Latest European Central Bank News

EU leaders rubber stamp Lagarde's ECB appointment

Oct. 18, 2019 7:10 AM EDT

BRUSSELS (AP) — European Union leaders have approved the appointment of Christine Lagarde as the next president of the European Central Bank. The former International Monetary Fund managing director will replace Mario Draghi, who has served as ECB president since 2011. The European Council had already...

Eurozone inflation revised down to near 3-year lows

Oct. 16, 2019 6:48 AM EDT

BRUSSELS (AP) — Inflation in the 19-country eurozone was revised down in September to its lowest rate in nearly three years as energy prices fell by more than initially thought, official figures showed Wednesday. In an update, statistics agency Eurostat found that consumer prices rose by an annual rate of...

European Central Bank minority opposed bond-buying stimulus

Oct. 10, 2019 12:47 PM EDT

FRANKFURT, Germany (AP) — European Central Bank policymakers haggled extensively over several parts of the stimulus package unveiled at their meeting last month, with dissenters objecting to the relaunch of bond purchases aimed at lifting inflation and growth in the 19-country eurozone economy. The written...

Outgoing ECB head:: EU should heed lessons of global crisis

Oct. 1, 2019 3:40 PM EDT

ATHENS, Greece (AP) — Outgoing European Central Bank President Mario Draghi says European Union leaders should apply lessons learned in the decade since the global financial crisis to avoid "foreseeable risks" in the future. Speaking in Athens, Draghi urged governments in the 19-member euro currency union...

Eurozone inflation drops, underlining case for stimulus

Oct. 1, 2019 6:17 AM EDT

BRUSSELS (AP) — Inflation in the 19-country eurozone weakened in September, slipping farther from the European Central Bank's goal and underlining President Mario Draghi's arguments for a recent stimulus package. Statistics agency Eurostat said Tuesday that the annual inflation rate eased to 0.9% in...

Stocks climb as markets cap turbulent quarter with calm end

Sep. 30, 2019 5:40 PM EDT

NEW YORK (AP) — U.S. stocks climbed on Monday and gave one last nudge to ensure the S&P 500 emerged from yet another tumultuous quarter with a modest gain. As has been the case throughout the quarter, movements in President Donald Trump's trade war with China helped drive the market on Monday....

Draghi calls for more government spending to support growth

Sep. 30, 2019 10:33 AM EDT

FRANKFURT, Germany (AP) — European Central Bank head Mario Draghi says that stimulus measures including negative interest rates will have to stay in place longer if governments do not step up spending to help growth. Draghi was quoted Monday by the Financial Times as saying: "Our policies will continue to...

Top ECB official resigns after questioning stimulus

Sep. 25, 2019 8:11 PM EDT

FRANKFURT, Germany (AP) — A member of the European Central Bank's leadership has resigned after publicly questioning the need for the bank's stimulus efforts, opening an unexpected vacancy on the institutions' top executive body amid public criticism of its policies by some of its own officials. Sabine...

Economist who grew up in communist Bulgaria is new IMF chief

Sep. 25, 2019 7:00 PM EDT

WASHINGTON (AP) — A Bulgarian economist who grew up when her country was a communist nation has been selected to be the next leader of one of capitalism's premier institutions, the 189-nation International Monetary Fund. Kristalina Georgieva, a top World Bank official, was chosen by the IMF's executive...

European Central Bank chief: governments must help economy

Sep. 23, 2019 12:36 PM EDT

FRANKFURT, Germany (AP) — The head of the European Central Bank says the economy in the 19-country eurozone is not showing signs of a rebound and urged governments to help by spending more on top of the central bank's latest package of stimulus measures. Mario Draghi said in remarks Monday before the...