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Sep 5, 2013

ECB holds rates, Draghi’s guidance under market microscope

FRANKFURT, Sept 5 (Reuters) – The European Central Bank left
interest rates unchanged on Thursday, and markets turned their
attention to ECB chief Mario Draghi’s news conference for any
signs a euro zone recovery will affect the bank’s policy stance.

Abandoning its tradition of never pre-committing on future
moves, the ECB said in July it would keep its rates at current
or lower levels for an “extended period” – its first use of
forward guidance.

Sep 4, 2013

ECB’s Draghi seen pushing credibility of low rates promise

FRANKFURT (Reuters) – Keeping rates on hold will be the easy part of the European Central Bank meeting on Thursday: the harder job will be chief Mario Draghi having to balance talking up euro zone recovery and talking down market rates.

Recent economic data has come in relatively strong, largely validating the ECB’s main scenario of a gradual recovery taking hold in the second half of this year and gathering pace in 2014.

Aug 18, 2013

With words failing, bank may need to act on market rates

FRANKFURT, Aug 18 (Reuters) – Mario Draghi’s silver-tongued
eloquence isn’t working like it used to – at least to judge from
money market rates.

The European Central Bank chief, who wowed investors with
his vow a year ago to do “whatever it takes” to save the euro,
has been unable to steer down market interest rates as much as
he would like despite giving ‘forward guidance’ on policy.

Aug 13, 2013

German investor morale brightens as euro zone picks up

MANNHEIM, Germany, Aug 13 (Reuters) – German analyst and
investor sentiment climbed more than expected in August, a
leading survey showed on Tuesday, suggesting Europe’s largest
economy is gradually regaining momentum after suffering a
contraction in late 2012 and a weak start to 2013.

The ZEW economic think tank’s monthly poll of economic
sentiment rose to 42.0 from 36.3 in July, reaching its highest
level since March and beating the consensus forecast in a
Reuters poll for a rise to 40.0.

Aug 1, 2013

ECB holds rates, confirms no move for “extended period”

FRANKFURT, Aug 1 (Reuters) – The European Central Bank left
interest rates at a record low 0.5 percent on Thursday and
affirmed that they will remain there for some while to come and
could yet fall further.

ECB President Mario Draghi hinted that policy would not be
tightened until well into next year at the earliest, although
the central bank will give no time horizon for when rates might
move.

Aug 1, 2013

ECB holds rates as economy perks up

FRANKFURT (Reuters) – The European Central Bank left interest rates at a record low 0.5 percent on Thursday following signs of a tentative recovery in the euro zone economy.

Its president, Mario Draghi, is expected to emphasize the message that rates will stay at record lows for an extended period at the news conference, which starts at 1230 GMT.

Jul 31, 2013

Analysis: ECB lending revamp risks more pain in Spain

FRANKFURT (Reuters) – Spanish banks risk their troubles being compounded by a jump in the cost of lifeblood funding from the European Central Bank.

A one-notch downgrade by a single credit rating agency is all that stands between them and a financial blow that would pressure the ECB to act, but probably not with its OMT bond-buy plan.

Jul 31, 2013

ECB lending revamp risks more pain in Spain

FRANKFURT, July 31 (Reuters) – Spanish banks risk their
troubles being compounded by a jump in the cost of lifeblood
funding from the European Central Bank.

A one-notch downgrade by a single credit rating agency is
all that stands between them and a financial blow that would
pressure the ECB to act, but probably not with its OMT bond-buy
plan.

Jul 25, 2013

A year on, Draghi’s ‘save the euro’ pledge remains untested

FRANKFURT (Reuters) – A year after Mario Draghi vowed to do “whatever it takes” to save the euro, the European Central Bank president can claim to have staved off disaster – but he may have to back up his words with action before long.

Were euro zone turmoil to return, especially with Spain or Italy on the receiving end, Draghi and the ECB will have to prove that his promise – made on July 26 last year – has substance, something he and the ECB have not yet had to do.

Jul 25, 2013

Analysis: A year on, Draghi’s ‘save the euro’ pledge remains untested

FRANKFURT (Reuters) – A year after Mario Draghi vowed to do “whatever it takes” to save the euro, the European Central Bank president can claim to have staved off disaster – but he may have to back up his words with action before long.

Were euro zone turmoil to return, especially with Spain or Italy on the receiving end, Draghi and the ECB will have to prove that his promise – made on July 26 last year – has substance, something he and the ECB have not yet had to do.

    • About Sakari

      "I am part of the Reuters team covering the European Central Bank. Before moving to Frankfurt in early 2009, I was based in Helsinki, where I wrote about the Finnish economy and paper industry."
      Hometown:
      Helsinki
      Joined Reuters:
      2006
      Languages:
      Finnish, English, German, Swedish
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