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European Central Bank

ECB hawks lay off taper talk at short, calm meeting
Business & Finance

ECB hawks lay off taper talk at short, calm meeting

  • The ECB decided to continue running its Pandemic Emergency Purchase Programme (PEPP) at its current clip this quarter to keep borrowing costs stable for governments, companies and households.
  • While that decision was expected, analysts were awaiting hints about the pace of PEPP after June, after governors including the Netherlands' Klaas Knot raised the prospect of dialling it down.
Updated 22 Apr, 2021 07:57pm
Gold prices up in Asia
Markets

Gold prices up in Asia

SINGAPORE: Gold prices rose in Asian trade on Wednesday, hovering near a seven-week high hit earlier this week, as a...
Published 22 Apr, 2021 03:55am
Italian banks boost corporate lending and domestic bond holdings
Business & Finance

Italian banks boost corporate lending and domestic bond holdings

  • Loans to non-financial companies rose by 7.6% year-on-year, accelerating from a 7.3% rise in January, the monthly Bank of Italy report on domestic banks' balance sheets showed.
  • The growth in corporate lending is reversing a trend of sharp contraction over the last decade, driven by guarantees that Rome is providing to support the economy in the face of the COVID-19 epidemic.
Published 12 Apr, 2021 07:17pm
German Bund yields at highest in almost two weeks, dragged up by Treasuries
Markets

German Bund yields at highest in almost two weeks, dragged up by Treasuries

  • A rally in European shares to near record highs and signs of a pick-up in inflation in big euro zone economies also weighed on euro area bonds, pushing 10-year yields up 4 to 5 basis points across the board.
  • In turn, Germany's 10-year bond yield rose over 5 bps to -0.26%, its highest level in almost two weeks. This left the gap with its US peers at just over 200 bps and near the widest levels in over a year.
Published 30 Mar, 2021 09:15pm
ECB must remain euro zone's stabiliser
Business & Finance

ECB must remain euro zone's stabiliser

  • There is a clear risk of self-fulfilling adverse dynamics taking hold, through which uncertain economic prospects induce households, firms and governments to hold back on expenditure plans, leading to a decline in overall demand that validates the loss in confidence about the future.
  • Hoping to prop up the economy until it is ready to reopen, the ECB has pushed borrowing costs to record lows through copious asset purchases and loans to banks at rates as low as minus 1%.
Published 27 Mar, 2021 06:27pm
ECB's Lagarde warns of uncertainty about speed of vaccination
World

ECB's Lagarde warns of uncertainty about speed of vaccination

  • "The near-term economic outlook is subject to uncertainty, relating in particular to the dynamics of the pandemic and the speed of vaccination campaigns," Lagarde said in a blog post on the ECB's website.
  • We therefore stand ready to adjust all of our instruments, as appropriate, to ensure that inflation moves towards our aim in a sustained manner, in line with our commitment to symmetry.
Published 22 Mar, 2021 09:22pm
ECB to look through temporary inflation rise, Elderson says
Business & Finance

ECB to look through temporary inflation rise, Elderson says

  • "Inflation increased sharply in January and February, and is likely to go up further in the coming months," Elderson said in a Twitter Q&A.
  • "This is mainly due to transitory factors, which we look through. Underlying inflation remains subdued owing to weak demand and economic slack," he added.
Updated 16 Mar, 2021 09:06pm