The European Central Bank Governing Council said on Thursday that in the current conditions of high uncertainty it will maintain gradualism and flexibility as the guidelines for its monetary policy anticipating that the assets purchase program will be concluded by the third quarter.
By Jean Pisani-Ferry (*) – Twenty years ago, on January 1, 2002, citizens of 12 European countries began using new euro banknotes and coins. A larger-than-life project – emblematic of a time when European leaders were bold enough to step into the unknown – thus became a tangible reality.
The European Central Bank confirmed its expansive monetary policy this week, in accordance with its recently reviewed inflation target and in a context of growing Covid 19 contagions that threaten recovery.
Denmark and Switzerland have long shared the world record in negative interest rates, at minus 0.75%. But that may be about to change. Economists at some of the biggest Nordic banks say Denmark, which pegs the krone to the euro, is likely to raise its key rate in the coming months.
French President Emmanuel Macron and German Chancellor Angela Merkel on Monday lauded Mario Draghi for defending the European dream in the face of opposition as he handed over a divided ECB to Christine Lagarde.
Former IMF chief Christine Lagarde said President Donald Trump's trade offensive against China could slash global economic growth and she critiqued his Twitter habits in an interview with US television program 60 Minutes.
The International Monetary Fund on Wednesday formally selected Kristalina Georgieva of Bulgaria to be only the second woman ever to lead the 189-member institution. The selection had been all but guaranteed after the global crisis lender said earlier this month that Georgieva, a former World Bank CEO, was the sole candidate.
European Union leaders have agreed on Tuesday on who should fill the top jobs for its main institutions for the next five years after a marathon summit marred by disagreement.
Italy's economy tipped into recession at the end of last year, according to latest figures. In the final three months of 2018, the economy shrank by 0.2%, following a 0.1% decline in the third quarter, the Istat statistics office said. Italian Prime Minister Giuseppe Conte said the contraction was likely to continue into 2019.
The pound has sunk in volatile trading after reports that a Brexit deal was near were downplayed by UK officials. Downing Street said “substantial issues” still need to be resolved as negotiators try to secure an agreement over the UK's exit from the EU.