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(Bloomberg) -- European Central Bank President Christine Lagarde declined to give a timeline for interest-rate cuts but emphasized that wage data will be vital in deciding when to begin monetary easing.Most Read from BloombergMusk Says First Neuralink Patient Received Implant in BrainMusk Risks Losing World’s Richest Title After Pay Package VoidedTech Giants Slide in Late Trading After Earnings: Markets WrapUPS CEO Kicks Off Productivity Drive by Cutting 12,000 ManagersTraders Line Up for ‘Once-
(Bloomberg) -- European Central Bank policymaker Francois Villeroy de Galhau has thrown down the gauntlet to his colleagues on the Governing Council, raising the prospect of loosening monetary policy at any of their next meetings.Most Read from BloombergHouthi Hit on Russian Fuel Has Oil Traders Recalculating RisksSingapore’s $200,000 Toyotas Fuel Angst Over Widening Wealth GapUS Fires on Houthi Missile Hours After Trafigura Ship AttackGiuliani Lists Yankees Loot, Trump Claim as Assets in Bankru
(Bloomberg) -- The European Central Bank will keep interest rates at 4% for as long as needed to tame inflation, Governing Council member Francois Villeroy de Galhau said — indicating he doesn’t favor future increases at this stage.Most Read from BloombergDebris Spotted in Search for Missing US F-35 Fighter JetVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingIndia, Canada Trade Diplomatic Blows Over Murder AllegationsHow Auto Executives Misread the UAW Ahead of Historic Strik
Overly loose budget policies risk fueling inflation at a time when the European Central Bank is fighting to bring it lower, ECB policymaker Francois Villeroy de Galhau said on Friday. The ECB raised its main interest rate on Thursday to a record high 4% and signalled its latest hike was likely to be the last as the euro zone's economy slows after a moving to bring inflation lower over more than a year. Speaking at a financial conference in Spain, Villeroy declined to speak about the decision and urged governments to not complicate the ECB's task as it seeks to bring inflation back to its 2% target towards its 2% by 2025.
But it was roughly 50 bps higher than the low reached during the banking jitters in the middle of last month. Antoine Bouvet, senior rates strategist at Dutch bank ING, said Tuesday's drop in yields was likely driven by a sharp fall in Spanish producer inflation.
Euro zone government bond yields fell on Tuesday as investors remained on edge about the state of the economy ahead of the European Central Bank's interest rate decision next week.
European Central Bank policymakers are converging on a 25 basis point interest rate hike in May, even if other options remain on the table and the debate is not yet settled, according to five sources with direct knowledge of the discussion. The ECB has raised rates by at least 50 basis points each at six successive meetings -- the fastest pace on record -- to fight stubbornly high inflation.
Central bank digital currencies (CBDCs) can serve as alternative to cash, help speed cross-border payments in future, according to panellists at Bank of International Settlements summit.
As that message drove Italian borrowing costs higher on financial markets on Friday, policymakers at the bank lined up to reinforce expectations that euro zone rates would continue to rise in an effort to tame stubbornly high inflation. In unusually stark comments likely to fuel concerns abroad about eurosceptical tendencies within Giorgia Meloni's right-wing government, Deputy Prime Minister Salvini branded the ECB's conduct "unbelievable, baffling, worrying".