Wednesday, 27 March 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
ECB pushes out rate hike, offers cheap cash to banks
Thursday, 7 March 2019 22:20 WIB | FISCAL & MONETARY |EropaBank Sentral Eropa ECB

The European Central Bank changed tack on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone economy.

The bolder-than-expected move came as the U.S. Federal Reserve and other central banks around the world are also holding back on rate hikes. It underlined how a global trade war, Brexit uncertainty and simmering debt concerns in Italy are taking their toll on economic growth across Europe.

Whereas the bank had previously said rates would remain at their record low levels through the summer, it said it now expected them to stay there œat least through the end of 2019.

The ECB now sees euro zone growth at barely 1.1 percent this year, compared to the 1.7 percent it projected in December.

In addition, it launched a third Targeted Long-Term Refinancing Operation (TLTRO III) consisting of two-year loans partly aimed at helping banks roll over 720 billion euros in existing TLTROs and so avoiding a credit squeeze that could exacerbate the economic slowdown.

Commercial banks have already started restricting credit in the face of falling industrial output and exports.

As reported by Reuters, the new loans will carry a floating rate tied to the ECB™s main refinancing operation, currently set at zero.

Source: Reuters

RELATED NEWS
Bank of England leaves policy rate unchanged at 0.75% with unanimous vote as expected...
Thursday, 21 March 2019 19:14 WIB

Dalam keputusan yang diperkirakan secara luas, Komite Kebijakan Moneter Bank of England mempertahankan suku bunga kebijakan tidak berubah di 0,75% dengan suara bulat. Fasilitas pembelian aset juga tet...

Fed, Seeing Slower Growth and Softer Inflation, Now Projects No Rate Hikes This Year...
Thursday, 21 March 2019 02:15 WIB

Pejabat Federal Reserve, melihat pertumbuhan yang lebih lambat dan inflasi yang lebih lembut ke depan, mengatakan pada hari Rabu mereka tidak berharap untuk menaikkan suku bunga sama sekali selama tig...

Fed's Powell says no immediate policy responses needed to economy...
Monday, 11 March 2019 10:05 WIB

Reuters melaporkan bahwa Ketua Federal Reserve Jerome Powell mengatakan The Fed tidak melihat masalah dalam ekonomi AS yang menuntut perubahan dalam kebijakannya dan akan berhati-hati untuk tidak meng...

RBA Holds Nerve on Rates, Waits to See Which Way Consumers Jump...
Tuesday, 5 March 2019 11:13 WIB

Bank sentral Australia menahan diri menghadapi tekanan kredit dan jatuhnya harga properti, menjaga suku bunga tidak berubah ketika menunggu untuk melihat bagaimana konsumen merespons. Gubernur Philip...

Fed Chief Powell Says Economy Sending 'Conflicting Signals'...
Tuesday, 26 February 2019 22:16 WIB

Ketua Federal Reserve Jerome Powell pada hari Selasa mengatakan ekonomi telah mengirimkan "sinyal yang bertentangan" yang harus "bersabar" terhadap perubahan masa depan untuk suku bunga. "Sementara k...

LATEST NEWS
Stocks Close Higher as Energy, Financial Sectors Rally

U.S. stocks rose Tuesday as energy and consumer staples sectors buoyed the market but main indexes traded off their intraday highs on tepid housing and consumer-confidence data as well as lingering uncertainties over global growth and Brexit. The...

Oil Prices End Higher Ahead of Weekly Updates on U.S. Petroleum Supplies

Oil futures finished higher Tuesday, with U.S. prices up for the first time in three sessions, ahead of the latest weekly reports on U.S. crude and product supplies. The American Petroleum Institute will report inventory data late Tuesday, while...

Gold Futures Suffer a Retreat From March Highs as U.S. Stocks And Yields Climb

Gold futures on Tuesday settled in negative territory, giving back the bulk of gains from a day earlier that landed the metal at its highest finish in about a month. Stocks and other assets perceived as risky regained some footing higher on the...

POPULAR NEWS
Gold Scores Highest Finish in a Month as Global Market Jitters Persist
Tuesday, 26 March 2019 01:36 WIB

Haven gold pushed higher again Monday to tally its best finish in about a month, as financial markets kept attention fixed on global growth fears...

Gold nears best level in a month as global market jitters persist
Monday, 25 March 2019 19:36 WIB

Gold pushed higher again Monday, within striking distance of its best level in a month, as financial markets kept attention fixed on global growth...

Gold Advances as Investors Weigh U.S. Outlook, Fed
Monday, 25 March 2019 12:43 WIB

Gold gains as investors weigh inversion of the Treasury yield curve, seen as a warning of recession, and Donald Trump's choice of Stephen Moore...

Gold's Net Bullish Positions Snap Three-Week Losing Streak
Monday, 25 March 2019 08:31 WIB

Gold speculators increased their bullish net positions in the week ended March 19, the Commodity Futures Trading Commission (CFTC) data released on...