ECB begins great cash mop-up as banks repay 296 bln euros of loans

ECB begins great cash mop-up as banks repay 296 bln euros of loans

Repayment much lower than expected Key money-market rate falls after announcement Move seen as first step towards bond unwind FRANKFURT, Nov 18 (Reuters) – Euro zone banks are set to repay nearly 300 billion euros ($310 billion) in loans to the European Central Bank next week, the ECB said on Friday, the biggest cash withdrawal … Read more

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON/LONDON, Aug 1 (Reuters) – Factories across the United States, Europe and Asia struggled for momentum in July … Read more

ECB hikes rates more than flagged in race to tame inflation

ECB hikes rates more than flagged in race to tame inflation

All rates rise by 50 basis points Inflation to stay ‘undesirably’ high ECB backs ‘anti-fragmentation’ tool called TPI ECB ‘can go big’ on that, Lagarde says FRANKFURT, July 21 (Reuters) – The European Central Bank raised interest rates by more than expected on Thursday as concerns about runaway inflation trumped worries about growth, even while … Read more