European Central Bank Keeps Interest Rate at 1 Percent

The European Central Bank left its benchmark interest rate unchanged at 1 percent as it waits to see whether a massive infusion of credit into the banking system will help the euro zone’s struggling economy. Markets and analysts will be looking to Thursday’s remarks by bank President Jean-Claude Trichet about the ECB’s $623 billion in [...]

Gold Jumps as ECB Front-Runs the Fed, Lends Near-Half Trillion Euros at 1.0%

THE PRICE OF GOLD leapt overnight and early Wednesday, recovering all and more of this week’s losses at $938 an ounce as world stock markets ticked higher but crude oil slipped for the second day running. US Treasury bond prices also drifted as the US Dollar Index held flat ahead of today’s interest-rate announcement from [...]

ECB Governor Warns Bulgaria Against Speedy Euro Adoption

The European Central Bank (ECB) governor Jean-Claude Trichet, who is on a visit in Sofia, has taken a stance against the immediate introduction of the euro, saying it is crucial that requirements are met first. Trichet, who paid a visit to Bulgaria on the occasion of the 130th anniversary since the establishment of the country’s [...]

ECB Fears Banking Crisis in 2010: Report

The European Central Bank fears another banking crisis in 2010 if the recession drags on, said ECB financial stability expert Dejan Krusec on Wednesday, cited on the website of the Daily Telegraph. If there is a quick ‘V-shaped’ recovery the banks would be strong enough to weather the downturn, he said. Read more about the [...]

ECB-Gold Reserves Down by 18 Mln Euros in Week

Gold and gold receivables held by euro zone central banks fell by 18 million euros to 240.766 billion euros ($333.9 billion) in the week ending June 5, the European Central Bank said on Tuesday. Read more about the European Central Bank…