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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: European Central Bank

European Central Bank stories: 32 news summaries

1 - 20 of 32 Stories | 1 2 Next >>

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 Merkel Rips the Fed 
 for Deepening Crisis 

German chancellor says central banks have made economy worse

Jun 3, 09 6:46 AM CDT
(Newser) - World leaders rarely criticize central banks in public, but yesterday Angela Merkel laid into the Fed, the European Central Bank, and other institutions for deepening the global economic crisis. In a tough speech, the German chancellor claimed that the banks were too powerful, had acted too aggressively, and, in the... More »

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Angela Merkel • Federal Reserve • global economy • central bank • European Central Bank • monetary policy • Chancellor of Germany • financial crisis

Europe Cuts Rates Less
Than Expected to 1.25%

Economists, markets had hoped for 50-point cut

Apr 2, 09 7:18 AM CDT
(Newser) - The European Central Bank cut interest rates today by 25 basis points, less than expected, to 1.25%. Economists had widely expected a cut double that size, reports the Financial Times, and financial markets soared on the news this morning. The ECB has been more hesitant to cut rates than... More »

MORE ABOUT:
recession • European Central Bank • ECB • eurozone • interest rate cut • Jean-Claude Trichet

OPINION

US-Style Stimulus Might Not Be Right for Europe

To each economy its own, says central bank head

Mar 24, 09 10:04 AM CDT
(Newser) - Today, in newspapers worldwide, President Obama called on nations to stimulate their economies, but Europe isn't sold on the idea. Europe's leaders are viewed as cautious, but perhaps their “policy is appropriate for European conditions,” Jack Ewing writes in Der Spiegel. For one thing, Europe already spends much... More »

MORE ABOUT:
European Union • European Central Bank • economic stimulus package • President Obama • Jean-Claude Trichet

OPINION

Obama to G-20: We Must Act Fast on Crisis

Responds to Europe's stimulus reluctance with global op-ed blitz

Mar 24, 09 9:55 AM CDT
(Newser) - President Obama published an op-ed piece in more than 30 newspapers worldwide today, urging the G-20 nations to take immediate, bold action to fix the economy. “The United States is ready to lead,” he wrote in the Los Angeles Times, among others, “and we call on our... More »

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Barack Obama • global economy • editorial • European Central Bank • economic stimulus package • G20 • financial crisis • President Obama



 Euro Bank Chief 
 Slams US 
 on Stimulus 

Central bank chief says nations must get the last effort right

Mar 23, 09 8:34 AM CDT
(Newser) - The head of the European Central Bank says the continent does not need to spend more to combat recession, heightening the standoff between Washington and European governments over response to the financial crisis. In an interview with the Wall Street Journal, Jean-Claude Trichet said governments should concentrate on executing measures... More »

MORE ABOUT:
Federal Reserve • recession • central bank • European Central Bank • eurozone • financial crisis • interest rates • Jean-Claude Trichet

UPDATED

Euro Central Banks Slash Interest Rates

Bank of England drops rate to 2%, ECB to 2.5%, Sweden to 2%

Dec 4, 08 7:21 AM CST
(Newser) - The Bank of England cut interest rates a full 1% today to 2%, the lowest level since 1939, and the European Central Bank followed with a cut of 75 basis points, to 2.5%, the largest cut in its 10-year history, MarketWatch reports. Those moves came on the heels of... More »

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global economy • European Central Bank • Bank of England • interest rate cut • financial crisis

EU Unveils $260B Stimulus Package

Struggling industries, member governments targeted in 2-year plan

Nov 26, 08 3:55 PM CST
(Newser) - The European Union Commission passed a $260 billion stimulus package today intended to boost its members’ economies during the next 2 years, Der Spiegel reports. The plan calls for more funds than most economists expected, but as the commission president Jose Barroso put it: “Exceptional times call for exceptional... More »

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European Union • European Central Bank • auto industry • European Commission • eurozone • economic stimulus package • financial crisis

Germany, Europe's Largest Economy, in Recession 

Europe's largest economy posts worse-than-expected declines

Nov 13, 08 8:13 AM CST
(Newser) - New figures today confirmed that Germany, Europe's largest economy and the world's top exporter, is in recession. The nation's GDP contracted 0.5% in the third quarter, far worse than predicted and the biggest decline in growth in 12 years. The magnitude of the German contraction pushed the euro down... More »

MORE ABOUT:
Germany • Europe • recession • bank • euro • European Central Bank

'Race to Zero' Under Way
as Central Banks Cut Rates

With Fed at 1% and European, Asian banks trimming, no-interest loans not far off, perhaps

Nov 7, 08 12:25 PM CST
(Newser) - Interest rates around the world are falling, with no end in sight as central banks hack away at obstacles to lending and try to jump-start their economies, Bloomberg reports. With the US rate at 1%, the Bank of England yesterday cut its key figure to 3%, the lowest since 1955,... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • European Central Bank • Bank of England • interest rate cut • financial crisis

MARKET Open

 Retail Fears Drive Stocks Down 

Same-store sales weak in October

Nov 6, 08 8:51 AM CST
(Newser) - Stocks took a modest slide at the open today, thanks to dismal data from retailers. The Dow fell 57 points, while the Nasdaq and S&P dropped 1.1% and 0.9% respectively, the Wall Street Journal reports. Most retailers, with the notable exception of Wal-Mart, posted bleak same-store... More »

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stock market • Cisco • European Central Bank • retail sales • Bank of England • same-store sales • interest rate cut • retailers

UPDATED

UK Hacks Rates by 1.5% as Markets Fall; EU Trims .5%

Grimmer-than-expected economic news pummels the global economy

Nov 6, 08 6:30 AM CST
(Newser) - The Bank of England—under massive pressure to stem the red ink drowning the continent's economy—slashed its key lending rate by an unprecedented 150 basis points today, reports Reuters. The move, which set the rate at 3%, dwarfed the 75-point cut market watchers had anticipated. Moments later the European... More »

MORE ABOUT:
Barack Obama • European Central Bank • Bank of England • interest rate cut • financial crisis

MARKETS

 Dow Down 74 After Volatile Day 

Late rally evaporates after Fed confirms cut, but most of Tuesday's gains are preserved

Oct 29, 08 3:19 PM CDT
(Newser) - Volatility ruled Wall Street today as investors waffled in their response to the expected Fed rate cut, MarketWatch reports. Though the session’s final hour saw the Dow rocket to a 250-point gain in light trading, that evaporated and the Dow closed down 74.16 at 8,990.96. The... More »

MORE ABOUT:
Federal Reserve • Dow Jones • General Motors • Nasdaq • European Central Bank • Bank of Japan • Bank of England • federal funds rate • S&P 500 • financial crisis

 Fed Joins 5 
 Central Banks 
 in Shock Rate Cut 

US, EU, UK, others offer 50-point reduction to reverse diving markets

Oct 8, 08 7:04 AM CDT
(Newser) - The Federal Reserve and five other central banks cut interest rates by 50 basis points in an emergency attempt to stem the economic effects of the credit crisis, reports Bloomberg. The move brings the American benchmark rate to just 1.5%, while the European Central Bank and the monetary authorities... More »

MORE ABOUT:
Federal Reserve • central bank • Asian markets • European Central Bank • credit crisis • European markets • Bank of England • interest rate cut

Europeans Seek Unified Credit Crisis Strategy

As individual states act, leaders scramble for coordinated measures

Oct 7, 08 9:19 AM CDT
(Newser) - Finance ministers are meeting today to hash out a plan to steady Europe’s banking system, but resolution continued to be elusive, the New York Times reports. They raised the minimum level for deposit guarantees to €50,000, though some pushed for higher limits; the EU has not developed... More »

MORE ABOUT:
European Union • credit market • European Central Bank • credit crisis • bailout • banks • financial crisis

MARKETS

 Stocks Creep Higher at Open 

Commercial paper plan breeds cautious optimism

Oct 7, 08 9:02 AM CDT
(Newser) - Stocks rose at the opening bell today, buoyed by the Fed’s dramatic promise to intervene in the commercial paper market. The Dow rose 79 points at the open, as the Nasdaq and S&P rose 1.1% and 0.8% respectively, the Wall Street Journal reports. Investors also... More »

MORE ABOUT:
stock market • Federal Reserve • Dow Jones • Nasdaq • European Central Bank • S&P 500

MARKETS

 Reeling Dow Closes Below 10K 

Bailout doesn't provide quick relief for stocks

Oct 6, 08 3:44 PM CDT
(Newser) - Stocks saw heavy losses today as investors lost faith in the bailout’s ability to quickly reverse the slumping economy, MarketWatch reports. The Dow closed below 10,000 for the first time since 2004 after managing to claw back from an 800-point intraday loss. The final tick was down 369.... More »

MORE ABOUT:
Dow Jones • Nasdaq • European Central Bank • S&P 500 • bailout • European stocks • financial crisis

Central Banks Scramble to Feed Cash Into Markets

Biz slows as
bailout talks stall

Sep 26, 08 7:00 AM CDT
(Newser) - The world's central banks are frantically spraying money into the economy to prevent it from seizing up as the US bailout package stalls and confidence plummets, Reuters reports. The holdup in Washington has made edgy commercial banks even more inclined to hoard cash and not lend to each other—leaving... More »

MORE ABOUT:
Federal Reserve • financial markets • central bank • European Central Bank • liquidity • credit crisis • Bank of England • Libor • financial crisis

European Central Bank
Puts $40B More Into Market

With money markets still moribund, the ECB acts to stimulate lending

Sep 22, 08 7:31 AM CDT
(Newser) - The European Central Bank is promising another $40 billion influx of cash to help shore up fluttering money markets among banks on the continent, reports the AP. The ECB said it will announce its lending rate and the number of bidders later today. More »

MORE ABOUT:
Federal Reserve • AIG • European Central Bank • credit market chaos • money supply • financial crisis

UPDATED

 Central Banks 
 Throw $360B Lifeline 

Effects of worldwide effort on markets still unfolding

Sep 18, 08 4:34 AM CDT
(Newser) - The Fed has joined forces with central banks in Europe, Japan and Canada to pump more dollars into the global financial system in a bid to fend off economic catastrophe, Bloomberg reports. The funds—$180 billion from the Federal Reserve and nearly as much from the other banks—are being... More »

MORE ABOUT:
Federal Reserve • central bank • European Central Bank • Bank of Japan • US dollar • Swiss National Bank • financial crisis

 Europe's Markets 
 Dive Despite 
 Intervention 

Central banks pump cash, but bourses tumble

Sep 16, 08 7:15 AM CDT
(Newser) - Europe's central banks pumped huge amounts of cash into markets today as stock exchanges dove and interbank lending slowed to a trickle. Just after midday in London, the FTSE 100 was down by nearly 2%, with investment banks and insurers leading declines. The Bank of England injected $35.8 billion... More »

MORE ABOUT:
Lehman Brothers • European Central Bank • FTSE 100 • bear market • European markets • Bank of England • Libor

1 - 20 of 32 Stories | 1 2 Next >>


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