The European Central Bank (ECB) published the legal act for purchases of asset-backed securities, setting it up to start buying the debt as soon as today.

Europe’s two top central banks must turn talk of reviving the securitised debt market to fund economic growth into speedy action, a top banking lobby said yesterday.

Vitor Constancio said any policies announced by the ECB in June will complement each other.

Mario Draghi could end the search for an asset worth buying if he would only turn to the euro area’s jointly issued crisis bonds.

The ECB is preparing multiple measures against too-low inflation that could be used as soon as next month, policymakers said.

The policy credited with halting the euro crisis — outright monetary transactions — is likely to exceed the European Central Bank’s remit and violate German law according to the German constitutional court.

European Central Bank president Mario Draghi put his weight behind a EU banking union in a trip to Berlin yesterday, two days after Germany led an attack on a proposal to centralise control of failing lenders.

ECB president Mario Draghi has said the bank is considering buying asset-backed securities among possible options to support lending to SMEs.

Europe’s stalled economy will not get more help today from the European Central Bank, which is expected to hold off cutting interest rates as it waits for financial markets to heal so that its already low benchmark rates get through to businesses and consumers.

The ECB will keep interest rates unchanged this week, economists forecast in a Reuters poll, but they cannot agree on the chances of a cut in the next few months due to a murky economic outlook.

European Union leaders have given Luxembourg’s top banker a place on the executive board of the European Central Bank, overriding the advice of parliament, which had wanted a woman for the job.

Eurozone countries will be asked by the European Parliament to nominate a new member of the European Central Bank executive board — and ensure the candidate is female.

EUROPEAN Central Bank Governing Council member Yves Mersch said the euro area will need a new institution to monitor fiscal policies.

INTEREST rates could be cut before the end of the year, but many expect the European Central Bank (ECB) to keep them on hold next week.

FEARS have intensified that the European Central Bank (ECB) will definitely hike interest rates next month, resulting in increased mortgage charges for many house owners.

THE pound and the dollar continued to fall against the euro yesterday but small firms will suffer if the euro continues to grow in strength.

IRISH bank borrowings from the European Central Bank (ECB) have doubled over the past 12 months to a record €44.1 billion and they face tougher lending conditions in the coming weeks.

EUROPEAN Central Bank council members including Axel Weber and Yves Mersch said the surge in oil prices risks pushing up inflation as economic growth accelerates, indicating the bank is poised to raise interest rates.

THE European Central Bank will delay lowering interest rates until June as it seeks more evidence on the effects of the Iraq war on the world’s second-largest economic region, according to a survey of economists.

TOP European Central Bank figures clashed yesterday over the future direction of ECB interest rate policy.