Latest news with #YannisStournaras
Bloomberg
2 hours ago
- Business
- Bloomberg
ECB's Stournaras Says Stable EU Policy Draws Investors to Euro
European Central Bank Governing Council member Yannis Stournaras said the US's unpredictable behavior on tariffs is undermining the dollar's status as the global reserve currency and is an opportunity for the euro, according to an interview in Handelsblatt. 'The US is turning global trade rules upside down by attempting to drastically reduce imports through tariffs,' he was cited as saying. In contrast, 'the euro area's heads state and government are committed to stability, free markets, democracy and the rule of law.'
Yahoo
3 days ago
- Business
- Yahoo
ECB Is in Good Position on Rates, Lagarde Tells Monaco Info
(Bloomberg) -- The latest interest-rate moves primes the European Central Bank to meet its medium-term inflation goal, President Christine Lagarde told television station Monaco Info. Next Stop: Rancho Cucamonga! Where Public Transit Systems Are Bouncing Back Around the World ICE Moves to DNA-Test Families Targeted for Deportation with New Contract US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Trump Said He Fired the National Portrait Gallery Director. She's Still There. 'We think we have really reached a good position,' she said in an interview broadcast Saturday, adding that the latest olicy decision was 'well calibrated.' Speaking on the sidelines of an event on oceans, Lagarde said that policymakers will be attentive to incoming data 'to know if we need to adjust or not adjust' borrowing costs. 'But I think we are currently well positioned to face moments that will be delicate and very uncertain.' After an eight rate reduction in a year and a total easing of 200 basis points, the cutting campaign is nearing an end, Lagarde has said after the latest decision on Thursday. The ECB is now 'in a good position' to deal with uncertainties ahead, not least due to US trade policies, she said. Officials from across the hawk-dove-spectrum have echoed that the recent cycle is almost, if not completely over. Greece's Yannis Stournaras, one of the most dovish policymakers, told Bloomberg on Friday that the bar for more cuts is 'high,' while more hawkish Boris Vujcic from Croatia said Saturday the ECB is 'nearly done.' The ECB's projections published Thursday foresee inflation to slow to 1.6% in 2026, before returning to 2% in 2027, matching the institution's medium-term target. Growth is expected to strengthen over the forecast horizon. Lagarde also said in the interview that 'the euro is doing well,' adding that the ECB's monetary policy has allowed officials to tame inflation from a peak of more than 10% to the 2% level that is the central bank's target. 'I think we are well calibrated to reach this medium-term goal,' she said. Speaking in a separate interview with TV Monaco, Lagarde said while the ECB's most recent economic projections don't take into account a scenario of 50% tariffs on European goods shipped to the US, such a level 'would be rather disastrous for international trade.' (Updates with comment on trade in final paragraph) Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Is Elon Musk's Political Capital Spent? What Does Musk-Trump Split Mean for a 'Big, Beautiful Bill'? ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
4 days ago
- Business
- Bloomberg
ECB's Stournaras Says Rate Cuts 'Nearly Done'
Bank of Greece Governor and European Central Bank Governing Council member Yannis Stournaras discusses monetary policy, currency markets and cross-border banking transactions. "The best thing is wait and see,' Stournaras tells Bloomberg Television. 'It's nearly done but with such uncertainty worldwide you can never say it's done.' (Source: Bloomberg)
Reuters
4 days ago
- Business
- Reuters
ECB's Stournaras: Another rate cut dependent on economy weakening further
ATHENS, June 6 (Reuters) - If the European economy weakens further then the European Central Bank might cut interest rates again, policymaker Yannis Stournaras told Bloomberg TV in an interview on Friday, adding that "this is not expected". The ECB cut rates for the seventh time in a row on Thursday to prop up a euro zone economy that was struggling even before erratic U.S. economic and trade policies dealt it further blows. "If the economy weakens more, if inflation falls in the medium-term sustainably below 2% then we might cut, but this is not expected," said Stournaras. Most ECB policymakers back keeping interest rates, now at 2%, on hold at their next gathering in July, or possibly longer, depending in part on the prospects for trade with the United States, sources told Reuters. Stournaras said that the best thing for now is a wait-and-see stance. "We are keeping options open, meeting by meeting, data dependent," he said.
Bloomberg
4 days ago
- Business
- Bloomberg
ECB Should Take Timeout With Cuts ‘Nearly Done,' Stournaras Says
The European Central Bank should take a break from lowering interest rates to give officials a chance to assess recent shocks, particularly from trade, according to Governing Council member Yannis Stournaras. 'Now the best thing is wait and see,' the Greek central-bank chief told Bloomberg Television. 'It's nearly done but with such uncertainty worldwide you can never say it's done.'
