2024 was released on Friday morning, clocking in at 2.2%, according to the Federal Statistical Office. This was a step down from February’s 2.5%, while also being the lowest figure since May 2021. This was mainly due to food inflation seeing the first decline since February 2015, sliding to -0.7% in March, from 0.9% in the previous month. Similarly, energy prices also fell at a faster rate, to -2.7% from -2.4% in February. Goods inflation also reduced to 1.0% in March, down from 1.8% in the previous month. However, services’ prices increased from 3.4%...
Euronews (English)
The European stock markets are heading for a negative close for the second consecutive week, as global government bond yields surged further after the US reported hotter-than-expected inflation data. The EU 10-year government bonds yield rose to a one-month high of 2.46%, and its US counterpart, the US 10-year Treasury yield hit 4.58%, the highest since November 2023. The yield on a government bond represents the interest rate at which the government borrows funds, typically reflecting market expectations regarding the central bank's rate trajectory. Consequently, elevated yields often exert d...
Euronews (English)
Recent figures have bolstered market expectations for rate reductions starting in June, with the economist consensus pointing to an imminent easing cycle. "We will know a little more in April, but we will know a lot more in June," Christine Lagarde, President of the European Central Bank (ECB), left us hanging in March, not giving much room for speculation on imminent interest rate cuts in the eurozone. This week, the ECB convenes again on Thursday. No change in interest rates is anticipated, yet Lagarde will be called upon to clarify what "little more" we have actually learned about inflation...
Euronews (English)
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