European Central Bank correspondent, Frankfurt
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May 27, 2015

ECB might ease Greek restrictions if aid deal likely -source

LONDON, May 28 (Reuters) – The European Central Bank might
ease restrictions on how much short-term Greek government debt
the country’s banks can hold if becomes clear the euro zone will
disburse long-awaited aid to Athens, a banking source said on
Wednesday.

The ECB has kept up pressure on cash-strapped Greece in
recent months by capping the amount of Treasury bills the
country’s banks are allowed to hold, effectively cutting off the
government’s main borrowing channel.

May 26, 2015

Dollar hits one-month high as periphery woes weigh on Europe

LONDON (Reuters) – Greece’s financial crisis and signs of growing opposition to austerity in Spain sent the euro to its lowest level in a month on Tuesday, while shares and commodities took a knock as the dollar powered higher.

Europe’s main markets returned to action after a long weekend with the mood unsettled by Sunday’s strong local election showing by anti-austerity parties in Spain, while bets were put back on a U.S. rate hike this year after having been all but canceled over the past two months.

May 22, 2015

Stocks snap losing streak, China sees best week of 2015

LONDON, May 22 (Reuters) – Emerging market shares snapped a
four-day losing streak on Friday as China’s soaring stock market
pushed higher again to cap a stellar near-eight percent rise in
its best week of the year.

Though a more subdued run for other countries meant MSCI’s
main emerging market index was fractionally lower on
the week, China’s latest gains took its surge since
March to an astounding 45 percent.

May 21, 2015

World shares subdued by mixed China, euro zone PMI data

LONDON (Reuters) – World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data put pressure on Beijing for more stimulus and the Federal Reserve signalled an increase in U.S. interest rates is still some way off.

European markets opened largely subdued, however, as disappointing German purchasing manager data (PMI) offset an improvement in France. That left the region’s main bourses down as much as 0.6 percent and investors preferring bonds.

May 21, 2015

Shares subdued by mixed China, euro zone PMI data

LONDON (Reuters) – World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data put pressure on Beijing for more stimulus and the Federal Reserve signaled an increase in U.S. interest rates is still some way off.

European markets opened largely subdued, however, as disappointing German purchasing manager data (PMI) offset an improvement in France. That left the region’s main bourses <0#.INDEXE> down as much as 0.6 percent and investors preferring bonds.

May 20, 2015

ECB under fire over market-sensitive closed-door speech

LONDON/FRANKFURT (Reuters) – The European Central Bank is under fire after one of its policymakers gave market sensitive information to an invitation-only conference attended by hedge fund managers, a day before his speech was publicly released.

Politicians and market participants criticised the ECB over the speech by board member Benoit Coeure, in which he said the central bank would accelerate bond buying under a programme aimed at averting deflation and helping to revive the euro zone economy.

May 19, 2015

European markets rally as ECB hints at faster buying pre-summer

LONDON (Reuters) – The euro tumbled on Tuesday and the region’s stocks and bonds jumped after the European Central Bank suggested it may speed up its 1 trillion euro bond-buying campaign slightly to account for lower market liquidity in high summer.

World stocks were already testing all-time highs after another jump in Chinese stocks and a record close on Wall Street, and European markets shot up after top policymaker Benoit Coeure talked of adjusting the ECB’s buying programme.

May 19, 2015

Euro, bond yields tumble as ECB hints at faster buying pre-summer

LONDON, May 19 (Reuters) – The euro tumbled on Tuesday and
the region’s stocks and bonds jumped after the European Central
Bank suggested it may speed up its 1 trillion euro bond-buying
campaign slightly to account for lower market liquidity in high
summer.

World stocks were already testing all-time highs after
another jump in Chinese stocks and a record close on Wall
Street, and European markets shot up after top policymaker
Benoit Coeure talked of adjusting the ECB’s buying programme.

May 15, 2015

EBRD head throws hat into ring for second term

TBILISI, May 15 (Reuters) – The head of the European Bank
for Reconstruction and Development (EBRD), Suma Chakrabarti,
fired the starting gun on Friday for what is likely to be a
year-long race to become the bank’s next chief, signalling he
would like a second term.

Chakrabarti’s current term runs until the middle of next
year and the bank’s shareholders, which are dominated by G7
governments, are likely to vote on the position at the bank’s
next annual meeting in a year’s time.

May 14, 2015

EBRD forecasts deeper economic slump in Ukraine this year

TBILISI, May 14 (Reuters) – New forecasts from the European
Bank for Reconstruction and Development painted a marginally
brighter picture for its 35-country region on Thursday, but
predicted Ukraine’s economy would now slump by a
more-than-expected 7.5 percent this year.

The EBRD, created in 1991 originally to invest in the former
Soviet bloc countries of eastern Europe, is holding its annual
meeting in the Georgian capital Tbilisi against the backdrop of
the worst East-West standoff since the Cold War.