The Governing Council is dominated by state central bank governors, but it is not fair to suggest that they will prioritise national interests if they have to reveal how they ballot when deciding monetary policy, says
European Central Bank chief Mario Draghi has pledged indefinite stimulus to revive an ailing eurozone economy, tying the hands of his successor, Christine Lagarde, for years to come and sparking an immediate conflict with US president Donald Trump.
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.
Official national accounts data published by the CSO show that the economy had a very strong first half to the year. The underlying growth rate of the domestic economy is put at over 6% for the period, with strong rises in consumer spending, business investment and construction output.
As we look back on the decade since the financial crash, many phrases linger in the memory. One of the most telling, and ultimately the most successful in saving the euro, was European Central Bank president Mario Draghi’s 2012 announcement that he would do “whatever it takes” to ensure the survival of the single currency, writes
The EU in new forecasts has signalled a moderate pace of inflation across the eurozone in the next two years and projected glowing growth prospects for Ireland, raising the prospect for good news for Irish households and businesses that the ECB may once again delay raising interest rates, writes Eamon Quinn.
Economists at the European Central Bank (ECB) have said the US corporate tax cut should lift the world's largest economy in the short term - but warned that it could erode the tax base in European countries by intensifying global competition for lower rates.