#European Central Bank

[vyorei]

PALESTINIAN LIVES MATTER MORE THAN FUCKING ENERGY COSTS, THE CARNAGE NEEDS TO BE STOPPED

#free gaza #free palestine #gaza strip #irish solidarity with palestine #palestine #gaza #news on gaza #al jazeera #boycott israel #israel #European central bank #Isabel Schnabel

[rjzimmerman]

Excerpt from this EcoWatch story:

The central banks of the U.S., EU and UK have all been linked to deforestation and ecosystem destruction in Brazil.

That’s the finding from a Global Witness report released Wednesday called “Bankrolling Destruction,” which outlines how the U.S. Federal Reserve, the European Central Bank and the Bank of England bought bonds from three agribusiness companies accused of land-clearing in Brazil: Archer-Daniels-Midland Company (ADM), Bunge Ltd Financial Corp and Cargill, Inc.

“At a time when the climate crisis is ravaging countries across the world, it is unacceptable that the biggest central banks are bankrolling companies linked to the destruction of forests and its associated human rights abuses,” Global Witness Forest Team Leader Veronica Oakeshott said in a statement. “If we are to have any hope of limiting climate change we need those forests standing. Whatever their corporate bond purchase schemes were set up for, it surely wasn’t this.”

The report focused on a practice called quantitative easing in which central banks purchase corporate bonds in order to stimulate the economy. This practice became common during the 2008 recession and then again during the coronavirus pandemic. The idea is that the central banks can generate economic activity by buying company debt when private banks aren’t willing to lend.

However, Global Witness found that–through these bond purchasing programs–the banks were also potentially funding deforestation.

The U.S. Federal Reserve bought $16 million in bonds from ADM, Bunge Ltd Financial Corp and Cargill, Inc. since 2020.

The European Central Bank purchased an unspecified amount of debt from Bunge Finance Europe B.V.

The Bank of England bought an undisclosed share in a £150 million Cargill bond after 2016.

#deforestation #central banks #Federal Reserve Bank #European Central Bank #Bank of England

[pressnewsagencyllc]

Macron Is Gauging Support for a Plan to Install Draghi in the Top EU Job

French President Emmanuel Macron, who was instrumental in making Ursula von der Leyen the European Commission president five years ago, is now in talks with fellow EU leaders to find a different candidate — such as Mario Draghi — to fill the top job. With less than two months to go ahead of the bloc’s elections, Macron has spoken with premiers including Italian Prime Minister Giorgia Meloni about…

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#Angela D Merkel #currency #elections #emmanuel macron #Euro Spot #European Central Bank #Foreign policy #Germany #JOBS #Mario Draghi #politics

[head-post]

ECB president condemns economists at Davos

European Central Bank (ECB) President Christine Lagarde lashed out at economists on January 17, accusing them of having “blind faith” in their models, which often bear little relation to reality.

Speaking at an event entitled How to Trust the Economy at the World Economic Forum in Davos, the ECB chief also suggested that economists constitute a “tribal clique” whose models largely ignore shocks such as pandemics, climate change, and sudden supply disruptions.

Many economists are actually a tribal clique. [They] are among the most tribal scientists that you can think of. They quote each other. They don’t go beyond that world. They feel comfortable in that world. And maybe models have something to do with it.

Read more HERE

#world news #world politics #news #wef #world economic forum #davos #davos 2024 #ecb #european central bank #christine lagarde #global news #global politics #economics #economy #recession #world events

[dencyemily]

XRP in the Spotlight: Anticipating a Record Surge Fueled by ECB's Blockchain Endorsement

Renowned blockchain figure JackTheRippler suggests that XRP is gearing up for a new parabolic pump, hinting at a potential all-time high in the near future. The European Central Bank (ECB)'s alleged use of the XRP Ledger in its TIPS payment settlement services adds to the growing excitement in the crypto community, reinforcing optimism about XRP's future surge.

Edo Farina, CEO of Alpha Lions Academy, emphasizes that the ECB's strategic move to employ the XRP Ledger signifies the increasing significance of XRP in the evolving landscape of digital currencies. This endorsement positions the XRP Ledger as a robust and enduring blockchain, instilling confidence in the cryptocurrency's long-term outlook.

Despite XRP's current market value standing at $0.5742 with a marginal 1.53% decrease in the past day, its impressive $31 billion market cap and substantial circulating supply of 54 billion coins contribute to a positive overall sentiment. The RSI at 44.15 falls within the neutral range, suggesting balanced market conditions, while the MACD histogram indicates a bearish momentum. However, the anticipation for XRP's upward trajectory remains high.

#XRP #Ripple #European Central Bank #ECB #XRP Ledger #TIPS #cryptocurrency #market performance #market cap #RSI #Moving Average Convergence Divergence #MACD #Cryptotale

[xtruss]

What Drives Inflation So Sticky in US, Europe, Other Developed Countries?

— Wen Sheng | July 06, 2023

Illustration: Liu Rui/Global Times

Recently, the US Federal Reserve, the central bank, hinted that the policymakers are likely to raise the benchmark federal funds rate two more times in 2023 to above 5.5 percent - a prospect that immediately cast a thickening cloud on global markets, as investor are already spooked by the aggressive Fed tightening in the past 15 months.

It is plausible that the US and the EU need higher rates and moderate recessions in order to tamp down inflation, which is increasingly trenched through the economic system of the developed countries.

Inflation is 20-nation euro area is too high, at more than 6.4 percent now, which is set to remain elevated from some time, said Christine Lagarde, president of the European Central Bank, on June 27. And, Jerome Powell, the Federal Reserve chair, said on June 29 that "inflation pressures continue to run high, and the process to get inflation back down to 2 percent has a long way to go."

To cater to American ordinary households' grievances that the consumer prices have been rising too fast, eating away at their savings and aggravating the cost-of-living crisis, the US central bank has raised its policy rate to above 5 percent from near zero in March 2022. It skipped raising rates in June for the first time in 11 policy meetings, but Powell did not rule out that officials could return to back-to-back rate moves again.

In contrast to the developed countries' predicament facing one of the stickiest inflation in history, the major emerging economies, including China, Russia, Saudi Arabia and Brazil, are doing just fine, with 0.2 percent, 2.5 percent. 2.8 percent and 3.9 percent consumer price rises in May over the corresponding period last year, respectively.

Chinese government's decision to go piecemeal in post-pandemic economic stimulation, refraining from the downpour-style stimulus seen in the US and the EU economies, has contributed to the very low inflation in the first half of 2023, though China's economic growth has also averted a blockbuster surge which is unsustainable. Inflation is likely to be controlled within 1.5 percent rise through 2023, while GDP growth is expected at around 5 percent.

Compared to the US, the EU and other Western economies, it is an extraordinary feat for Russia to successfully tame consumer price rises, as the country has been blanketed with the most sweeping economic and financial sanctions by the US-led Western countries since the breakout of the Russia-Ukraine military conflict. And, Russian economy is expected to pose a meaningful growth of around 2-3 percent in 2023, despite facing the draconian Western sanctions.

A growing number of Western readers are baffled by their stubborn inflation in contrast to Russia and China, and they start to seek answers. "Our mainstream media are always criticizing 'authoritarian' governments, but they won't explain why Russian inflation, at 2.5 percent, is lower than most developed Western countries, although Moscow is subject to our sanctions," one commentator bemoaned.

It is understandable that Russia has done a lot to maintain domestic market stability since the conflict with Ukraine erupted. Its huge deposits of fossil-fuel energies and large grain harvest, plus maintaining normal trade exchanges with China and many other non-Western economies, have all helped Russian market stability and low consumer prices. The US government's efforts to crush and destroy Russian economy through sanctions have largely failed.

However, getting the US' own inflation rate down to around 2 percent is not easy, and would require a moderate recession, to do it. For many years, that the country has been able to keep its inflation at 2 percent was largely a result of inexpensive goods provided by China, the world's factory, and other low-wage developing countries. But Donald Trump's senseless trade war with China, by drastically raising the tariffs on $350 billion Chinese goods, triggered the US inflation to raise its ugly head, which has become ever sticker and embedded with the US economy through Joe Biden's reckless "decoupling" or "de-risking" attempts.

After the US government has knocked its brains to place hundreds of Chinese enterprises and institutions on its sanctioning list, it is hard for China not to retaliate. The tit-for-tats will inevitably lead to disrupted global supply chains and higher prices for almost everything.

Some in the US are griping about corporate greed for aggravating inflation, but the Biden government 'anti-globalization" bid is causing a fracturing and fragmentation of the world economy, which rolls back on corporate efficiency and lead to price surges. And, the severe income inequality among rich and poor households has made the problem ever harder to address.

In a nutshell, the worst spike in inflation that many developed economies have seen in decades underscores the global forces driving prices higher, namely the disruptions set in motion by the trade war, the pandemic, the sanctions on Russia, and the growing fragmentation and breakdown of free trade and globalization.

— The author is an editor with the Global Times.

#Inflation in US | Europ | Developed Countries #European Central Bank #Federal Reserve Bank #China 🇨🇳 Russia 🇷🇺 Saudi Arabia 🇸🇦 and Brazil 🇧🇷 #European Union 🇪🇺 #Ukraine 🇺🇦 #Global Forces #Trade War #Biden Government’s 'Anti-globalization’

[goodbreezeyeah]

What are central bank digital currencies (CBDCs), and how do they work?

#cbdcs #cbdc full form #central banking #central bank digital currency #european central bank #the fed #bank of china #bank of russia #bank of england #bank of america corp

[copela4692]

Cathonomics & Integral Ecology - Treating People and the Environment with Inherent Dignity

Timestamps: 00:00:00 Introductions Part 1 – the 10 Principles of Catholic Social Teaching 00:04:55 – 1. the Common Good 00:06:55 – 2. Integral Human Development 00:07:55 – 3. Integral Ecology 00:09:05 – 4. Solidarity 00:10:07 – 5. Subsidiarity 00:11:47 – 6. Reciprocity & Gratuitousness 00:13:25 – 7. the Universal Destination of Goods 00:14:34 – 8. the Preferential Option for the Poor 00:15:37 –…

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#Anthony Annett #Capitalism #Catholic Conscience #Catholic Social Teaching #Catholic Third Way #Catholicism #Cathonomics #Christine Lagarde #Classical Economics #Climate #Climate change #Columbia University #Conservative #Economics #Environment #Environmental science #Environmentalism #European Central Bank #European Union #Fordham University #Free Market #Georgetown University #Homo-economicus #Ideology #Integral Ecology #Integral Human Ecology #International Development #International Monetary Fund #Jeffrey Sachs #Justice

[pressnewsagencyllc]

‘Priced to Perfection’ Starts to Unravel as Debt Markets Get Jitters

Credit investors got a dose of economic and geopolitical reality this week as hawkish comments from central bank officials about borrowing costs and tensions in the Middle East sent jitters through debt markets. The pullback was triggered in part by comments from Federal Reserve Bank of New York President John Williams, who said there’s no rush to cut interest rates and it’s possible that…

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#Bonds #Capital markets #debt #European Central Bank #Federal Reserve #Generic 1st &039; CL&039; Future #Interest rates #Markets #Middle East #Money Manager #Private equity

[head-post]

European Central Bank keeps key interest rate at record high level

The European Central Bank (ECB) has kept its key interest rate at a record high. It is expected to start cutting borrowing costs next year to support the shrinking economy.

The decision followed similar decisions this week by the US Federal Reserve, the Bank of England and the Swiss National Bank, which left rates unchanged. The Fed also said it may make three interest rate cuts next year.

The ECB said it would keep its benchmark rate at 4 per cent as inflation is “likely to accelerate temporarily again in the near term”. Central banks around the world have hiked rates sharply to curb inflation that has erupted in the wake of the Covid-19 pandemic and the outbreak of war in Ukraine.

Bank President Christine Lagarde said future decisions would ensure that rates “are set at sufficiently restrictive levels for as long as necessary.”

Inflation in the 20 European Union countries that use the euro currency fell more than expected to 2.4 per cent in November from a peak of 10.6 per cent in October 2022. 

Learn more HERE

#world news #world politics #news #europe #european news #european union #eu politics #eu news #eu economy #european central bank #ecb #budget #financial #fiscal

[newbussinessideas]

RBI likely to hike benchmark interest rate by 25 bps on April 6 - Times of India

MUMBAI:Under pressure to bring down retail inflation and keep pace with global peers, the Reserve Bank may go in for 25 basis points hike in benchmark interest rate, probably the last in the current monetary tightening cycle that began in May 2022, at the bi-monthly policy to be unveiled on Thursday.The Monetary Policy Committee (MPC) of the Reserve Bank will be meeting for three days on April 3,…

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#Business News #european central bank #monetary policy committee #rbi #rbi repo rate #reserve bank