Speculation is rising that the cash-strapped Greek government is nearing an agreement with officials from the European Union, International Monetary Fund and European Central Bank on then next round of bailout financing.
The European Central Bank will not let Lorenzo Bini Smaghi be forced off its executive board and expects him to leave only if he is asked to head the Bank of Italy when Mario Draghi becomes ECB president in November, ECB sources have told Reuters.
The idea that a Greek debt restructuring could be carried out in an orderly way is a fairytale, European Central Bank board member Lorenzo Bini Smaghi said in an interview published on Monday.
The idea that a Greek debt restructuring could be carried out in an orderly way is a fairytale, European Central Bank board member Lorenzo Bini Smaghi told the Financial Times in an interview published on Monday.
Financial markets will remain skeptical that Spain can steer clear of the crisis until the country manages to finish its reform of the labor market, a senior European Central Bank policymaker said in an interview.
The equivocal, baby step rhetoric of the SNB - together with Swiss exporters' reluctance to give up the benefits of a weaker Swiss Franc - suggest that we shouldn't expect Switzerland either to race away from the bottom just yet.
Amidst growing fears that cash-strapped Greece will likely default on its huge debt, one major foreign voice has declared that Athens may have no choice other than to restructure its debt.
The European Central Bank must guard against steep oil price gains filtering through to broader inflation, an ECB policymaker said on Monday, adding that rising long-term inflation expectations must be taken seriously.
In March 2010, we predicted that gold demand in China would double by 2020, however, we believe that this doubling may in fact be achieved sooner. Increasing prosperity in the world's most populous country coupled with their high affinity for gold will serve to drive demand in the long-term.
Restructuring of sovereign debt in Greece would make it impossible for the European Central Bank to continue using its bonds as collateral in liquidity operations, Executive Board member Juergen Stark said.
The International Monetary Fund’s (IMF) chief official responsible for Greece has warned the debt-stricken country must take even more austerity measures in order to reduce its massive budget deficit.
Spot Gold prices rallied against all major currencies on Wednesday morning, hitting $1491 per ounce and rising 1.2% from yesterday's eight-day low as stock and commodity markets also gained.
A soft restructuring of Greece's sovereign debt is not on the cards, European Central Bank Governing Council member Ewald Nowotny told Austrian radio, insisting Greece take the lead on shoring up its finances.
As Dominique Strauss-Kahn’s continued role as boss of the International Monetary Fund (IMF) appears doomed following his arrest on charges of rape in New York over the weekend, speculation grows on who will ultimately succeed him.
Energy costs pushed up euro zone inflation in April, but core prices jumped as well, confirming ECB concerns about rising inflationary risks and adding to the case for more interest rate hikes.
Greece seems not to have met terms of its international rescue package recently, European Central Bank Governing Council member Ewald Nowotny was quoted as saying on Friday.
Thursday's London Silver Fix set the white metal's price at $32.50 per ounce, nearly $7 lower than a day earlier and 33% below the 31-year high of $48.70 set on April 28. [Silver] is still in an uptrend, despite the sharp sell-off reckons Mary Ann Bartels, head of US technical and market analysis at Bank of America Merrill Lynch, who said yesterday silver could hit $50 per ounce by the end of the year.
A Greek debt restructuring would have dire consequences, ECB policymakers warned, with one suggesting the bank would be unlikely to help the euro zone recover from the shock by delaying interest rate hikes.
The price of crude oil plummeted almost 9 percent to finish below $100 per barrel – the largest one-day percentage drop in more than two years – on growing worries about the U.S. economy.
European Central Bank President Jean-Claude Trichet signaled on Thursday that euro zone interest rates are unlikely to rise next month but left the door firmly open for an increase in July.
The European Central Bank kept euro zone interest rates on hold as expected on Thursday leaving markets focused on whether Jean-Claude Trichet will flag a June hike by declaring the bank is in a state of strong vigilance.
The European Central Bank will show its determination to check firming price pressures at its meeting on Thursday with markets focusing on whether it uses the strong vigilance codewords to signal a rate rise in June.
