Latest news with #Frankfurt-based
Yahoo
a day ago
- Business
- Yahoo
Tokenized Securities Trading Venue 21X Adds Circle's USDC Stablecoin
Frankfurt-based 21X, a venue for trading tokenized stocks, bonds and funds regulated by Germany's financial watchdog BaFin, has integrated Circle's USDC stablecoin as a key settlement currency on the platform. The USDC integration is part of 21X's mission to build a multi-currency, MiCA-aligned, open market environment for institutional trading of tokenized securities, the company said on Monday. Tokenization is where traditional finance dips its toe into the public cryptocurrency arena. Circle, which is soon to list on the New York Stock Exchange, is the obvious choice when it comes to an issuer of stablecoins for a highly regulated European utility like 21X. With USDC available on 21X's market infrastructure, users will benefit from wallet-based, atomic settlement of a diverse range of tokenized instruments, including equities, bonds, and fund instruments - all denominated in USD, 21X said in a press release. 'Circle is deeply committed to supporting regulated infrastructure that fosters trust and transparency in digital asset markets,' said Sanja Kon, vice president for Europe at Circle. 'Making USDC available to settle tokenized securities on 21X - Europe's first DLT exchange - will drive the adoption of on-chain finance, and foster more efficient and accessible capital markets.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
France 24
2 days ago
- Business
- France 24
ECB expected to cut rates again as Trump trade war rumbles on
Even before Trump unleashed his on-off tariff onslaught on the world, the ECB had been bringing borrowing costs down as inflation eased. Worries about sluggish performance in the 20 countries that use the euro have increasingly overshadowed inflation concerns as higher rates have pinched businesses and households. Trump's tariffs have added to the sense of urgency. Europe is in the president's crosshairs over its hefty surplus in traded goods with United States, stoking fears about a heavy hit to the continent's exporters. Predicting a cut when the ECB's governing council meets Thursday, HSBC said the eurozone's "near-term outlook has deteriorated on the recent US tariffs announcements and related uncertainty". Analysts expect another quarter-point reduction that would take the Frankfurt-based institution's key deposit rate to two percent. But observers believe the June cut could be the final one in the current streak, with the ECB likely to pause at its next meeting in July to take stock of the latest economic developments. The ECB's series of cuts stands in contrast to the US Federal Reserve, which has kept rates on hold recently amid fears that Trump's levies could stoke inflation. Global order 'fracturing' Trump has already hit the EU with multiple waves of tariffs -- it currently faces a 10-percent "baseline" levy as well as 25-percent duties on cars, steel and aluminium. He has paused even higher rates on the EU and other trading partners to allow for talks, momentarily easing some of the tensions that had roiled global markets. But in a sign the trade war may be far from over, he threatened last month to swiftly impose a 50-percent tariff on the EU -- only to delay the move a few days later to July 9. Highlighting the alarm felt in Europe, ECB President Christine Lagarde said last week that the global economic order backed by US leadership was "fracturing". "Multilateral cooperation is being replaced by zero-sum thinking and bilateral power plays," she said in a speech in Berlin. But the ECB faces a tricky task in protecting the eurozone from the mercurial US president's trade policies while keeping inflation stable. Euro-area inflation was 2.2 percent in April, slightly above the ECB's two-percent target and higher than expected. May's inflation estimate will be published by Eurostat on Tuesday ahead of the ECB meeting. But most recent signs suggest price pressures are easing faster than previously thought, and the ECB is expected to cut its inflation predictions when it releases its own new economic forecasts Thursday. Downward pressure Most analysts expect Trump's tariffs to add to downward pressure on eurozone inflation, particularly as it might lead China -- facing the highest US levies -- to redirect inexpensive manufactured goods to Europe. The ECB is expected to cut its growth estimates Thursday due to the impact of the trade war, after the EU slashed its forecasts last month. While investors will be on the lookout for any clues from Lagarde about the ECB's next move, analysts warn that heightened uncertainty means she will give little away. The meeting will likely also produce questions over the future next moves for Lagarde. The former head of the World Economic Forum Klaus Schwab told The Financial Times last week that he had spoken with Lagarde about her taking over as head of the organisation. The ECB brushed away the rumours, saying Lagarde was "determined" to see out her term at the helm of the central bank.
Time of India
2 days ago
- Business
- Time of India
ECB set for 7th rate cut again as Donald Trump trade war rumbles on
The European Central Bank is likely to announce its seventh consecutive interest rate cut this week as the eurozone economy struggles under slowing inflation and uncertainty fueled by US President Donald Trump 's shifting trade policies. Prior to Trump's fluctuating tariff impositions globally, the ECB had been reducing borrowing costs in response to declining inflation rates. Concerns about economic performance in the 20 euro-using nations have become more prominent than inflation worries, as elevated rates have affected both commercial entities and consumers. The impact of Trump's tariffs has created additional pressure. Europe faces scrutiny due to its substantial trade surplus with the United States, raising concerns about potential negative effects on European exporters. HSBC anticipates a rate reduction at Thursday's ECB governing council meeting, citing the eurozone's deteriorated short-term outlook following recent US tariff announcements. Financial experts anticipate another quarter-point decrease, which would adjust the Frankfurt-based institution's primary deposit rate to two percent. However, specialists suggest this June reduction might conclude the current sequence, with the ECB likely taking a pause in July to evaluate recent economic trends. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The ECB's reduction strategy contrasts with the US Federal Reserve's approach, which has maintained steady rates amid concerns about Trump's tariffs potentially increasing inflation. The EU currently faces multiple tariff levels from Trump's administration, including a 10-percent baseline rate and 25-percent duties on vehicles, steel and aluminium. Trump has temporarily suspended higher tariffs on the EU and other trading partners during negotiations, temporarily reducing market tensions. However, indicating ongoing trade tensions, he recently threatened a 50-percent tariff on the EU, before postponing the decision to July 9. ECB President Christine Lagarde expressed concern in Berlin, stating that the US-led global economic structure was "fracturing". The ECB faces challenges in safeguarding the eurozone from Trump's unpredictable trade policies while maintaining stable inflation. Eurozone inflation reached 2.2 percent in April, marginally exceeding the ECB's two-percent target. Eurostat will release May's inflation figures on Tuesday before the ECB meeting. Recent indicators suggest faster-than-anticipated reduction in price pressures, and the ECB is likely to revise its inflation forecasts downward on Thursday. Analysts generally believe Trump's tariffs will further decrease eurozone inflation, particularly as China might redirect low-cost products to Europe to avoid US duties. The ECB is expected to reduce growth projections on Thursday due to trade war effects, following the EU's recent forecast reductions. While markets await Lagarde's guidance about future ECB actions, analysts suggest current uncertainties will limit detailed revelations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Times
2 days ago
- Business
- Business Times
ECB expected to cut rates again as Trump trade war rumbles on
[FRANKFURT] The European Central Bank (ECB) is expected to deliver its seventh-straight interest rate cut this week as US President Donald Trump's volatile trade policies add to headwinds for the sluggish eurozone. Even before Trump unleashed his on-off tariff onslaught on the world, the ECB had been bringing borrowing costs down as inflation eased. Worries about sluggish performance in the 20 countries that use the euro have increasingly overshadowed inflation concerns as higher rates have pinched businesses and households. Trump's tariffs have added to the sense of urgency. Europe is in the US president's crosshairs over its hefty surplus in traded goods with the United States, stoking fears about a heavy hit to the continent's exporters. Predicting a cut when the ECB's governing council meets on Thursday (Jun 5), HSBC said the eurozone's 'near-term outlook has deteriorated on the recent US tariffs announcements and related uncertainty'. Analysts expect another quarter-point reduction that would take the Frankfurt-based institution's key deposit rate to 2 per cent. 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 But observers believe the June cut could be the final one in the current streak, with the ECB likely to pause at its next meeting in July to take stock of the latest economic developments. The ECB's series of cuts stands in contrast to the US Federal Reserve, which has kept rates on hold recently amid fears that Trump's levies could stoke inflation. Global order 'fracturing' Trump has already hit the EU with multiple waves of tariffs – it currently faces a 10 per cent 'baseline' levy as well as 25 per cent duties on cars, steel and aluminium. He has paused even higher rates on the EU and other trading partners to allow for talks, momentarily easing some of the tensions that had roiled global markets. But in a sign the trade war may be far from over, he threatened last month to swiftly impose a 50 per cent tariff on the EU – only to delay the move a few days later to Jul 9. Highlighting the alarm felt in Europe, ECB president Christine Lagarde said last week that the global economic order backed by US leadership was 'fracturing'. 'Multilateral cooperation is being replaced by zero-sum thinking and bilateral power plays,' she said in a speech in Berlin. But the ECB faces a tricky task in protecting the eurozone from the mercurial US president's trade policies while keeping inflation stable. Euro-area inflation was 2.2 per cent in April, slightly above the ECB's 2 per cent target and higher than expected. May's inflation estimate will be published by Eurostat on Tuesday ahead of the ECB meeting. But most recent signs suggest price pressures are easing faster than previously thought, and the ECB is expected to cut its inflation predictions when it releases its own new economic forecasts on Thursday. Downward pressure Most analysts expect Trump's tariffs to add to downward pressure on eurozone inflation, particularly as it might lead China – facing the highest US levies – to redirect inexpensive manufactured goods to Europe. The ECB is expected to cut its growth estimates on Thursday due to the impact of the trade war, after the EU slashed its forecasts last month. While investors will be on the lookout for any clues from Lagarde about the ECB's next move, analysts warn that heightened uncertainty means she will give little away. The meeting will likely also produce questions over the future next moves for Lagarde. The former head of the World Economic Forum Klaus Schwab told The Financial Times last week that he had spoken with Lagarde about her taking over as head of the organisation. The ECB brushed away the rumours, saying Lagarde was 'determined' to see out her term at the helm of the central bank. AFP
Hindustan Times
2 days ago
- Business
- Hindustan Times
ECB expected to cut rates again as Trump trade war rumbles on
The European Central Bank is expected to deliver its seventh-straight interest rate cut this week as US President Donald Trump's volatile trade policies add to headwinds for the sluggish eurozone. Even before Trump unleashed his on-off tariff onslaught on the world, the ECB had been bringing borrowing costs down as inflation eased. Worries about sluggish performance in the 20 countries that use the euro have increasingly overshadowed inflation concerns as higher rates have pinched businesses and households. Trump's tariffs have added to the sense of urgency. Europe is in the president's crosshairs over its hefty surplus in traded goods with United States, stoking fears about a heavy hit to the continent's exporters. Predicting a cut when the ECB's governing council meets Thursday, HSBC said the eurozone's "near-term outlook has deteriorated on the recent US tariffs announcements and related uncertainty". Analysts expect another quarter-point reduction that would take the Frankfurt-based institution's key deposit rate to two percent. But observers believe the June cut could be the final one in the current streak, with the ECB likely to pause at its next meeting in July to take stock of the latest economic developments. The ECB's series of cuts stands in contrast to the US Federal Reserve, which has kept rates on hold recently amid fears that Trump's levies could stoke inflation. Trump has already hit the EU with multiple waves of tariffs it currently faces a 10-percent "baseline" levy as well as 25-percent duties on cars, steel and aluminium. He has paused even higher rates on the EU and other trading partners to allow for talks, momentarily easing some of the tensions that had roiled global markets. But in a sign the trade war may be far from over, he threatened last month to swiftly impose a 50-percent tariff on the EU only to delay the move a few days later to July 9. Highlighting the alarm felt in Europe, ECB President Christine Lagarde said last week that the global economic order backed by US leadership was "fracturing". "Multilateral cooperation is being replaced by zero-sum thinking and bilateral power plays," she said in a speech in Berlin. But the ECB faces a tricky task in protecting the eurozone from the mercurial US president's trade policies while keeping inflation stable. Euro-area inflation was 2.2 percent in April, slightly above the ECB's two-percent target and higher than expected. May's inflation estimate will be published by Eurostat on Tuesday ahead of the ECB meeting. But most recent signs suggest price pressures are easing faster than previously thought, and the ECB is expected to cut its inflation predictions when it releases its own new economic forecasts Thursday. Most analysts expect Trump's tariffs to add to downward pressure on eurozone inflation, particularly as it might lead China facing the highest US levies to redirect inexpensive manufactured goods to Europe. The ECB is expected to cut its growth estimates Thursday due to the impact of the trade war, after the EU slashed its forecasts last month. While investors will be on the lookout for any clues from Lagarde about the ECB's next move, analysts warn that heightened uncertainty means she will give little away. The meeting will likely also produce questions over the future next moves for Lagarde. The former head of the World Economic Forum Klaus Schwab told The Financial Times last week that he had spoken with Lagarde about her taking over as head of the organisation. The ECB brushed away the rumours, saying Lagarde was "determined" to see out her term at the helm of the central bank. sr/sea/rmb/dhw HSBC HOLDINGS
