Latest news with #EuropeanCentralBankExecutiveBoard
Business Times
08-06-2025
- Business
- Business Times
ECB's Schnabel says now is right time to boost role of euro
[DUBROVNIK] European Central Bank Executive Board member Isabel Schnabel sees a favourable moment now to strengthen the euro's global role as investors turn to Europe. There is a 'window of opportunity' to increase the international role of the euro, she said in a question to a panel at the 31st Dubrovnik Economic Conference on Saturday (Jun 7). Earlier at the same conference, she said that there are signals that investors are focusing on the continent to diversify their portfolios, calling it a 'positive confidence effect.' The remarks reinforce comments from policymakers including president Christine Lagarde and show how officials are seeking to turn President Donald Trump's attacks on global trade and US institutions to their advantage. Investors have rushed out of the US dollar so far this year, with the greenback falling against every other major currency tracked by Bloomberg. At the end of May, Lagarde said that Trump's erratic policies offer a 'prime opportunity' to strengthen the euro's role and allow the currency bloc to enjoy more of the privileges so far reserved for the US dollar. The changes 'create the opening for a 'global euro moment,'' that politicians should seize, she said. Schnabel on Saturday referred to talks with financial market actors showing that investors are becoming more interested in diversifying and 'moving a bit into Europe – again, great news.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up She said that this is also due to expected higher public spending in Europe in defence and infrastructure. 'In the case of Germany, which has a lot of fiscal space, actually also investors saw it very positively that finally Germany gave up on its austerity,' she said. Schnabel highlighted that more investment into Europe ease financial conditions and lowers fragmentation – 'which is another very positive effect.' In recent weeks, Schnabel has emphasised the need for a big European bond market to strengthen the euro's global role and suggested considering joint debt to finance public goods in Europe. Commenting in an interview with El Pais published on Sunday, Spain's central bank chief Jose Luis Escriva also highlighted that 'the US dollar's dominance as an international reserve currency seems to be peaking.' 'The euro has the potential to compete with the US dollar, especially if it maintains its macroeconomic and institutional stability,' he said. 'With a strong economy and a trade volume larger than that of the US, Europe has room to strengthen the euro's role as a reserve and reference currency in an international trade still dominated by the US dollar.' BLOOMBERG
Bloomberg
15-05-2025
- Business
- Bloomberg
ECB's Elderson Warns Against Scaling Back ESG Rules Too Much
European Central Bank Executive Board member Frank Elderson warned against excessively reducing the ESG reporting and regulatory burden on European companies. 'Reporting requirements in the European Union's sustainable-finance framework are not something 'nice to have,' but a solution to a problem: to improve the availability of reliable and comparable data,' Elderson said Thursday.
Bloomberg
29-04-2025
- Business
- Bloomberg
ECB's Cipollone Sees Tariffs Likely Disinflationary Short Term
European Central Bank Executive Board member Piero Cipollone said US trade levies could weigh on euro-zone inflation in the near term as they drag down economic expansion around the world. 'The short to medium-term effects may even prove disinflationary for the euro area, where real rates have increased and the euro has appreciated following US tariff announcements,' Cipollone told a conference Tuesday in Frankfurt.
Yahoo
12-02-2025
- Business
- Yahoo
ECB's Elderson Says Data More Important Than Neutral for Policy
(Bloomberg) -- European Central Bank Executive Board member Frank Elderson said that incoming economic data is more important for setting monetary policy than the neutral rate of interest. Saudi Arabia's Neom Signs $5 Billion Deal for AI Data Center Nice Airport, If You Can Get to It: No Subway, No Highway, No Bridge The Forgotten French Architect Who Rebuilt Marseille Sin puente y sin metro: el nuevo aeropuerto de Lima es una debacle In New Orleans, an Aging Dome Tries to Stay Super Echoing other ECB officials who also say neutral — a theoretical level than neither stimulates nor restricts economic activity — is of limited use, Elderson said it's 'not such a good guide to short-term policy decisions.' 'It is an important concept to understand the likely long run average interest rate,' he told an event Wednesday organized by MNI. But amid elevated global volatility, 'our time I think is actually best spent understanding how these shocks will affect inflation as opposed to where precisely the natural rate is located.' Elderson also said: 'We are delivering on our price-stability objective. We see a convergence to our target as we want to see it' 'We still subscribe to the view that the conditions for a strengthening of activity remain in place for 2025' 'Over the medium term, a tighter US monetary policy tends to be disinflationary also for the euro area' Why Fast Food Could Be MAHA's Next Target Trump's Tariffs Make Currency Trading Cool Again After Years of Decline The Game Changer: How Ely Callaway Remade Golf Trump Promised to Run the Economy Hotter. His Shock and Awe May Have a Chilling Effect Orange Juice Makers Are Desperate for a Comeback ©2025 Bloomberg L.P. Sign in to access your portfolio
