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Mario Draghi

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ECB to keep monetary policy loose for as long as needed

The European Central Bank will keep its loose and growth-supportive monetary policy stance in place for "quite a long time", ECB executive board members said on Friday.With the euro zone economy stuck in recession, the ECB cut its main refinancing rate to a record low of 0.5 percent and extended its provision of unlimited funds to banks by a year at its May policy meeting,Inflation fell to a three-year low of 1.2 percent in April, allowing some room for maneuver.The ECB's Joerg Asmussen told journalists in Berlin the bank's monetary policy would remain expansive for as long as needed.His colleague Benoit Coeure hit a similar tone when speaking at a conference in Orleans in France, saying the ECB was committed to providing the euro zone with abundant liquidity for as long as necessary."We are saying that because we are well aware that rigidities and difficulties of transmission in the euro zone mean that the monetary policy will have to stay accommodative for quite a long time," Coeure ...

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  1. Italian Borrowing from ECB at Lowest Level in a Year

    The amount borrowed by Italian banks from the European Central Bank edged down in April to its lowest level in a year, Bank of Italy data published Wednesday showed....

  2. ECB Looks To Buy Bad Loans In Southern Europe

    The European Central Bank could soon be buying bad loans from struggling southern European nations in an effort to spur lending to businesses, German newspaper Die W...

  3. EUROPE MARKETS: Europe Stocks Climb To 2013 Record Close

    Europe's benchmark stock index closed at a record 2013 level on Tuesday, with banks in the lead after well-received earnings reports from heavyweight HSBC Holdings P...

  4. EUROPE MARKETS: Europe Stocks Rise As Banks Boost Mood

    European stock markets moved higher on Tuesday, with banks rallying after earnings reports from heavyweight HSBC Holdings PLC and SociÛtÛ GÛnÛrale SA.The Stoxx Europ...

  5. Benchmark German Index Logs Record High

    European equities nudged higher on Tuesday, with sentiment boosted by a record high in the German DAX index, forecast-beating earnings and prospects of sustained cen...

  6. Europe's jobs crisis comes into sharper relief

    Europe's policymakers are starting to recognize chronic unemployment as a crisis in its own right, rather than something that will resolve itself when the economy im...

  7. EUROPE MARKETS: European Stocks Surge; Germany's DAX Hits Record

    European stocks rallied on Friday, with Germany's benchmark index surging to a record after the release of better-than-expected U.S. employment data for April.The St...

  8. EUROPE MARKETS: Europe Stocks Surge After Upbeat U.S. Jobs Data

    European stock markets shot to their best levels since mid-2008 on Friday after better-than-expected U.S. jobs data, which quashed some fears that the recovery in th...

  9. MARKET SNAPSHOT: U.S. Stocks Rally On Surprise Jobless-claims Drop

    U.S. stocks surged on Thursday, with the S&P 500 clearing the prior day's drop to close at a record, after the European Central Bank cut its benchmark interest rate ...

  10. MARKET SNAPSHOT: U.S. Stocks Rise On Surprise Jobless-claims Drop

    U.S. stocks surged Thursday, with the S&P 500 clearing the prior day's drop and positioned for a record close, after the European Central Bank cut its benchmark inte...

  11. ECB rate cut decision was not unanimous

    The European Central Bank's decision makers were split over whether to cut or hold interest rates, its head, Mario Draghi, implied on Thursday."There was a very, ver...

  12. Draghi: ECB Policy Extraordinarily Accommodative

    European Central Bank President Mario Draghi said on Thursday that the ECB will continue conducting the main refinancing operations as fixed-rate-tender procedures w...

  1. G7 to press on with bank reforms, Japan escapes censure

    Group of Seven finance officials agreed on Saturday to redouble efforts to deal with failing banks and gave a green light to Japan's drive to galvanize its economy.B...

  2. ECB's Draghi says no call for G7 central banks to do more

    Major central banks did not face calls to do more to boost the world economy when Group of Seven finance officials met on Saturday, European Central Bank President M...

  3. UniCredit CEO: ECB Plan on ABS Effective to Boost Lending

    UniCredit SpA (UCG.MI) Chief Executive Federico Ghizzoni Friday said the European Central Bank's initiative on the asset-backed securities market will be a valuable ...

  4. Bundesbank's Weidmann says ECB still has room to act

    The ECB still has room to cut its already record low interest rates, Bundesbank chief Jens Weidmann said in a newspaper interview on Thursday, and hit out at France'...

  5. EUROPE MARKETS: Europe Stocks Extend Gains; Germany Hits Record

    European stock markets rose on Wednesday, after better-than-expected Chinese export data, while German stocks closed at all-time highs after upbeat industrial-produc...

  6. EUROPE MARKETS: Europe Stocks Extend Gains, Germany Hugs Record

    European stock markets rose on Wednesday, keying off gains in Asia after better-than-expected Chinese export data, while German stocks flirted with fresh all-time hi...

  7. Italian Borrowing from ECB Lowest in a Year

    The amount borrowed by Italian banks from the European Central Bank edged down in April to its lowest level in a year, Bank of Italy data published Wednesday showed....

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