State of the Union: The Iran War has caused prices to rise amid an energy supply crunch. The post European Central Bank Raises Interest Rates appeared first on The American Conservative .
The European Central Bank voted on Thursday to raise a key interest rate amid concerns about higher inflation. The ECB raised its deposit rate 25 basis points to 2.50 percent. The Iran War has created an energy supply crunch, sending prices upwards. The ECB’s decision came the same day the price of Brent crude topped $105 a barrel. ECB President Christine Lagarde said the rate hike was unanimous and a “no brainer” given the need to stabilize prices. “With today’s decision, the Governing Council remains well positioned to navigate the uncertainty caused by the conflict,” read a statement released by the ECB. During a press conference, Lagarde rejected French politician Jean-Luc Mélenchon’s proposal to cancel…Open
State of the Union: The Iran War continues to drive higher energy prices and broader inflation. The post ECB Holds Rates Steady appeared first on The American Conservative .
The European Central Bank (ECB) left interest rates unchanged at its meeting Thursday, citing the effects of the Iran War on energy markets. The bank kept its benchmark deposit rate at 2.25 percent, with its main refinancing and marginal lending rates remaining at 2.40 percent and 2.65 percent, respectively. The ECB assessed that energy prices remain volatile and consistently elevated when compared to pre-war conditions, noting in a statement that “uncertainty remains high and the full inflationary impact of the energy shock has yet to play out.” The bank also said it was “closely monitoring the intensity and duration of the shock, as well as its indirect and second-round effects.” Inflation in the Eurozone dipped slightly in…Open
State of the Union: Kevin Warsh indicated that the central bank would pursue price stability independent from political pressures. The post Fed Chair Signals Renewed Inflation Fight at ECB Panel appeared first on The American Conservative .
Federal Reserve Chair Kevin Warsh signaled that the central bank would be focused on bringing down inflation during a European Central Bank Forum panel Wednesday in Sintra, Portugal. Warsh did not offer forward guidance, in keeping with a policy he articulated at June’s board of governors meeting, but indicated that the central bank was committed to meeting its inflation target. “If there were people in the household or the business sector and the financial markets who thought that this central bank was going to be comfortable with an inflation objective above 2 percent,” he remarked , “well, I guess they’d be disappointed.” According to the latest report of the Federal Reserve’s favorite measure, inflation is above 4…Open
It's not just an American thing. Central bankers from other top Western democracies also believe that they should communicate less about where policy is going. Why it matters: There was striking alignment of views among the heads of the European Central Bank, Bank of England, Bank of Canada and the U.S. Federal Reserve on display in Portugal. - It suggests that Kevin Warsh's ascent to Fed chairmanship is helping trigger a global turning of the page on some of the monetary policy assumptions of the last couple of decades. State of play: Warsh has been a longtime critic of forward guidance , of central banks laying out explicitly what they anticipate doing in the future. He had like-minded company on stage at the ECB's annual conference in…
State of the Union: The ECB becomes the first major central bank to raise rates to combat inflation. The post European Central Bank Raises Interest Rates by 0.25 Percent appeared first on The American Conservative .
The European Central Bank (ECB) raised interest rates for the first time in nearly three years on Thursday, from 2 to 2.25 percent, making it the first major central bank to raise rates amidst climbing inflation. Higher energy costs in the eurozone helped to push inflation over 3 percent, forcing a response from the central bank. Economists and investors expect the U.S. Federal Reserve and Bank of England to join the ECB by the end of the year in raising interest rates as inflation continues an upwards climb. Iran’s closing of the Strait of Hormuz has driven up energy prices significantly and weighed significantly in inflationary pressures across the globe. The eurozone’s economy shrank by 0.2 percent in the first quarter of…Open
The European Central Bank is set to raise rates, the first such move since September 2023, as energy disruptions caused by the Iran war drive higher prices.
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