{
}
The European Central Bank has cut interest rates for the third time this year, responding to a weakened growth outlook and disinflationary pressures. Policymakers emphasize a data-dependent approach for future rate decisions, with discussions on potential cuts in December, while remaining cautious about inflation trends and economic stability.
European Central Bank Governing Council member Pierre Wunsch stated that discussions about a half-point interest-rate cut in December are premature. He emphasized the need to wait for further inflation data and monitor economic developments, despite signs of weakening in the euro-zone.
G20 nations have diluted a crucial climate finance report from leading economists, despite UN calls for urgent action. The report highlights myths hindering climate progress and urges G20 governments to adopt green strategies, yet faced significant revisions after government pushback. With emissions at a record high, the UN warns that immediate and substantial cuts are essential to meet global climate goals.
Gabriel Makhlouf, a member of the European Central Bank's Governing Council, emphasized the need for "powerful" data before considering significant interest rate cuts. He advocates for a cautious approach to maintain the trajectory of inflation towards the 2% target, stating that exceptional circumstances would warrant such a leap.
Mārtiņš Kazāks, governor of the Bank of Latvia and ECB Governing Council member, indicated that a jumbo half-point interest rate cut is possible for December, emphasizing that all options should be considered. His remarks follow a recent back-to-back rate cut by the ECB and come amid lower-than-expected inflation data, which has shifted the outlook towards potential further cuts. Kazāks noted that while the bank remains in restrictive territory, easing rates will depend on forthcoming economic data.
Joachim Nagel, a member of the European Central Bank's Governing Council, emphasized the need for caution regarding interest-rate cuts. Speaking at the IMF annual meetings in Washington, he stated that while all options remain open for the December meeting, a hasty decision should be avoided.
European Central Bank officials are increasingly divided on future monetary policy as the 2% inflation target nears. Dovish members advocate for significant interest-rate cuts, while hawkish colleagues caution against premature easing, emphasizing that the battle against inflation is not yet over.
Mario Centeno, a member of the European Central Bank's Governing Council, advocates for significant interest-rate cuts in response to a lack of economic recovery and increasing risks. He emphasizes the need to stimulate the euro-zone economy swiftly to encourage spending and investment, warning that rising unemployment could hinder future growth.
The Swiss franc has surged to historic highs, gaining over 6% against the euro since May, driven by low inflation and expectations of further interest rate cuts by the European Central Bank. Meanwhile, Liechtenstein commemorates the 100th anniversary of adopting the Swiss franc, which replaced the devalued Austrian krone post-World War I, reflecting ongoing confidence in Switzerland's economic stability. Analysts suggest the currency may be overvalued, with the Big Mac Index indicating a 34% overvaluation against the dollar.
Christine Lagarde cautioned that the winner of the upcoming US election should be mindful of the potential negative impact on global trade. Speaking at an Atlantic Council event, the European Central Bank chief emphasized that history illustrates the harm caused by rising tariffs and the importance of free commerce.
European Central Bank Legal Entity of Public Law
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
european central bank members discuss interest rate cuts and inflation outlook
07:57 25.10.2024
ecb official calls half-point rate cut discussions premature amid economic uncertainty
20:14 24.10.2024
G20 faces pressure to enhance climate action amid rising global emissions
United States Dollar
European Central Bank Legal Entity of Public Law
UN Environment Programme
MEX
FRA
IND
ESP
ZAF
USA
TUR
SAU
AZE
KOR
BRA
CHN
Vera Songwe
André Aranha Corrêa do Lago
Mariana Mazzucato
Inger Andersen
António Guterres
Show more
19:36 24.10.2024
ECB cautious on rate cuts without strong economic data, says Makhlouf
17:41 24.10.2024
eurozone central bank members discuss potential half-point interest rate cut
Euro
European Central Bank Legal Entity of Public Law
LVA
Mārtiņš Kazāks
Mario Centeno
Karen Tso
Show more
15:30 24.10.2024
ecb should remain flexible on interest rate cuts says nagel
15:15 24.10.2024
diverging views among ecb officials on future monetary policy direction
07:05 24.10.2024
ECB urged to implement significant interest rate cuts to boost economy
07:00 24.10.2024
Swiss franc reaches historic highs as Liechtenstein celebrates currency milestone
Swiss Franc
United States Dollar
Euro
European Central Bank Legal Entity of Public Law
Swiss National Bank
CHE
06:23 24.10.2024
lagarde warns us election winner against harming global trade
18:06 23.10.2024
Trending
Subcategory
Corporate News
Startups & Entrepreneurship
Industry Trends
Global Trade Developments
Stock Market Updates
Industry Mergers & Acquisitions
Private Equity Deals
Supply Chain Management
Government Economic Policies
Retail and Consumer Goods
Fintech Startups
Venture Capital Investments
Inflation and Monetary Impact
Finance Mergers & Acquisitions
Workplace Trends
Energy Sector Developments
Central Bank Actions
CEO Changes
Emerging Startups
Crypto Policies and Governance
Countries:
Companies:
Apple Inc.
NIO Inc.
Nikkei 225
Delhivery Limited
Ecom Express Ltd.
Google Inc.
Nintendo Co., Ltd.
Grab2Go AS
OLA ELECTRIC MOBILITY LTD
Eurasia Groupe SA
British International Investment plc
XPeng Inc.
Li Auto Inc.
Morgan Stanley
Taiwan Semiconductor Manufacturing Company Limited
VFS Global AG
LARGAN Precision Co.,Ltd
S&P/ASX 200
HANG SENG BANK
Arazul Sequoia Capital FIM C Priv
Currencies:
United States Dollar
Indian Rupee
Euro
Chinese Yuan
Japanese Yen
United Arab Emirates Dirham
New Taiwan Dollar
Indonesian Rupiah
South Korean Won
Saudi Riyal
Offshore Chinese Yuan
Hong Kong Dollar
Malaysian Ringgit
Filipino Peso
West African CFA Franc
Thai Baht
Mexican Peso
Croatian Kuna
Bahraini Dinar
Egyptian Pound
People: