Jean-Claude Trichet Profile, Biography, About
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The European Central Bank is likely to keep interest rates on hold on Thursday but may offer clues on its policy path for next year with updated forecasts likely to present a grim outlook for the euro zone economy in 2013.
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In the view of a central banker, the worst thing about skyrocketing food and energy prices is not their rise, but that most people think higher prices are here to stay, the New York Times reported.
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Euro zone services and manufacturing activity both fell unexpectedly into contraction in June, a key survey showed on Monday, although the weakness may not be pronounced enough to deter an ECB rate hike in July.
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An online petition urging the European Central Bank not to raise interest rates in July is gaining ground, with people from France, Spain, Italy but also from English-speaking countries adding their signatures.
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The euro has been steadily gaining ground against the U.S. dollar over the past two years, up 22%. This week's Charting Asia takes a look at where the Euro/Dollar is heading.
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May's employment report will make or break the market's momentum Friday. Traders say if the 8:30 a.m. report is in line with expectations or even better-than-expected, watch for the rally to continue. If it's worse, stocks will give back some of Thursday's gains.
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The European Central Bank's inability to raise rates may mean the time for a jump back into the dollar has arrived, as the full effects of the credit crunch still have to be felt in Europe, analysts told CNBC.com.
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The European Central Bank's hawks must be aching to hike rates, but they will likely sit on their hands again and leave rates at 4 percent despite inflation rising to 3.6 percent in May.
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Sky-high fuel and food prices crashed the party when finance ministers flocked to Frankfurt to celebrate the inflation-fighting European Central Bank's 10th birthday on Monday, a milestone in Europe's monetary union.
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On the verge of the European Central Bank's 10th anniversary, the news on inflation doesn't look good. Against the bank's target of "below but close to" 2 percent, euro-zone prices rose 3.6 percent in May, compared with the year ago, back to a historic high, data showed on Friday.
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European Central Bank head Jean-Claude Trichet said on Monday that financial markets were experiencing an "ongoing correction" and repeated that the G7 was concerned about excessive dollar volatility.
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European Central Bank President Jean Claude Trichet warned on Monday that the end of the credit crunch was not yet in sight and the world was experiencing an "ongoing and very significant market correction."
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The European Central Bank left its key interest rate unchanged at 4 percent on Thursday, as widely expected, and its president Jean-Claude Trichet warned on inflation pressures.
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The European Central Bank will most likely do on Thursday what it has done every month since the credit crunch started last August: keep rates steady and talk tough on inflation.
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The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.
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The European Central Bank kept rates on hold at 4 percent, as expected, on Thursday, sticking to its mandate to fight inflation at any cost. Economists now think the possibility of monetary easing is more likely as late as the fourth quarter.
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Wall Street banks are the first to be blamed for the credit crunch. Central banks come a close second, but as the Federal Reserve's image is suffering, the European Central Bank looks as solid as a rock.
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The European Central Bank's mission to fight inflation prevents it from worrying about economic weakness. But an abrupt slowdown could anger politicians and endanger the central bank's very mandate.
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A look at the data and happenings that shaped the first quarter for European businesses and markets.
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After a dismal first quarter, investors look forward to what the spring has in store; but apart from a new gold rush and the euro rising further, there seems to be little to anticipate.
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The central banks of Britain and Switzerland added extra funds to ease pressure on high interbank lending rates on Thursday, while the European Central Bank said it was ready to step in with extra cash.