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Apr 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

European Central Bank

Rising euro zone rates a drag on growth, inflation, says ECB's De Cos
Business & Finance

Rising euro zone rates a drag on growth, inflation, says ECB's De Cos

  • "These developments underline the importance of avoiding premature increases in nominal interest rates," de Cos added.
  • The ECB will next meet on March 11 and while an outright increase in the 1.85 trillion-euro Pandemic Emergency Bond Purchase quota is not likely, the ECB could say it will increase the flow of purchases to cap yields.
Published 03 Mar, 2021 06:29pm
ECB must not hesitate to raise bond buys to rein in yields: Panetta
Business & Finance

ECB must not hesitate to raise bond buys to rein in yields: Panetta

  • "We should not hesitate to increase the volume of purchases and to spend the entire PEPP envelope or more if needed," Panetta said in a speech.
  • Just under 1 trillion euros ($1.20 trillion) of the ECB's PEPP quota is still unused and until the recent yield rise, policymakers argued that the ECB did not necessarily have to spend this amount.
Published 02 Mar, 2021 08:19pm
Germany's profit from public debt may reach 600 million euros by 2029: document
Markets

Germany's profit from public debt may reach 600 million euros by 2029: document

  • The calculations are likely to fuel a debate in Germany about when Berlin should end massive deficit-spending triggered by the COVID-19 pandemic, and return to the fiscal rules of a debt brake that parliament suspended for 2020 and 2021.
  • Deputy Finance Minister Bettina Hagedorn said the calculations were only estimates and fraught with uncertainty due to the long time period.
Published 24 Feb, 2021 07:56pm
European government bond yields ignore Lagarde's verbal intervention; focus on Fed
Markets

European government bond yields ignore Lagarde's verbal intervention; focus on Fed

  • ECB President Christine Lagarde said on Monday the central bank was "closely monitoring" rising borrowing costs - a comment that knocked Germany's 10-year Bund yield off its eight-month high.
  • The ECB's strategy "is not to burn too much cash trying to lean against the wind - rather to intervene verbally", he said, citing lower levels of ECB bond-buying last week.
Published 23 Feb, 2021 09:11pm
Top banks asked to justify why they still clear euro swaps in London
Business & Finance

Top banks asked to justify why they still clear euro swaps in London

  • Clearers in Britain have EU permission to continue clearing for EU customers until mid-2022 to give banks time to shift their euro positions to the continent, but switching has been slow.
  • "The objective of this discussion is to ensure that the Commission is aware of all possible impediments, obstacles and opportunities," the document prepared for the meeting said.
Published 23 Feb, 2021 07:14pm
ECB getting uncomfortable with rise in yields
Business & Finance

ECB getting uncomfortable with rise in yields

  • Risk-free overnight indexed swap rates and sovereign yields are particularly important, because they are good early indicators of what happens at downstream stages of monetary policy transmission.
  • "Accordingly, the ECB is closely monitoring the evolution of longer-term nominal bond yields," she said.
Published 22 Feb, 2021 09:30pm
ECB plans closer scrutiny of bank boards
Business & Finance

ECB plans closer scrutiny of bank boards

  • The ECB already examines the suitability of board candidates in a so-called fit and proper assessment, but rules across the 19 euro zone members vary, so the quality of these checks can be inconsistent.
  • Supervisors will consider furthermore all of the diversity-related aspects that are most relevant to enhancing the individual and collective leadership of boards.
Published 19 Feb, 2021 07:55pm
ECB worried about euro but relaxed on yields: account
Business & Finance

ECB worried about euro but relaxed on yields: account

  • Concerns were voiced ... over developments in the exchange rate that might have negative implications for euro area financial conditions and, ultimately, consequences for the inflation outlook.
  • It was maintained that not every increase in nominal yields should be interpreted as an unwarranted tightening of financing conditions and trigger a corresponding policy response.
Published 18 Feb, 2021 08:47pm
Draghi sets out plan to rebuild virus-hit Italy
World

Draghi sets out plan to rebuild virus-hit Italy

  • In a second speech on Wednesday evening, he also pleaded for a revival of a failed policy: forcing EU countries to each take a share of the migrants arriving from across the Mediterranean, after years of Italy shouldering much of the burden.
Published 18 Feb, 2021 10:23am
Italy sees record demand in first bond sale under Draghi
Markets

Italy sees record demand in first bond sale under Draghi

  • Italy's 10-year bond yields fell to a record-low last week after head of state Sergio Mattarella asked Draghi to form a new government.
  • The Treasury set the yield on a new 10-year BTP bond at 4 basis points above the rate of an existing April 2031 BTP note, halving the initial indication of an 8 basis point spread.
Published 16 Feb, 2021 07:18pm
Going digital will boost rouble's global role, Russia says
Markets

Going digital will boost rouble's global role, Russia says

  • Russia's central bank first floated the idea of the digital rouble last October, saying it could be issued on top of existing cash and non-cash roubles to facilitate payments.
  • China's example shows that they want to use their digital currency as a tool for international settlements.
Published 11 Feb, 2021 08:36pm