Whoa! Another piece of effective rumour-mongering. That'll keep things volatile for a bit. For once people will be honing the Q's for the ECB News Conference in about an hour's time.
ECB TOLD MINISTERS TUESDAY SOME EU BANKS COULD BE VULNERABLE— *Walter Bloomberg (@DeItaone) March 16, 2023
*ECB'S GUINDOS SAID EU LENDERS MUCH LESS EXPOSED TO SVB FALLOUT— Cable FX Macro (@cablefxmacro) March 16, 2023
*ECB'S GUINDOS SAID CONFIDENCE SLUMP COULD TRIGGER EU CONTAGION
Ecb's de guindos: there is no room for complacency on the eu banking system.— BTBMarkets (@BTBMarkets) March 16, 2023
The world was saved there briefly overnight after SNB's giant liquidity shot into CS. But it didn't take long fort reality to sink in about the band-aid-like nature of this facility. However, the situation under the hood may in fact be worse than some thought as Bloomberg reports, according to people familiar with the talks, that ECB Vice President Luis de Guindos told finance ministers on Tuesday that some European Union banks could be vulnerable to rising interest rates. Guindos said that the ECB couldn’t rule out that some lenders might be at risk because of their business models, according to the people. The ... (full story)
Chinese state media blamed political infighting and poor financial regulation in the US for recent bank failures, escalating the two nationsí war of words amid simmering tensions. ...
Wholesale sales rose 2.4% to $84.2 billion in January. Sales increased in six of the seven subsectors, accounting for 84% of wholesale sales. Strong growth in the machinery, ...
Prices for U.S. imports edged down 0.1 percent in February, after declining 0.4 percent in January, the U.S. Bureau of Labor Statistics reported today. Lower fuel prices in ...
Inflation is projected to remain too high for too long. Therefore, the Governing Council today decided to increase the three key ECB interest rates by 50 basis points, in line with its determination to ensure the timely return of inflation to the 2% medium-term target. The elevated level of uncertainty reinforces the importance of a data-dependent approach to the Governing Councilís policy rate decisions, which will be determined by its assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation, and the strength of monetary policy transmission. The Governing Council is monitoring current market tensions closely and stands ready to respond as necessary to preserve price stability and financial stability in the euro area. The euro area banking sector is resilient, with strong ca tweet at 9:17am: ECB: Inflation Too High for Too Long ECB: Data Dependent Approach Needed ECB: Stands Ready to Act As Necessary ECB: Banking Sector Resilient ECB: Toolkit Fully Equipped ECB: Governing Council Is Monitoring Current Market Tensions Closely and Stands Ready to Respond As Necessary https://t.co/ULUy8YSeSa tweet at 9:17am: #ECB IS READY TO RESPOND ON PRICE STABILITY, FINANCIAL STABILITY - BBG *ECB: TOOLKIT EQUIPPED TO PROVIDE LIQUIDITY SUPPORT IF NEEDED *ECB: TPI IS AVAILABLE FOR UNWARRANTED, DISORDERLY MARKET MOVES
ECB President Christine Lagarde explains the Governing Council's monetary policy decisions and will answer questions from journalists at the Governing Council press conference.
tweet at 9:48am: ECB'S LAGARDE: MONITORING MARKET TENSION CLOSELY tweet at 9:49am: *LAGARDE: ECB FORECASTS WERE FINALIZED IN EARLY MARCH tweet at 9:50am: ECB PRESIDENT CHRISTINE LAGARDE: 'INFLATION IS PROJECTED TO REMAIN TOO HIGH FOR TOO LONG' #ecb #europeancentralbank #interestrates #monetarypolicy #christinelagarde tweet at 9:54am: ECBís Lagarde: Economy to Recover Over Coming Quarters - Industrial Production Should Pick Up - Labour Market Strong - Government Energy Aid Should Be Temporary, Targeted - Important to Roll Back Support Measures Promptly tweet at 9:56am: ECBís Lagarde: Underflying Price Pressures Remain Strong - Services Inflation Driven by Past Energy Increases - Wage Pressures Strengthened - Most Meansures of Long Term Inflation Expectations Stand Around 2%