Tag: ECB

ECB

Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) Euro Climbs Following Draghi’s Rate Hike Delay On Thursday, the euro climbed 0.6%, reaching a seven-week high of $1.1290 against the USD. This increase in value came following ECB President Mario Draghi’s announcement that the ECB […]

CLS Names New CEO

CLS has named Marc Bayle de Jessé as its new CEO, effective 2 December. He joins from the European Central Bank (ECB) where he is currently director general, market infrastructure and payments and chair of the Market Infrastructure Board. In his current role, de Jessé is responsible for defining and steering the implementation of policies […]

ECB Minutes Highlight Currency Manipulation Concerns

The minutes from the European Central Bank’s latest monetary policy meeting reveal anxieties about nations manipulating their currencies for competitive gain.

According to the ECB minutes, which were released today, “A number of remarks were made about recent exchange rate developments.”

It was noted in the minutes that while the euro exchange rate is not a target of ECB policy, movements in the exchange rate are deemed important insofar as they can affect the outlook for growth and inflation in the euro area.

ECB Encourages Commitment to Global Code by May 2018

The European Central Bank (ECB) is publicly endorsing the statement of Commitment set out in the FX Global Code of Conduct and is encouraging FX trading counterparties to do the same.

The FX Global Code is a set of global principles of good practice in foreign exchange markets, developed by central banks and market participants from 16 jurisdictions around the globe in order to promote a robust, fair, liquid, open and appropriately transparent market.

Today the ECB invited FX market participants to publicly commit to the principles set out in the Code by endorsing the statement of commitment annexed to the Code by the end of May 2018.

Euro to Weaken Following ECB’s Rates Decision?

The European Central Bank (ECB) has decided to hold interest rates steady, with market participants predicting further euro weakness.

At today’s meeting, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40%, respectively.

The Governing Council says that it expects the key ECB interest rates to remain at present or lower levels for an extended period of time.