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ECB Tightens Grip With 12th Consecutive Rate Hike; Lagarde Asserts ‘No Cuts’ Amid Lingering Inflation Concerns

[Jul 27, 2023 12:30 PM] The European Central Bank (ECB) has raised the benchmark bank rates by 25 basis points (bps) citing that inflation was down but still remained “too high for too long.” When ECB president Christine Lagarde was pressed about cutting rates by…

Eurozone Inflation to Remain Higher Than 2% Target in Next 2 Years, ECB’s Lagarde Admits

[Jul 9, 2023 12:30 PM] Inflation in the eurozone has started to decline but the area’s monetary authority expects it to remain above its target in the next two years. The European Central Bank has to do more to bring it down, its governor commented on the backdrop of…

Right to Pay With Cash Enshrined in Constitution of Slovakia Amid Digital Euro Fears

[Jun 21, 2023 4:30 AM] A member of the eurozone is amending its constitution in order to guarantee citizens the right to cash payments. The move comes amid growing fears that a digital version of the common European currency may eventually become the only means of…

Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits

[May 19, 2023 5:30 AM] Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been…

Rate Hikes Affecting Housing Markets in Eurozone, United States, ECB Study Shows

[May 18, 2023 4:00 PM] Interest rate hikes in the euro area are already causing a decline in housing investment, the zone’s central bank revealed in a study. While smaller than in the United States, the impact of the monetary policy tightening on the Old Continent is…

Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says

[May 12, 2023 4:30 AM] Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority slowed the pace of its rate hikes last week…

ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says

[May 4, 2023 9:30 PM] The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator…

Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say

[Apr 7, 2023 11:30 AM] Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials…

Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says

[Mar 24, 2023 8:00 AM] The digital euro has an important role in preserving the payment autonomy of Europe, the head of the eurozone’s monetary authority emphasized. The new currency, which is still under development, is meant to be sovereign and safe, cheap and widely…

Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy

[Jan 19, 2023 2:30 AM] The ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the…

Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession, Top ECB Official Says

[Dec 22, 2022 9:30 AM] Interest rates will continue to rise while the euro area falls into recession, a high-ranking executive at the European Central Bank (ECB) has indicated. His statements follow the latest rate increase announced by the monetary authority last week…