European Central Bank hikes rates despite market mayhem, pledges support if needed
The European Central Bank on Thursday announced a further rate hike of 50 basis points, signaling it is ready to supply liquidity to banks if needed, amid recent turmoil in the banking sector. The ECB had signaled for several weeks that it would be raising rates again at its March meeting, as inflation across the 20-member region remains sharply above the targeted level. In February, preliminary data showed headline inflation of 8.5%, well above the central bank’s target of 2%. Some market players questioned whether President Christine Lagarde would still go ahead with the move, given recent shocks in the banking ... (full story)
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Working gas in storage was 1,972 Bcf as of Friday, March 10, 2023, according to EIA estimates. This represents a net decrease of 58 Bcf from the previous week. Stocks were 521 Bcf ...
tweet at 10:11am: Ecb's president lagarde: 3-4 didn't support decision. tweet at 10:10am: ECB’s Lagarde: Not Waning on Our Commitment to Fight Inflation - Given Uncertainty, Better to Make Decision That We Believe Is Robust - Determined to Return Inflation to 2% - Board Proposed No Other Option - Was Adopted by Very Large Majority tweet at 10:13am: ECB’s Lagarde: 3-4 Didn’t Support Decision - Dissenters Wanted More Time to Monitor Situation - No Tradeoff Between Price and Financial Stability - Stand Ready to Provide New Facilities if Needed - Euro Liquidity Is Perfectly Addressed tweet at 10:27am: #ECB LAGARDE: DIDN'T DECIDE ANYTHING ON APP ROLLOFF - BBG
tweet at 10:04am: ECB’s Lagarde: Financial Market Tensions Have Been Severe - Reiterates ECB’s Data-Dependent Approach Going Forward - If Baseline to Persist When the Uncertainty Reduces, Will Have a Lot More Ground to Cover - This is a Big Caveat tweet at 10:05am: LAGARDE: IMPOSSIBLE TO DETERMINE WHAT THE RATE PATH WILL BE tweet at 10:05am: MORE ECB'S LAGARDE: DEFLECTS QUESTION ON WHETHER RATES HAVE PEAKED; REFERS TO POLICY STATEMENT #ecb #europeancentralbank #interestrates #monetarypolicy #christinelagarde tweet at 10:06am: *LAGARDE: STAND READY TO RESPOND TO PRESERVE PRICE STABILITY tweet at 10:08am: ECB’s Lagarde: Can Exercise Creativity In Short Order If There Is A Liquidity Crisis -But This Is Not What We Are Seeing
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tweet at 10:49am: JPMorgan, Morgan Stanley, Others in Talks to Bolster First Republic, Sources Say -- WSJ $FRC tweet at 10:56am: Breaking: JPMorgan, Morgan Stanley and several other big banks are in talks to aid First Republic Bank. The deal could include a sizable capital infusion to shore up the beleaguered lender. https://t.co/Y7WNBVltWo
Momentum trading is a strategy that involves taking a position based on the strength of a market trend. It’s a popular way of trading in volatile markets, as the goal is to find ...
Treasury Secretary Janet Yellen sought to reassure markets and lawmakers on Thursday that the federal government is committed to protecting U.S. bank deposits following the ...