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European Central Bank

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  • Global Interest Rates Monday, 8 Dec 2008 | 8:44 AM ET

    The European Central Bank, Bank of England, and Sweden’s Ricksbank slashed their interest rates today in an effort to bolster access to credit while luring consumer spending.

  • Stimulus Won't Protect from Capital Flight: Strategist Wednesday, 26 Nov 2008 | 8:20 AM ET

    The European and U.S. stimulus plans are not going to help economies which are relying on wide current account deficits and which are now hemorrhaging capital, Ian Harnett, European strategist at Absolute Strategy Research, said Wednesday.

  • Europe to Stay in Recession 2 Years: Strategist Tuesday, 25 Nov 2008 | 3:12 AM ET

    The European economy will remain in recession for at least two years as companies slam the brakes on capital spending because of the financial crisis, Charles Cara, European equity strategist from Absolute Strategy Research, said.

  • Spanish Economy Contracts, 1st Time in 15 Years Friday, 14 Nov 2008 | 4:22 AM ET

    Spanish gross domestic product (GDP) fell 0.2 percent in the third quarter, sending the euro zone's fourth-largest economy into contraction for the first time in 15 years, the National Statistics Institute reported on Friday.

  • Euro Zone Already in 'Serious Recession': BofA Tuesday, 11 Nov 2008 | 6:02 AM ET

    The group of euro-member countries fell into "a serious recession in September" and economic contraction will continue through next year, pushing interest rates sharply lower, Bank of America said in a research note Tuesday.

  • Mohamed El-Erian, co-chief executive officer of Pacific Investment Management Co.

    President-Elect Barrack Obama should attend the upcoming summit of the G20 developing and industrialized countries in Brazil to show that the US has a truly international leader, Mohamed El-Erian, Co-CEO of Pimco, told CNBC Friday.

  • US Economy 'Has Fallen off a Cliff': El-Erian Friday, 7 Nov 2008 | 4:02 AM ET

    The nonfarm payrolls data may be even worse than the consensus estimate, as the U.S. economy is taking further blows from the financial crisis, Mohamed El-Erian, Co-CEO of Pimco, told CNBC Friday.

  • Dow Drops 10% in Two Days After Election Thursday, 6 Nov 2008 | 5:21 PM ET

    Blue chips logged their biggest two-day decline on record as worries about the economy gripped the market the minute the U.S. presidential election was over.  Weak outlooks from Cisco and Toyota, dismal October retail sales and the prospect of a very grim payrolls number tomorrow fueled the selloff today.

  • Dow Drops Over 400 Amid Economic Worries Thursday, 6 Nov 2008 | 3:20 PM ET

    Stocks continued to slide Thursday as worries about the economy -- and its impact on earnings -- outweighed enthusiasm for big rate cuts in Europe.

  • Global Interest Rates Drop, US Dollar Rises Thursday, 6 Nov 2008 | 12:28 PM ET

    Following rate cuts from the Fed, China and Japan last week, the Bank of England and European Central Bank slashed their key interest rates today.   Central Banks from around the world are modifying their monetary policies in a coordinated effort to contain the impact of the global financial crisis. 

  • Stocks Slide as Economic Woes Trump Rate Cuts Thursday, 6 Nov 2008 | 11:21 AM ET

    Stocks continued to slide Thursday as worries about the economy -- and its impact on earnings -- outweighed enthusiasm for big rate cuts in Europe.

  • Rate Cut Fails to Lift Futures Higher Thursday, 6 Nov 2008 | 9:20 AM ET

    Futures were poised to add to post-election losses, as intensified worries about the global economy outweighed a sharp Bank of England interest rate drop.

  • European Union finance ministers backed on Tuesday proposals for a reform of the G8 club of major industrial nations and an end to self-regulation in global financial markets that critics say caused the credit crisis.

  • World Recession Gloom Builds, Australia Cuts Rates Tuesday, 4 Nov 2008 | 12:57 AM ET
    Global Markets

    Australia slashed interest rates Tuesday, presaging cuts expected in Europe later this week in the face of mounting evidence that the global financial crisis has already pushed much of the world into a damaging recession.

  • Stop Trading!: Europe, Please Stand Up Wednesday, 29 Oct 2008 | 3:26 PM ET

    Investors could lose any gains seen in Tuesday's 889-point Dow rally if the ECB doesn't follow the Fed's lead.

  • Governments May Have Caused Stocks Selloff: Dr. Doom Monday, 27 Oct 2008 | 5:25 AM ET

    The wave of stock selloffs sweeping world markets may be partially caused by the fact that many governments increased guarantees for bank deposits, making them a much safer investment, Marc Faber, author of the "Gloom, Doom and Boom Report," told CNBC Monday.

  • IMF Chief Probed over Ties with Co-Worker Sunday, 19 Oct 2008 | 12:51 PM ET

    The International Monetary Fund has launched a probe into allegations of improper behavior in relation with a subordinate by its chief, Dominique Strauss-Kahn.

  • Printing Money = High Commodities Prices: Analyst Tuesday, 14 Oct 2008 | 6:58 AM ET

    Commodities will benefit the most from the coordinated bailouts because the plans are sowing the seeds of future poverty, fuelling an already raging inflationary fire, analyst Puru Saxena, CEO at Puru Saxena told CNBC on Tuesday.

  • Dow Logs Biggest One-Day Point Gain Ever Monday, 13 Oct 2008 | 4:48 PM ET

    Stocks bounced back from their worst week ever with one of their best performances in history as investors cheered a global cash infusion designed to unthaw the credit market and avoid a global meltdown.  The Dow gained more than 900 points, its biggest one-day point gain ever.

  • Dow on Track for Biggest Point Gain Ever Monday, 13 Oct 2008 | 3:48 PM ET

    Stocks bounced back from their worst week ever as investors cheered a series of measures and cash injections by governments and central banks designed to prop up the banking sector and avoid a global meltdown. The Dow was up nearly 500 points, or more than 5.5 percent.