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Tuesday 5 December 2023 Dublin: 3°C

# European Central Bank

All time
Italian bonds hit 7.4 per cent as Europe enters crisis mode
The price of borrowing for the Italian government is now at the same level which prompted bailouts for Ireland and Portugal.
National Irish Bank says rate hike not related to ECB cut
The Danish-owned lender confirms a mortgage rate increase of up to 0.95 per cent – but says it’s nothing to do with the ECB’s cut.
Two banks will pass on ECB interest rate cut to mortgage holders
But aside from Permanent TSB and KBC Bank Ireland, what are the other banks doing?
Surprise! ECB cuts interest rate to 1.25 per cent
On his first day in the job, ECB president Mario Draghi surprised everyone by cutting the eurozone’s main interest rate.
Troika to announce latest report today
Representatives from the Troika are expected to announce that Ireland has been meeting targets set out in the bailout plan.
Greece secures €8bn bailout loans - with a slap on the wrist
The Troika concludes a review mission to Athens – likely to approve new loans, but with damning words about economic reform.
Eurozone debt crisis: 9 key diary dates this month
Will this be the most important month for the 17 nations of the euro area?
ECB to offer emergency loans to Eurozone banks
Meanwhile, President Jean-Claude Trichet says that Ireland’s credibility is visibly improving month after month.
Trichet's last ECB meeting not likely to see cuts to rate
The ECB’s monthly meeting today is the latest before Jean-Claude Trichet hands over the reins at the European Central Bank.
Wall Street ends worst quarter since 2008
Global stocks were down today as fears on the global economy show no signs of abating.
Govt criticised for U-turn on Anglo senior bondholders
Ireland is to save €10 billion from bailout interest rate cuts but Finance Minister Michael Noonan says it is unlikely the ECB will allow any “burning” of Anglo Irish Bank’s senior debt.
Brussels paints bleak picture for European economic recovery
The European Commission’s new review lowers its expectation of economic growth, which will be flat in the third quarter.
ECB spent €14bn on Spanish and Italian bonds last week...
…and its input was virtually worthless, because prices today are pretty much exactly where they were seven days ago.
ECB's chief economist quits over divisive bond-buying policy
Jürgen Stark is stepping down three years early – apparently in protest at ECB policies not favoured by his native Germany.
Trichet: Ireland is gaining credibility and increasing creditworthiness
The ECB president has some kind words, as the main ECB interest rate remains unchanged – and could even be lowered soon.
Mortgage relief as ECB expected to avoid hiking interest rates
European Central Bank officials will meet in Frankfurt today to make a decision that will affect Irish homeowners.
Noonan exploring bondholder burning plan
Minister for Finance and the ECB president are likely to discuss Noonan’s plan of imposing losses on senior Anglo and INBS bondholders next week.
Markets take a nose dive as bond crisis returns with a bang
Christine Lagarde says there’s a “crisis of confidence”. No kidding: markets are slipping while borrowing costs are back on the up.
Eurozone not destined for a double-dip - Barroso
The head of the European Commission insists that the bloc will continue to grow, albeit at a rate slower than first hoped.
The Daily Fix: Saturday
In tonight’s Fix: The fall out from the Vatican’s response to the Cloyne report; why there could be good news for mortgage holders; and what’s happening down at the Electric Picnic?
ECB demands that Italy plough ahead with tough austerity plans
Silvio Berlusconi has been forced to drop some plans in a bid to win political support – but Jean-Claude Trichet isn’t too pleased.
Relief for mortgage holders? Analysts reckon ECB will cut interest rates
The ECB had been expected to continue raising interest rates this year, but may now cut them to revive the economy.
ECB continues to ease off on bond-buying programme
The ECB’s purchase of Spanish and Italian bonds continues to wind down, with purchases down to €6.65bn last week.
Crisis averted? ECB eases off on bond-buying
The ECB spent €14.3bn buying Spanish and Italian bonds last week, down from €22bn the week before, as the crisis eased.
ECB spent €22 billion on European bonds last week
Confirmation that the bank intervened to prop up Italian and Spanish bonds comes before Germany and France meet tomorrow to discuss the ongoing debt crisis.
ECB's emergency bank lending soared last night
Banks took €4bn of overnight emergency funds last night – compared to just €2m on Monday night – amid fears over France.
ECB's lending to banks is now at nearly €50bn
The loans – which are for the unusually long period of six months – are aimed at steadying the banking system.
Spanish bank puts up Cristiano Ronaldo, Kaka as collateral for loans. No, seriously
The bank that lent Real Madrid the money for its massive transfers needs a dig-out from the ECB – and the lads are collateral.
Ireland 12.5, France 0: Corporate tax spat over as country to save hundreds of millions
A lower interest rate means savings of between €600 million and €800 million on Ireland’s loans. And corporate tax? C’est fini. But what’s the future for Europe?
Eurozone leaders set for key summit as France and Germany agree common position
But neither country will tell us what that position is ahead of the summit in Brussels this afternoon.
AIB increases interest rates - but mortgage repayments safe for now
AIB increases saving and lending rates, but there’s no move for standard rate mortgages for the time being.
Mortgage holders braced for ECB interest rate hike
A hike of 0.25 per cent is expected – bad news for those with tracker and standard variable rate mortgages.
Italy's Mario Draghi to take over from Trichet after French qualms quashed
The only candidate for the post has been officially appointed Trichet’s successor.
Will the European Central Bank support Noonan's bondholder burning?
One analyst warns that if the government imposed losses on senior bond holders, no Irish bank would be able to access the market for years.
European Central Bank must agree to Noonan's proposal to burn senior bondholders
The International Monetary Fund has backed the move to burn over €3 billion worth of loans but what line the European Central Bank will take is much harder to predict.
Greece's credit rating now the lowest in the world
Standard & Poor’s drops Greece another three notches and says any restructure will be considered a sovereign default.
ECB holds interest rate for now, but Trichet hints at July hike
The European Central Bank keeps its key rate unchanged for now – but Trichet’s “strong vigilance” means one next month.
Greece close to securing the next €12bn tranche of bailout funds
Following reports suggesting the IMF may not approve the next installment of funds for Greece, Germany has moved to ensure the market that the EU/IMF will continue to back the bailout plan.
UCD's Karl Whelan: Ireland faces needing a SECOND bailout
The current market conditions won’t allow Ireland to borrow through normal means by next year – leaving us in the lurch.