TAG: central banking
ECB signals historic break from QE era with new operating framework
The European Central Bank outlined major changes to the way it works on Wednesday, aiming to scale down its presence in financial markets after 15 years of emergency measures.During the financial crisis, the ECB took up a far more active role in European...
6 months ago
ECB tells staff: If you’re not green, you’re not wanted
FRANKFURT ― A top European Central Bank official stunned employees by saying people who don’t buy into the institution’s green objectives aren’t welcome to work there.Frank Elderson, one of six members of the ECB’s executive board, told an internal meetin...
6 months ago
Staff accuse ECB of gaming survey to limit negative feedback
FRANKFURT — The European Central Bank's latest staff survey is set to paint a much rosier picture of life at headquarters than last year's — not because things have gotten so much better, but because awkward questions that risk embarrassing the Bank have...
5 months ago
The MEPs who actually matter
This article is part of the Brussels Survival Guide.There’s plenty to pay attention to in the new cohort entering the European Parliament — including, of course, the people. See below our guide on key figures across the policy palette.Céline Imart AGRICUL...
2 months ago
Maltese central bank chief defies calls to resign amid sprawling corruption case
Maltese central bank chief Edward Scicluna pushed back against growing calls to resign after a court ruled Wednesday that he will have to stand trial in connection with a 2015 deal that has implicated swathes of the island nation’s elite.“I will abide by...
2 months ago
Lagarde to skip G20 to feel the Olympic buzz in Paris
Who can resist the unique buzz of the world's grandest athletic spectacle and the glamor of its opening night? Not Christine Lagarde, by the looks of it. The European Central Bank President is set to skip the G20 meeting of finance ministers and central b...
2 months ago
US political uncertainty crashes central bank retreat in Portugal
SINTRA, Portugal — When Europe’s most powerful technocrats gathered this week at a secluded mountain resort near Lisbon to discuss their deepest concerns, you'd have expected them to focus on the election in nearby France. But instead their gaze was fixed...
2 months ago
Survey reveals surge in burnout and suicidal thoughts among ECB staff
FRANKFURT — The number of European Central Bank staff suffering burnout symptoms has risen sharply since 2021, with the proportion of employees harboring suicidal thoughts up by 50 percent over four years, an independent survey commissioned by its staff c...
2 months ago
The dirty little secret no politician will admit: There is no way to ‘go for growth’
Investment professionals and politicians who spurned Liz Truss's “go for growth” strategy for the British economy are slowly waking up to an uncomfortable truth.The former U.K. Prime Minister's plan, which relied on unfunded tax cuts that were perceived t...
2 months ago
Switzerland cuts key interest rate again as EU turmoil sends franc surging
The Swiss National Bank cut its key interest rate again, taking the edge off a franc that has been surging in response to European political uncertainty.A second successive cut of 0.25 percentage point cut leaves the SNB’s policy rate at 1.25 percent and...
2 months ago
Alan Taylor appointed to BoE’s Monetary Policy Committee, succeeding Jonathan Haskel
The U.K. government has appointed Alan Taylor to succeed Jonathan Haskel as an external member of the Bank of England’s Monetary Policy Committee.Wakefield-born Taylor is currently Professor of International and Public Affairs at Columbia University in Ne...
2 months ago
Donald Tusk’s battle to oust Polish central bank boss hits hurdle
Polish Prime Minister Donald Tusk's bid to get rid of the country's central bank chief has run into trouble. Poland's top constitutional court ruled Tuesday that a parliamentary effort to try the governor of the National Bank of Poland, Adam Glapiński, be...
1 month ago
UniCredit buys Commerzbank stake from Berlin in breakthrough deal
The biggest European bank merger in years could be in the works, after Italy’s UniCredit seized a rare opportunity to expand its presence in the continent’s biggest market.The Milan-based institution said on Wednesday it had bought a 9 percent stake in Co...
1 month ago
ECB to cut rates again as economic outlook sours
The European Central Bank is set to cut interest rates on Thursday as souring economic prospects force it to abandon an approach that many of its top brass now see as too cautious.Financial markets have now almost fully priced in a quarter-point rate cut...
4 days ago