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FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski/File Photo
LONDON/MILAN (Reuters) - Euro zone politicians, courts and policy hawks will pose a stiff challenge this year to the ECB’s resolve to pin down the bloc’s borrowing costs, precisely at a time when higher U.S. Treasury yields are tempting investors away from European markets.
The European Central Bank has held sovereign debt yields low through bond purchases, and recently increased buying in its 1.85 trillion-euro ($2.22 trillion) emergency stimulus scheme, known as PEPP.
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ISTANBUL (Reuters) - Turkey’s central bank held rates steady at 19% as expected on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Tayyip Erdogan fired the hawkish former governor and sparked a market selloff.
FILE PHOTO: Turkey s Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. REUTERS/Umit Bektas
In a statement, the bank also ditched last month’s pledge to “decisively” maintain a tight monetary policy “for an extended period” to address inflation, which has risen above 16% and been in double-digits for most of the last four years.
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SYDNEY, April 13 (Reuters) - The Australian and New Zealand dollars drifted lower on Tuesday as caution in global markets outweighed upbeat economic news and a solid sale of new Aussie government bonds.
The Aussie slipped to $0.7597, as speculators looked to test support around $0.7595. The currency has now spent three weeks rattling around in a $0.7533/7676 range and a break lower would likely unleash a large move.
The kiwi dollar eased to $0.7007 and was nearing support at $0.6998. The kiwi has also been trapped between $0.6946 and $0.7070 for three weeks or so.
The U.S. dollar found support from wagers that U.S. consumer price data due later would show a big increase in headline inflation and push Treasury yields higher.
By Reuters Staff
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DUBLIN, April 15 (Reuters) - Ireland is on track to ease restrictions from May 4 to allow the phased reopening of all retail stores and hairdressers and will also develop a plan for further reopenings in June and July, Deputy Prime Minister Leo Varadkar said on Thursday.
Ireland shut most shops, building sites and hospitality in late December after a surge of COVID-19 infections. It began gradually unwinding economic restrictions this week, with housebuilding permitted and all students returning to schools.
The third shutdown in the last year has turned one of the world’s highest incidence rates of COVID-19 in January into one of Europe’s lowest. The number of cases per 100,000 people measured over the past 14 days has fallen to 132 this week.
By Reuters Staff
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FILE PHOTO: EU Commissioner for Budget Johannes Hahn speaks during the debate on the application of Regulation (EC) 2020/2092 and the Rule of Law conditionality mechanism during a plenary session of the European Parliament in Brussels, Belgium March 11, 2021. Aris Oikonomou/Pool via REUTERS
(Reuters) - The European Union adopted a funding strategy for its 800 billion euro coronavirus recovery funding plan on Wednesday, the EU commissioner for budget and administration said.
The EU will raise 800 billion euros from this year to the end of 2026 through the plan, Johannes Hahn told reporters in a virtual press conference.
The funding infrastructure backing the issuance should be ready by June with funding to start in July, Hahn said.