ECB’s "Financial Stability Reform" Report

The ECB’s latest report – Financial Stability Reform, makes for some good bedside reading, a serious paperweight (and a few dozen dead trees) and some nice chart porn. An indicatively interesting section here: “Under an adverse scenario, the significant rise in the US federal fiscal deficit and debt could result in a downgrading of the [...]

Speech by Lucas Papademos, Vice-President of the ECB

May 4, 2oo9 Let me start by thanking the organisers for inviting me to this policy debate on how to overcome the current economic and financial crisis and bring back prosperity for everyone. This subject remains topical and challenging. Lately, among the generally gloomy reporting on the state of the economy, we have observed some [...]

Could BoE and ECB Rate Decisions Surprise?

Euro and pound were generally range bound in early European trade as the currency market awaited rate decisions from both the BoE and the ECB due 12:00 and 12:45 GMT respectively. With economic calendar essentially barren trading was likely to remain choppy as EUR/USD tried to hold on to the 1.2800 level while cable consolidated [...]

Main Focus on BoE and ECB Rate Decisions

Yesterday was a choppy day in FX Market. EUR/USD fell sharply following weak PMI data and poor retail sales. Eastern European names were large sellers as the Rouble approached the bottom of the trading band. Later, the pressure intensified as Fitch downgraded Russia to BBB and kept them on negative watch. Sovereign bids kept the [...]