Euro loses one per cent against the dollar as markets feel the impact of quantitative easing March 10, 2015 The euro has fallen further against the dollar today, after the European Central Bank (ECB) launched its much-anticipated quantitative easing programme. The single currency briefly fell below the $1.07 mark in late afternoon trading, or down more than one per cent, taking it to its lowest level since 2003. It wasn't helped by the [...]
Pound smashes through €1.40 mark hitting seven-year high against the euro amid quantitative easing and Greek woes March 10, 2015 The pound soared to a more-than seven year high against the euro today thanks to the start of Eurozone quantitative easing. Sterling rose 0.45 per cent, powering past €1.40, its strongest since December 2007. It's been buoyed by Draghi's "biggest bazooka", the €1.1 trillion (£720bn) bond-buying programme, which was launched yesterday. The programme, due to [...]
European markets dip as quantitative easing begins March 9, 2015 European markets fell in early trading as the European Central Bank finally launched its €60bn-a-month (£43bn) quantitative easing programme. The FTSE 100 fell 0.59 per cent, while Germany's Dax dropped 0.39 per cent and France's Cac fell 0.61 per cent, as investors showed their caution over the programme, which is designed to lift Europe out [...]
The Eurozone’s quantitative easing programme is about to start – here’s what you need to know March 8, 2015 Tomorrow is the launch of the Eurozone's long-awaited quantitative easing programme, as the European Central Bank (ECB) starts buying back €1trn (£720bn) worth of bonds from the bloc's member states. The scheme, which aims to boost Europe's economy, was finalised on Thursday, with ECB President Mario Draghi citing the success of similar programmes launched by [...]
Euro edges closer to $1.10 mark as investors await more details on quantitative easing March 4, 2015 The euro edged closer towards the $1.10 psychological barrier in early afternoon trading, falling 0.8 per cent to $1.1086 as investors awaited further details of the European Central Bank's (EBC) €1.2 trillion (£870bn) quantitative easing programme. The currency crashed through its previous 11-year low of $1.1098, which it hit in earlier this year. ECB chief [...]
Mario Draghi calling: Why the ECB’s QE may struggle to reach €1 trillion March 3, 2015 The European Central Bank’s (ECB) version of quantitative easing (QE), which was announced to much fanfare in January, involves the purchase of bonds from both institutions and individuals. ECB president Mario Draghi hopes that the proceeds of these sales will be used to buy other assets or to lend, thereby oiling the wheels of the [...]
Why demography –not QE – is destiny – CNBC Comment March 2, 2015 The latest figures from Europe have been getting better. Let’s hope it lasts. Nonetheless, the debate continues over whether the European Central Bank (ECB) has done “too little too late” in terms of its trillion-euro QE program to avoid “Japanese-style” deflation. It is a debate that has raged ever since the US Federal Reserve embarked [...]
ECB minutes show “large majority” in favour of quantitative easing February 19, 2015 The first-ever minutes of a meeting of European Central Bank monetary policymakers has shown that a "large majority" of its governing council supported the introduction of a quantitative easing programme. The 9,000 word document shows its governing council was concerned low oil prices would lead to long-term low inflation. This, in turn, raised the possibility [...]
Bank of England holds interest rates at record low of 0.5 per cent and keeps £375bn quantitative easing programme in February February 5, 2015 There are no surprises from the Bank of England, again. The central bank held its benchmark interest rate a record low of 0.5 per cent for the 71st month in a row. It also kept its quantitative easing programme steady at £375bn at the monetary policy committee's (MPC) February meeting. While the UK economy has [...]
Wolfgang Schauble’s fine line on the Eurozone’s QE – CNBC Comment January 26, 2015 I had to laugh. Watching the CNBC panel at the World Economic Forum last Friday in Davos, the German finance minister Wolfgang Schauble stole the show in his dry, wry way. Having been one of the biggest critics of the European Central Bank’s (ECB) QE programme from the start, he walked a delicate line defending [...]