Biden administration expands sanctions against Russia, cutting off U.S. transactions with central bank

tweet at 6:33am: #ECB'S PANETTA: SHOULD ADJUST POLICY CAREFULLY - BBG *ECB'S PANETTA: MAKES SENSE TO ACT PRUDENTLY *PANETTA: ECB MUST AVOID SUFFOCATING THE RECOVERY *PANETTA: AS WORLD BECOMES DARKER, ECB STEPS SHOULD BE SMALLER tweet at 6:33am: ECB's Panetta: Faced With Such Uncertainty, There Is A Case For The Central Bank To Accompany The Recovery With A Light TouchPanetta: Small steps in a dark room: guiding policy on the path out of the pandemic After many years of too-low inflation in the euro area, fears have turned to the prospect that inflation may remain too high for too long. Across advanced economies, the current inflation spike is proving to be broader and more persistent than initially expected, leading central banks to reassess the risk that it could become entrenched. This is no easy task, especially in the euro area. Economic conditions in the euro area have benefited from the strong response of monetary policy and its positive interactions with fiscal policy during the pandemic. But this is not a typical business cycle, and we are not seeing a typical recovery. The current inflation spike is for the most part not being driven by domestic factors – by an economy that is “running hot”, in other words. Demand remains below its pre-crisis trend. Instead, the economy is experiencing a series of imported supply shocks that are pushing up inflation and depressing demand. The exit from the pandemic is characterised by global mismatche

tweet at 7:55am: THIS WEEK, IEA MEMBERS MAY AGREE TO RELEASE 70 MILLION BARRELS OF OIL FROM STOCKPILES, ACCORDING TO SOURCES - WSJ.

Canada's current account balance (on a seasonally adjusted basis) recorded a $0.8 billion deficit in the fourth quarter of 2021 after posting a $0.8 billion surplus in the ...