A pledge by the US central bank, the Federal Reserve, for a massive spending spree of all types of US debt failed to put the brake on the global stock market sell-off, suggesting that investors are looking for huge government spending programmes and not just market-calming initiatives by central banks.

The coronavirus is causing enormous economic damage in Ireland and globally and the bill will be much greater than most people expect, writes Tony Foley.

Ireland, as part of a coordinated approach with the eurozone, will likely be offered some sort of bank guarantee to respond to the Covid-19 fallout, such is the exceptional nature of the crisis , leading economists have said.

The two stories that dominated stock markets in recent months, the US-China trade war and Brexit, interestingly, did not weigh on stock markets.

Yanis Varoufakis says Mario Draghi’s stewardship of the ECB was blighted by the constraints he worked under — and the same problem faces his successor.

Mario Draghi’s last meeting as ECB chief on Thursday may prove a lively gathering given a deep rift among policymakers over renewed asset purchases.

Depositors and investors will, by now, realise that the zero interest rate policy being pursued by the European Central Bank (ECB) is having a disastrous effect on pensions, savings and investments.

As we head into September and the return of the schools after the summer holidays, many kids will now be thinking about Halloween and the prospect of trick or treating.

When I started working in the world of economics many moons ago, there was a cliched-term often used in popular discourse called ‘Eurosclerosis’. It was a term coined to describe and capture the anaemic growth that had characterised Europe for years.

Danske Bank, hampered by negative interest rates for longer than any European peer, promised wealthy depositors it will resist a trend to pass the burden on to them.

Battered by years of low- interest rates, eurozone banks, including Irish lenders, are looking at a multi-billion-euro consolation prize if the ECB grants them an expected reprieve from its penalty charge on deposits, according to Reuters calculations.

The outgoing European Central Bank president is imposing an expansionary monetary policy that may prove detrimental to the region’s economy, writes Hans-Werner Sinn

The ECB meeting last week provided a clear signal that the central bank was moving towards introducing new policy easing measures.

The head of the ECB Mario Draghi came close to confirming that some interest rates are heading lower in September -- and a senior analyst says this will provide Finance Minister Paschal Donohoe with a ‘Draghi bounty’ and more ‘fiscal room’ in his autumn budget.

The boss of Permanent TSB said the mortgage lender is weighing a decision on home loans and will make a judgement in the near future.

The ECB is in the spotlight ahead of a meeting today as it ponders making significant moves, including a rate cut that would be earlier than expected, following a survey on the dire health of manufacturing across the eurozone.

Irish banks are facing into a key two weeks to convince investors about their investment merits after a turgid year when their shares have again lagged most of their European counterparts.

The IMF said more work is needed to further reduce global trade imbalances amid increasing tensions, while issuing a fresh warning that such conflicts are weighing on the global economy.

The Irish economic releases have been a mix of the good and the bad.

The size of the national debt may no longer be a constraint for Government spending as the world enters a “new era” of permanently low borrowing costs, leading economist Austin Hughes has said.

Every six years, in tandem with the European parliamentary election, the EU changes the management of its top jobs.

The cost for the Irish State for any long-term borrowing is fast approaching zero as markets reacted to the nomination of Christine Lagarde to head up the ECB.

Global stockmarkets led by Asia joined in a relief rally after US president Donald Trump and China called a truce in their trade war.

Last week saw an array of comments from various central bankers trigger further strong gains in financial markets, with bond yields in Europe reaching all-time lows and the main stock market in the US hitting all-time highs.

Underlying inflation in the eurozone rebounded in June, offering some comfort to the ECB, but still falling short of the improvement policymakers are hoping for.

The social media giant has unveiled Libra, a cryptocurrency payment system that, if it fails, could take down the global economy. Governments must intervene, says Katharina Pistor.

Last week saw an array of comments from various central bankers trigger further strong gains in financial markets, with bond yields in Europe reaching all-time lows and the main stock market in the US hitting all-time highs.

EU finance ministers must sort out the sources of financing for a future eurozone budget as a matter of priority, EU leaders told their finance ministers yesterday, but remained vague on the idea of a European deposit insurance scheme (Edis).

The US Federal Reserve has held interest rates steady but signalled possible rate cuts of as much as half a percentage point over the remainder of this year, as it responded to increased economic uncertainty and a drop in expected inflation.

Medha Singh and Susan Mathew European Central Bank chief Mario Draghi’s dovish remarks — signalling that the ECB will ease policy again if inflation fails to accelerate — sent European stocks to six-week highs while news that the US and China would resume trade talks at the G20 summit also boosted sentiment.

Monetary easing has come very much back on to central bank radars.

So that’s nearly Thursday wrapped up. Here’s some of the stories we published on irishexaminer.com today which we hope will help you make sense of it all this evening.

ECB president Mario Draghi disappointed expectations the bank would act decisively to counter growing global economic clouds — but financial markets signal that it could yet be forced to cut rates later this year.

The ECB could return to its major programme of buying bonds next year, possibly meaning interest rates would stay low for much longer, but only if Bundesbank chief Jens Weidmann doesn’t get his hands on the top job at the central bank.

More than 200m of the 400m people entitled to vote in last week’s European elections did so. This marks a substantial

Upcoming national elections across Europe could ratchet up the external pressure on the Irish economy - already under threat from Brexit, potential global trade wars, and US corporate tax policy changes - an economist has warned.

Bond yields have tumbled globally in the past month in the latest leg to the rally that commenced last autumn.

Ireland has finally secured a foothold at the summit of European central banking following the appointment of Central Bank governor Philip Lane to the six member executive board of the ECB, as chief economist.

The president of the European Central Bank, Mario Draghi, has told EU leaders that companies have to increase their preparations for a possible no-deal Brexit.

Latest figures from the Central Bank show that the average interest rate on a new mortgage in Ireland is 3.01%.

European stock markets fell and the euro slid against the dollar. It traded little changed at 85.74 pence against sterling.

Mario Draghi steps down as head of the ECB at the end of October and the field of candidates to replace him has narrowed. Here are the leading contenders to take over from “Super Mario”

Whether the UK leaves the EU on the March 29, or there is an extension for a short period, the general consensus is they are going to leave and that there will be a hard Brexit.

Some ECB policymakers are reluctant to alter their guidance on interest rates as a move could tie the hands of the bank’s next president many months before an appointment is even made, four sources have said.

The euro went lower as ECB head Mario Draghi shaved the growth outlook for the eurozone economy, which may signal that the first interest rate hike since the crisis may be delayed, market watchers said.

The euro could strengthen should ECB president Mario Draghi stick tomorrow to indications that monetary policy could be tightened next year, just as the US central bank’s interest-rate path is thrown into doubt.

Consumer and financial experts have called on regulators to probe the grip held by AIB and Bank of Ireland on the banking market. The calls come after ECB head Mario Draghi told the Oireachtas Finance Committee on Thursday that a “quasi-monopoly” was driving up the costs of credit for homes and business borrowers.

ARCHAEOLOGISTS went digging for decency last Thursday. That’s how they describe it anyway. Their campaign is called Dig4Decency. It’s all about seeking proper terms and conditions in their place of work, writes Michael Clifford.

ARCHAEOLOGISTS went digging for decency last Thursday. That’s how they describe it anyway. Their campaign is called Dig4Decency. It’s all about seeking proper terms and conditions in their place of work, writes Michael Clifford.

Here are all the latest headlines this morning...