European Central Bank

ECB governor calls for tax, regulation

Berlin - Muslimchronicle

A top European Central Bank official on Wednesday called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering. "One ought to apply what the basic rule is in any other financial transaction: everyone involved should reveal their identity," ECB governing council member Ewald Nowotny told the German daily Sueddeutsche Zeitung. "WeRead more

As investors suffer 'reality check'

New York - Muslimchronicle

Bitcoin prices plunged by a quarter on Friday as investors cashed out just before Christmas after the wildly volatile currency's stratospheric rise in recent weeks. The precipitous drop comes after a series of warnings by analysts and governments about a bubble that could burst at any moment as investors, many inexperienced, piled into the unit hoping to enjoy some of the eye-watering gains.Read more

Global regulators seal final post-crisis banking rules

Frankfurt am Main - Muslimchronicle

Regulators from around the world polished off the final set of new regulations for banks in Frankfurt on Thursday, the Basel Committee on Banking Supervision said in a statement, closing a saga begun at the height of the financial crisis. Completing the so-called "Basel III" reforms "represents a major milestone that will make the capital framework more robust and improveRead more

Bank of Japan cuts annual inflation forecasts

Tokyo - Muslimchronicle

Japan's central bank cut its annual inflation forecast on Tuesday but kept its ultra-loose monetary policy unchanged, even though overseas counterparts have started turning off the stimulus taps. The Bank of Japan also maintained its 2.0-percent inflation target -- seen as crucial in a long battle against deflation that has hobbled the once-booming economy -- as separate data Tuesday showedRead more

Dollar extends gains on Trump tax hopes, Nikkei lifted by Abe win

Hong Kong - Muslimchronicle

The dollar climbed against rivals Monday, helping to push up European and Japanese stock markets, while share prices in the US moved modestly higher at the start of a heavy week of corporate earnings report and a much-anticipated European Central Bank meeting. Key earnings reports were expected from many of the biggest US companies, including Google parent Alphabet, ExxonMobil, McDonald'sRead more

ECB fines rescued Italian bank 11.2 mln euros

Frankfurt am Main - AFP

The European Central Bank has fined an Italian bank in the throes of a state rescue for breaking rules on risk and disclosing information, the Frankfurt institution said Friday. Regulators decided in May to fine Banco Popolare di Vicenza a total of 11.2 million euros ($13.4 million), the ECB said in a press release. Some 8.7 million of the sumRead more

German inflation inches up in August: preliminary data

FRANKFURT AM MAIN - AFP

The pace of inflation in Germany increased slightly in August, preliminary official figures showed Wednesday, inching closer towards the European Central Bank's eurozone-wide target. Consumer prices rose by 1.8 percent year-on-year this month in Europe's largest economy, federal statistics authority Destatis reported. August's rate of price growth was 0.1 percentage points higher than in July, in line with predictions fromRead more

Draghi mum on stimulus, pleads for open trade in speech

Washington - Muslimchronicle

European Central Bank chief Mario Draghi on Friday delivered a plea for maintaining trade liberalization but acknowledged the widespread perception that lowered trade barriers had fueled inequality. However, Draghi's widely anticipated address to an annual gathering of global central bankers in Jackson Hole, Wyoming made no mention of when the ECB may wind down its multi-trillion-euro bond-buying stimulus program adoptedRead more

German judges refer ECB lawsuit to European court

Frankfurt am Main - AFP

Germany's top court said Tuesday it had referred a lawsuit against the European Central Bank's multi-billion-euro bond-buying scheme to the European Court of Justice, saying the bank may have overstepped its mandate. The judges at the Constitutional Court in Karlsruhe said they saw "significant reasons" to believe the ECB exceeded its monetary policy mandate when it began buying government debt onRead more