net_left adver left

ECB Cements July Liftoff With Bond-Buying to End in Three Weeks

Friday, June 10, 2022
ECB Cements July Liftoff With Bond-Buying to End in Three Weeks © Reuters ECB Cements July Liftoff With Bond-Buying to End in Three Weeks

(Bloomberg) -- The European Central Bank will cease large-scale asset purchases in three weeks -- a key step in confronting record inflation and one that sets the stage for the euro zone’s first interest-rate increase in more than a decade.

Armed with fresh forecasts signaling a faster path for euro-zone prices than previously thought alongside a weaker rebound from the pandemic, officials agreed to halt net bond-buying as of July 1 under a crisis-era program that began in 2015.

The deposit rate -- currently -0.5% -- will then be lifted by a quarter-point next month, and again by either that amount or more if inflation warrants a tougher stance.

Moves at the next two meetings would conclude an eight-year stint of subzero borrowing costs in the third quarter, affirming a plan laid out earlier by President Christine Lagarde.

“Beyond September, based on its current assessment, the Governing Council anticipates that a gradual but sustained path of further increases in interest rates will be appropriate,” the ECB said in a statement.

The euro fell against the dollar, sliding 0.2% to $1.0692, having traded little changed ahead of the policy outcome.

While Thursday’s decisions crystallize the ECB’s exit from years of stimulus, they still leave it lagging behind the more than 60 other global central banks that have already raised rates this year.

The announcements follow another unexpectedly steep surge in euro-area inflation, which stood at 8.1% in May -- more than four times the official target. Soaring prices are squeezing households across the continent, with governments spending billions of euros to shield people from a spike in energy costs driven by Russia’s invasion of Ukraine.

The relentless inflation is feeding a fierce debate among ECB officials over the size of July’s rate increase, with a sizable contingent pushing to consider a half-point hike matching the most recent move by the Federal Reserve. Lagarde may offer some insight into the Governing Council’s preference when she briefs reporters at 2:30 p.m.

She’ll speak in Amsterdam as the ECB returns to holding one policy meeting a year outside its Frankfurt base following the pandemic.

Follow the press conference on our live blog

The hawks may feel they have the momentum at present and have been vocal in recent weeks in floating an outsized rate move to keep inflation expectations in check. While Lagarde and her vice president, Luis de Guindos, are among officials who haven’t ruled out such a step, the majority seems to favor a smaller increase for now.

Highlighting the uncertainty, investors this week priced the chance of a half-point hike in July at 50/50. As price pressures linger and the economy loses steam, the ECB’s new outlook showed medium-term inflation above or at target.

This week has already seen World Bank and OECD forecasts reinforcing stagflation fears as the Ukraine war saps confidence and supply-chain disruptions in Asia restrain factories. While peak global inflation may have passed, Barclays predicts a mild euro-area recession after a splurge on summer vacations fades.

Economists surveyed by Bloomberg are less gloomy, though they do expect sharp cuts to the ECB’s outlook for the next two years. During that time the currency bloc is poised to expand to 20 members as Croatia joins on Jan. 1.

©2022 Bloomberg L.P.

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
30-06-2022 04:54:30 (UTC+7)

EUR/USD

1.0441

+0.0002 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (2)

EUR/USD

1.0441

+0.0002 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (2)

GBP/USD

1.2122

-0.0003 (-0.02%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

USD/JPY

136.57

-0.01 (-0.01%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (4)

Sell (2)

AUD/USD

0.6877

-0.0003 (-0.05%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (5)

USD/CAD

1.2895

+0.0003 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

EUR/JPY

142.59

+0.01 (+0.01%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (1)

EUR/CHF

0.9969

-0.0002 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Gold Futures

1,819.20

-2.00 (-0.11%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (5)

Silver Futures

20.733

-0.139 (-0.67%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Copper Futures

3.7717

-0.0083 (-0.22%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Crude Oil WTI Futures

109.63

-2.13 (-1.91%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

112.30

-1.50 (-1.32%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

6.416

-0.154 (-2.34%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (7)

Sell (1)

US Coffee C Futures

228.05

+10.30 (+4.73%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (7)

Euro Stoxx 50

3,514.32

-34.97 (-0.99%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (4)

S&P 500

3,818.83

-2.72 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

DAX

13,003.35

-228.47 (-1.73%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

FTSE 100

7,312.32

-11.09 (-0.15%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (4)

Hang Seng

21,996.89

-422.08 (-1.88%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (4)

US Small Cap 2000

1,713.32

-25.52 (-1.47%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (4)

Sell (4)

IBEX 35

8,188.00

-129.50 (-1.56%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

BASF SE NA O.N.

41.580

-1.445 (-3.36%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Bayer AG NA

57.62

-2.61 (-4.33%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (8)

Sell (1)

Allianz SE VNA O.N.

183.72

+0.62 (+0.34%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (4)

Adidas AG

170.02

-0.30 (-0.18%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

Deutsche Lufthansa AG

5.813

-0.222 (-3.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Siemens AG Class N

101.40

-2.74 (-2.63%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Deutsche Bank AG

8.571

-0.292 (-3.29%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.0441Neutral
 GBP/USD1.2122↑ Buy
 USD/JPY136.57Neutral
 AUD/USD0.6877Sell
 USD/CAD1.2895Neutral
 EUR/JPY142.59Neutral
 EUR/CHF0.9969↑ Sell
 Gold1,819.20↑ Sell
 Silver20.733↑ Sell
 Copper3.7717↑ Buy
 Crude Oil WTI109.63↑ Buy
 Brent Oil112.30↑ Buy
 Natural Gas6.416Neutral
 US Coffee C228.05↑ Sell
 Euro Stoxx 503,514.32Neutral
 S&P 5003,818.83↑ Buy
 DAX13,003.35↑ Sell
 FTSE 1007,312.32Sell
 Hang Seng21,996.89Neutral
 Small Cap 20001,713.32Neutral
 IBEX 358,188.00↑ Buy
 BASF41.580↑ Sell
 Bayer57.62Neutral
 Allianz183.72Buy
 Adidas170.02↑ Sell
 Lufthansa5.813↑ Buy
 Siemens AG101.40↑ Sell
 Deutsche Bank AG8.571Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,805/ 6,865
(0/ 0) # 1,727
SJC HCM6,820/ 6,890
(0/ 0) # 1,751
SJC Hanoi6,820/ 6,892
(0/ 0) # 1,753
SJC Danang6,820/ 6,892
(0/ 0) # 1,753
SJC Nhatrang6,820/ 6,892
(0/ 0) # 1,753
SJC Cantho6,820/ 6,892
(0/ 0) # 1,753
Cập nhật 30-06-2022 04:54:32
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,818.00-0.5-0.03%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V33.47034.130
RON 95-III32.87033.520
E5 RON 92-II31.30031.920
DO 0.05S30.01030.610
DO 0,001S-V30.81031.420
Dầu hỏa 2-K28.78029.350
ↂ Giá dầu thô thế giới
WTI$109.65+3.973.62%
Brent$115.68+4.33.72%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.070,0023.380,00
EUR23.788,7225.121,19
GBP27.597,2728.774,53
JPY166,01175,75
KRW15,4718,85
Cập nhật lúc 18:53:49 29/06/2022
Xem bảng tỷ giá hối đoái
adver main right