Christine Lagarde makes a poor central banker, ECB staff say
FRANKFURT — On the global stage, European Central Bank President Christine Lagarde still exudes the air of an international rockstar of finance, but back home her records just won’t sell. Most...
View ArticleEurozone inflation dips in January as investors eye early rate cut
FRANKFURT — Eurozone inflation eased as expected in January, fueling hopes for an early European Central Bank interest rate cut. Inflation eased to 2.8 percent from 2.9 percent in December, when it...
View ArticleUK inflation lower than expected
Consumer prices in the United Kingdom stood at 4 percent in January, unchanged from December and defying expectations of a renewed pick-up, data released by the Office for National Statistics showed...
View ArticleECB tells staff: If you’re not green, you’re not wanted
FRANKFURT ― A top European Central Bank official stunned employees by saying people who don’t buy into the institution’s green objectives aren’t welcome to work there. Frank Elderson, one of six...
View ArticleECB slides to €1.3B net loss in 2023
FRANKFURT — The European Central Bank (ECB) made a net loss of €1.3 billion last year, as a soaring interest bill on all the excess liquidity in the financial system dwarfed the revenue from its...
View ArticleTop ECB official: Don’t expect serious rate-cut debate before June
VIENNA – The European Central Bank is unlikely to discuss cutting interest rates seriously before June, Governing Council member Robert Holzmann said in an interview with POLITICO on Wednesday.And...
View ArticleECB keeps rates unchanged but cuts inflation, growth forecasts
FRANKFURT — The European Central Bank inched toward a first interest rate cut around the middle of the year, leaving its official interest rates unchanged but cutting its headline forecasts for both...
View ArticleUS presses Austria’s Raiffeisen to quit Russia
Washington is tightening the screws on the last remaining banks in Europe still doing business with Russia. The Treasury’s top sanctions enforcement official, Acting Assistant Secretary Anna Morris,...
View ArticleECB signals historic break from QE era with new operating framework
The European Central Bank outlined major changes to the way it works on Wednesday, aiming to scale down its presence in financial markets after 15 years of emergency measures. During the financial...
View ArticleSwitzerland declares victory over inflation
The Swiss National Bank became the first central bank among advanced economies to declare victory over the post-pandemic surge in inflation, cutting its key interest rate by 0.25 percentage point to...
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Staff accuse ECB of gaming survey to limit negative feedback
FRANKFURT — The European Central Bank’s latest staff survey is set to paint a much rosier picture of life at headquarters than last year’s — not because things have gotten so much better, but because...
View ArticleA (not so) brief ‘criminal’ history of the ECB
FRANKFURT — Malta’s central bank chief Edward Scicluna will be formally charged with fraud and misappropriation in court this week, joining an illustrious group of European Central Bank policymakers...
View ArticleECB to deliver historic rate cut on Thursday
FRANKFURT — The European Central Bank is set to cut interest rates for the first time in five years on Thursday, offering some welcome relief for the region’s economy — and for its president,...
View ArticleECB cuts interest rates for first time since 2019
FRANKFURT – The European Central Bank cut official interest rates for the first time since 2019 on Thursday, reflecting the progress made in bringing inflation down from a peak of over 10 percent....
View ArticleSwitzerland cuts key interest rate again as EU turmoil sends franc surging
The Swiss National Bank cut its key interest rate again, taking the edge off a franc that has been surging in response to European political uncertainty. A second successive cut of 0.25 percentage...
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Survey reveals surge in burnout and suicidal thoughts among ECB staff
FRANKFURT — The number of European Central Bank staff suffering burnout symptoms has risen sharply since 2021, with the proportion of employees harboring suicidal thoughts up by 50 percent over four...
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ECB to leave rates on hold in hope for quiet summer
The European Central Bank (ECB) is expected to keep interest rates on hold on Thursday, but an improving inflation outlook, both at home and abroad, means the door for further cuts later in the year...
View ArticleECB leaves rates unchanged, keeps door open to September cut
The European Central Bank (ECB) left its key deposit rate unchanged at 3.75 percent, as expected but indicated that a second interest rate cut is quite possible at its next meeting in September. ECB...
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Lagarde to skip G20 to feel the Olympic buzz in Paris
Who can resist the unique buzz of the world’s grandest athletic spectacle and the glamor of its opening night? Not Christine Lagarde, by the looks of it. The European Central Bank President is set to...
View ArticleEurozone economy grows faster than expected in Q2
Steady economic growth and a surprising rise in German inflation are putting the European Central Bank in a bind for when it next meets, in September. The eurozone economy grew slightly more than...
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