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HKD/EUR News
European Central Bank Won't Wait for Fed -- Market Talk
There is now little doubt over the European Central Bank's willingness to start cutting interest rates ahead of the U.S. Federal Reserve, Capital Economics' Neil Shearing writes in a note.
ECB interest rate cut in June, Kazakhstan calls for caution in subsequent decisions
ECB Governing Council Member Martins Hazzaks stressed that the pace of interest rate cuts in the Eurozone should keep pace with the gradual slowing of inflation.
ECB's Kazaks Warns Against Hasty Interest-Rate Cuts After June
The pace of European Central Bank interest-rate cuts must match the gradual slowdown of euro-area inflation, according to Governing Council member Martins Kazaks.
Fitch Maintains Spain's Rating, Stable Outlook Amid Resilient Economy
Fitch on May 17 affirmed Spain's A- long-term foreign-currency issuer default rating, with a stable outlook, citing the country's economic resilience and an improving labor market.
Nomura's updated forecast: The Bank of Europe will cut interest rates in June and will not cut interest rates in July!
Nomura Securities adjusted its forecast for the ECB's monetary policy, abandoning previous expectations of interest rate cuts in July. The agency predicts that the ECB will cut interest rates continuously by 25 basis points in June, September, and December this year, followed by similar interest rate cuts in March, June, and September next year.
ECB Governing Council: June is the right time to cut interest rates and be open to the possibility of future action
ECB Governing Council member and Bank of Slovenia Governor Bostjan Vasle said on Friday that June may be the right time to start cutting interest rates and is open to subsequent actions.
ECB's Vasle Open to Possibilities After 'Reasonable' June Cut
European Central Bank Governing Council member Bostjan Vasle said next month is probably the appropriate moment to begin lowering interest rates and that he’s keeping an open mind on what to do after that.
Hong Kong's GDP Growth Slows to 2.7% in Q1, Revised Figures Say
GDP during the preceding quarter rose by 4.3%, while the seasonally-adjusted GDP rose by 2.3%, the report said.
ECB Could Cut Twice This Summer, Unless Oil Surges -- Market Talk
Two interest-rate cuts in two months could be on the cards for the eurozone unless oil prices spike and drive energy inflation higher, Claus Vistesen at Pantheon Macroeconomics writes in a note.
Hong Kong's GDP grew 2.7% year on year in the first quarter and remained unchanged at 2.5% to 3.5% for the whole year
On May 17, the Hong Kong Government published the “Economic Report for the First Quarter of 2024” and revised GDP figures for the first quarter of 2024.
ECB's Schnabel Lobbies Against Back-to-back Rate Cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.
ECB Executive Director Schnabel: There is no need to cut interest rates continuously in June and July and be wary of the risk of premature relaxation
ECB Executive Board member Isabel Schnabel warned against successive interest rate cuts in June and July.
The ECB Executive Committee said it was appropriate to cut interest rates in June, but there is no need to cut interest rates in July!
ECB Executive Director Schnabel said that cutting interest rates in June is appropriate, but according to current data, there seems to be no need to cut interest rates in July; a cautious attitude should be taken. Inflation risks are still biased upward. If the easing process is put ahead, there is a risk of premature easing.
French Unemployment Rate Remains at 7.5% in Q1
France's unemployment rate stood at 7.5% in the first quarter, unchanged from the prior three-month period, the statistics agency Insee said Friday. Analysts expected a 7.4% rate for the quarter.
ECB's Schnabel Says July Cut Doesn't Look Warranted
European Central Bank Executive Board member Isabel Schnabel warned against back-to-back interest-rate cuts in June and July.
ECB's Villeroy Says Probability of June Rate Cut 'Significant'
Bank of France Governor Francois Villeroy de Galhau said it’s very probable that the European Central Bank will start cutting interest rates at its June 6 meeting.
Eurozone Nations Face Tough Task Ahead Getting Deficits Under Control -- Market Talk
The latest European Commission forecasts provide a gloomy fiscal picture, with expectations of a higher deficit for the eurozone, including for major countries like France and Italy, HSBC economist Fabio Balboni says.
ECB: Eurozone Financial Stability Improves Amid Cooling Inflation, Lower Recession Risks
Financial stability in the euro area has improved, thanks to a continued decline in inflation and reduced recession risks as investor sentiment rebounds, the European Central Bank said Thursday.
Spain's Tourism Industry Keeps Adding Jobs -- Market Talk
Tourism continues to boost Spain's jobs market, making up some of the highest proportions of total jobs on record.
ECB Says Risks to Financial Stability Have Eased as Threat of Recession Recedes
The eurozone's financial system faces less acute threats to stability as it appears increasingly unlikely that the currency area's economy will slide into a deep recession, the European Central Bank said.