The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Two top officials have tried to temper market expectations of an immediate quantitative easing (QE) package being launched by the European Central Bank (ECB).
Earlier in the summer, ECB President Mario Draghi said he was looking at further options to prop up the 19-member euro zone economy, outlining that one of the possibilities included a new program of asset purchases to stimulate lending and boost inflation.
Investors cheered his dovish comments with ECB members like François Villeroy de Galhau highlighting that a major bond-buying program, also known as QE, could come in the proceeding months if needed.
But just as investors gear up for the ECB's next meeting on September 12, two notably hawkish members of the euro zone's central bank have decided to inject some reality back into the debate.
"In my opinion, based on the current data, it is much too early for a huge package," executive board member Sabine Lautenschlaeger said in an interview with Market News this week which was published on the ECB's website Friday.
"I am still convinced that the Asset Purchase Programme (APP) is the ultima ratio, and it should only be used if you have a risk of deflation; and the risk of deflation is nowhere to be seen now."
Fellow ECB member and Dutch central bank chief Klaas Knot added his own words of caution. "If deflation risks come back on the agenda then I think the asset-purchase programme is the appropriate instrument to be activated, but there is no need for it in my reading of the inflation outlook right now," he told Bloomberg Thursday.
But there's only been a muted market response since these comments with European stocks posting gains on both Thursday and Friday. Analysts at Rabobank put this down to traders already being aware that there wasn't unanimity among the ECB's board members on QE.
They also highlighted in a research note that the reason the hawks "are stating their objections so vociferously is that they know that it is very likely that the APP will imminently be re-started."
If implemented, it would be the second time in its history that the central bank has announced a massive program to directly inject money into the euro zone economy.
Last week, Erik Nielsen, group chief economist at UniCredit, predicted QE would be launched in September and could between 300 billion and 400 billion euros ($333.07 and $444.10 billion) over a nine-month period.
The euro area is still struggling to deal with its low inflation levels and to grow at a significant rate. According to the central bank's latest forecasts, out in June, headline inflation is set to reach 1.3% in 2019 — the ECB's target is "below but close to 2%." In terms of growth, the central bank is expecting growth to reach 1.2% this year — having grown at a rate of 1.8% in 2018.
Silvia Dall'Angelo, senior economist at Hermes Investment Management, told CNBC via email last week that he wouldn't rule out an open-ended approach by the ECB.
"An ECB official recently made the case for a more forceful move, a bigger rather than smaller programme is likely, say 45 billion euros per month for a year," he said.