The European Central Bank has pledged to accelerate work on a “new anti-fragmentation instrument” to tackle surging borrowing costs in weaker eurozone economies after an emergency meeting of its rate-setters on Wednesday.
Negative interest rates will soon be a thing of the past in the eurozone, the European Central Bank’s (ECB) chief signalled Monday, with the bank poised to raise rates for the first time in over a decade to tamp down soaring inflation.
Global share markets have dropped as inflation in the United States hits almost 8%, likely cementing the case for an interest rate hike by the U.S. Federal Reserve, and the European Central Bank sped up its exit from its massive stimulus program.
The European Central Bank (ECB) will keep a flexible approach as it unwinds its ultra-expansionary monetary policy, monitoring not only inflation threats but also risks of uneven financing conditions across euro zone countries, a top policymaker said.
European Central Bank President Christine Lagarde said on Monday she would not "venture" into speculation over interest rate rises in 2023 amid pressure for the bank to define its response to high inflation.
For some time, central-bank watchers have expected the ECB’s October meeting to be relatively unexciting, but the current mix of slowing growth and higher inflation could render it more eventful than originally anticipated.
Armin Laschet, the conservative candidate bidding to succeed German Chancellor Angela Merkel in this month’s election, said he was confident the European Central Bank (ECB) would achieve price stability, as accelerating inflation hits savers.
The greatest challenge facing Europe’s rebounding economy is whether authorities can implement the changes needed to transform its potential, according to European Central Bank (ECB) President Christine Lagarde.
European Central Bank policymaker Francois Villeroy de Galhau has rejected suggestions that the institution should consider writing off the public debt it bought during the pandemic, saying to do so would backfire.