June 28, 2004 |
The European Central Bank probably will keep its benchmark interest rate at 2% for a 13th month to give the economy of the dozen euro nations time to pick up pace, economists surveyed by Bloomberg News said. The euro economy grew an export-led 0.6% in the first quarter. While that's the fastest pace in three years, it contrasts with 1% achieved in the U.S. and 1.5% in Japan. Increasing sales abroad have yet to prompt companies to hire, damping consumer confidence.
July 6, 2007 |
The Bank of England raised its benchmark interest rate to a six-year high Thursday, and the European Central Bank signaled that it might follow suit in coming months. Borrowing costs are increasing globally as central banks, especially those in Europe, fight inflation fueled by the world economy's best performance in at least three decades.
September 3, 2004 |
The European Central Bank on Thursday gave an upbeat assessment of the euro-zone economy's growth prospects, saying the expansion should continue despite higher energy costs. Unlike the also optimistic U.S. Federal Reserve, however, the European bank has yet to begin tightening credit: At a meeting, the ECB left its key short-term interest rate unchanged at 2%, where it has been for 15 months. The Fed, by contrast, has raised its key interest rate twice this year. The rate now is 1.5%.
April 12, 2001 |
Europe's common currency fell sharply Wednesday but later rebounded after the European Central Bank defied expectations and held interest rates steady. The euro initially tumbled to one-week lows, extending declines made a day earlier, after the ECB announced that it kept euro zone rates unchanged at 4.75%. The ECB is the only major central bank that has not cut rates in response to the looming global economic slowdown, and most analysts had expected a modest quarter-point cut.
June 9, 2000 |
The European Central Bank, in a surprise move, ordered an aggressive half-point rise in its key short-term interest rate Thursday, and signaled that economic revival in Europe might mean more rate hikes ahead. Lifting its key rate to 4.25% from 3.75%, the ECB said it acted to address risks of inflation stemming from strong money and credit expansion and accelerating economic growth. Like the U.S. Federal Reserve, which on May 16 raised its key rate a half-point to 6.
December 19, 2007 |
Stocks climbed Tuesday for the first time in three days as investors found solace in the European Central Bank's injection of $500 billion into the financial system. The bank's massive move, which came a day after the Federal Reserve auctioned off $20 billion in 28-day loans to U.S. banks, supported the idea that the world's financial authorities were working to revive demand in struggling areas of the credit market.
August 8, 2011 |
After 21 months of battling to deal with their own economic problems, Europeans watched Monday as their financial woes at home were aggravated by trouble from abroad. The aftershock from the downgrading of America's credit rating Friday sent the continent's stock markets tumbling, despite hints that the bad news from the other side of the Atlantic may have begun to galvanize Europe's dithering leaders into concerted action. After a series of late night negotiations over the weekend, the European Central Bank made good Monday on its promise to begin buying bonds of Spain and Italy, big economies whose debt levels have prompted growing questions.
September 9, 2011 |
The sudden resignation Friday of a key member of the European Central Bank aggravated a sense of disarray over how to rescue the continent's debt-laden countries, adding to gloomy economic news out of Europe that hammered global stock markets and sent the euro currency plunging. German economist Juergen Stark said he was quitting his post on the central bank's policy committee, a move widely seen as a repudiation of the bank's strategy of purchasing government bonds from heavily indebted countries such as Italy and Spain in order to keep their borrowing costs down.
June 29, 2012 |
European Union leaders meeting in Brussels surprised and impressed markets worldwide Friday by taking unexpectedly decisive action to boost confidence in the struggling euro common currency and committing to stronger economic and political integration over the next few years. Expectations had been low that the 27 EU presidents and prime ministers would do more than highlight the deep divisions between heavily indebted nations mired in recession - such as Italy, Spain and Greece - and the bloc's economic powerhouse, Germany.