GBP News Regulators 

ECB shouldn’t change policy now amid trade war and Brexit concerns, bank CEO says

“The European Central Bank should wait before announcing any new policy changes given that there are so many geopolitical uncertainties in the world, the CEO of the Dutch lender ING told CNBC Wednesday” writes Alex Kraus for cnbc.com. The central bank is due to meet Thursday in Frankfurt after announcing in December the end of its massive bond-buying program. “They should just continue on (the) current path of keeping the policy where it is, just see how things pan out,” Ralph Hamers told CNBC in Davos. Source: cnbc.com

Read More
News Regulators 

Data Dependent? Five Questions for the ECB

“When does the ECB expect inflation to move higher?” writes Min Read for reuters.com. In December, the ECB tweaked its statement to reflect increased economic worries but kept a reference to balanced risks.Euro zone money market pricing suggests investors do not expect the ECB to lift rates until well into 2020.Has the weak data encouraged the ECB to start discussing new multi-year loans to banks?. A string of disappointing data, notably from powerhouse economy Germany, suggests a slowing of growth momentum is perhaps deeper than anticipated. Source: reuters.com

Read More
Crypto News Regulators 

European Central Bank Policy Maker Calls Crypto ‘a Fairy-Tale Story’

“As previously reported, the ECB policy maker supported criticism from the President of the European Central Bank, Mario Draghi, of the establishment of an Estonian national cryptocurrency, Estcoin” writes Ana Alexandre for cointelegraph.com. A member of the Governing Council of the European Central Bank (ECB) has warned that “the [cryptocurrency] bubble has already started to collapse,” Bloomberg reported Jan. 7.The central bank governor also emphasized concerns around financial stability, given the increase in links between digital assets and the traditional regulated financial sector. Dombrovskis said at the time that crypto…

Read More
Markets News Regulators 

The euro is set to celebrate its 20th birthday — here’s a look back at its tumultuous history

“In the aftermath of the global financial crisis of 2008 and 2009, Europe faced a sovereign debt crisis” writes Markets Reporter for marketwatch.com. Still, market participants worry about potential market turmoil as the ECB ends its bond-buying program.No euro notes or coins were yet in circulation, but exchange rates of the participating countries were locked against each other.The euro will celebrate its 20th anniversary on New Year’s Day, marking the end of a second decade that saw the shared currency survive a devastating sovereign-debt crisis and European political turmoil.Eurozone bond…

Read More
News Regulators 

Carige’s top investor reportedly meets the ECB after blocked cash call

“Italy’s Malacalza family holds 27.6 percent of Carige after investing more than 400 million euros to prop up the ailing Genoa-based bank” writes Alessia Pierdomenico for cnbc.com. Their stake is worth less than 25 million euros at current market prices.On Saturday the Malacalzas prevented the latest cash call from being approved saying they first wanted more clarity on the bank’s future business plan and possible merger options as well as any further requests from the regulator.The source said the Malacalzas had flown to Frankfurt and met for more than an…

Read More
News Regulators 

German inflation slows just as ECB dials back stimulus

“In Baden-Wuerttemberg, the third most populous state, annual inflation slowed to 2.0 percent from 2.7 percent” writes unknown author for cnbc.com. In Bavaria, the second-most populous state, annual inflation was measured at 2.2 percent after 2.7 percent in the previous month.The ECB’s goal is to keep inflation in the euro zone close to, but just below, 2 percent a year.The euro zone will publish preliminary inflation data for December on Jan. 4.The annual inflation rate in Germany’s most populous state, North Rhine-Westphalia, slowed to 1.8 percent in December from 2.4…

Read More
News Regulators 

Opinion: ECB readies to fight worsening economic slump

“The central bank will have ended at the end of December its purchases of government and corporate bonds” writes Pierre Brian On for marketwatch.com. And politically, “the central bank must be careful not to appear to make things too easy for Rome,” said Moëc.Squeezed by the showdown between Rome and the European Commission over the country’s 2019 budget, Italian banks have taken the hit of rising yields.First, Draghi has insisted that monetary policy will remain loose by pre-crisis standards: Interest rates, notably, will remain negative for another few months.The ECB,…

Read More
News Regulators 

ECB’s Makuch says central bank may need to rephrase guidance if slowdown continues

“Looking at the Citi economic surprise index for the Eurozone, it is slumping again recently as economic data releases continue to disappoint relative to market expectations (which aren’t exactly high to begin with for the Eurozone)” reports forexlive.com. What it basically says is that Eurozone data disappointed heavily in Q1 to Q2 but held up in Q3 before disappointing expectations again in Q4: I don’t believe we’ve actually heard such exact words from any ECB speakers on the matter but this basically confirms that they may be looking into that…

Read More
GBP Markets News Oil Regulators 

Asian shares wobbly, euro steady after ECB ends QE

“MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3 percent while Japan’s Nikkei dropped 0.4 percent” writes Midwest Communications Inc for 95kqds.com. The ECB ended its 2.6 trillion euro crisis-fighting bond purchase scheme but pledged to continue reinvesting maturing bonds – thereby avoiding shrinking its balance sheet – for an extended period of time.”If U.S. shares fall below their triple bottoms hit recently, that would be a very weak technical sign,” said Nobuhiko Kuramochi, chief strategist at Mizuho Securities.The euro changed hands at $1.1362, stuck in its well-worn $1.13-$1.14…

Read More