BERLIN (AP) — The European Central Bank said Monday that it plans to redesign its euro banknotes, with a final decision on the new look expected in 2024.
The euro was introduced in cash form in 2002, with banknotes based on what the Frankfurt-based central bank for the 19-nation euro area calls an “ages and styles” theme — with generic windows, doorways and bridges from various eras that don't represent any specific place or monument.
FRANKFURT, Germany (AP) — The head of the European Central Bank warned that high oil and gas prices are hitting consumers in the 19 countries that use the euro harder than in other major economies and underlined that the bank won't add to the squeeze by raising interest rates anytime soon.
FRANKFURT, Germany (AP) — The European Central Bank decided Thursday to keep its pandemic stimulus efforts unchanged even as consumer prices spike and central banks in other parts of the world look to dial back support as their economies bounce back from the worst of the COVID-19 outbreak.
FRANKFURT, Germany (AP) — Deutsche Bank saw its net profit increase 6%, to 329 million euros ($381 million), in the third quarter despite a sharp increase in restructuring costs. The bottom line at Germany's largest bank benefited from fewer loans going bad as the economy rebounds from the coronavirus pandemic and credit support from governments and the European Central Bank.
BERLIN (AP) — The head of Germany's central bank announced Wednesday that he will step down after a decade at the helm, removing a key hawkish voice from the European Central Bank’s governing council.
FRANKFURT, Germany (AP) — Sharply higher oil and gas prices have pushed annual inflation in the 19 countries that use the euro to its highest in more than a decade in September. Economists and central bankers say the jump in inflation is temporary, but governments nonetheless are scrambling to ease the pain of higher household utility bills.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday defended the ultra-low interest rate policies he has pursued since the pandemic decimated the economy more than 18 months ago.
But he acknowledged inflation has stayed higher for longer than he expected.
FRANKFURT, Germany (AP) — Europe's current burst of inflation is temporary and won't lead the European Central Bank to “overreact” by withdrawing stimulus or raising interest rates, ECB President Christine Lagarde said Tuesday.
FRANKFURT, Germany (AP) — The European Central Bank's first climate stress test shows higher risks of loan defaults for banks in fire-plagued southern Europe and argues that an earlier and orderly shift to greener energy may have costs — but pay off for the economy over the long run.
FRANKFURT, Germany (AP) — The European Central Bank will dial back some of its massive emergency pandemic support for the economy amid signs of increasing business activity and consumer readiness to spend as the 19 countries that use the euro rebound from the coronavirus recession.
BEIJING (AP) — Asian stock markets rose Tuesday as investors watched for decisions from central banks in Europe and elsewhere about when they might start to wind down economic stimulus.
Shares advanced in Shanghai, Tokyo and Hong Kong, which are the bulk of Asia's market capitalization.
FRANKFURT, Germany (AP) — Facing unease over the spread of a more-contagious variant of the coronavirus, the European Central Bank said it would maintain its stimulus in the form of ultra-low interest rates until inflation “durably” reaches its 2% target.
FRANKFURT, Germany (AP) — The European Central Bank has adopted a new approach to managing the economy that would tolerate transitory periods of consumer inflation moderately above its 2% goal — and take greater account of climate change in its forecasting and stimulus programs.
FRANKFURT, Germany (AP) — The European Central Bank left its key pandemic support for the economy running full blast even as the economy shows signs of recovery thanks to lower virus cases and fewer restrictions on activity in the 19 countries that use the euro currency.
BERLIN (AP) — The European Union on Wednesday launched proceedings against Germany over a ruling by the top German court last year on a European Central Bank bond-buying program that broke with a verdict from the EU's own top court.
FRANKFURT, Germany (AP) — The European Central Bank is expected to leave its stimulus efforts running at full steam Thursday — even as the economy shows signs of recovery thanks to the easing of pandemic restrictions.
FRANKFURT, Germany (AP) — Eurozone inflation rose to 2.0% in May, driven higher by rising oil prices as other inflationary pressures appeared to remain subdued.
The modest price rise in Europe compares with a much stronger jump in the US that has led to discussion about the inflationary impact of stimulus and relief policies from government spending and central banks.
FRANKFURT, Germany (AP) — The European Central Bank says risks to the stability of companies, banks and financial markets remain “elevated” due to the uneven impact of the pandemic on the economy, warning that the eventual removal of relief measures could lead to a surge in bankruptcies.