In a news conference, Federal Reserve chairman Jerome Powell said the epidemic was having a “profound” impact on the economy, forcing whole industries like travel and leisure offline.
Asian shares hit five-week highs, wager all on dovish Fed; US-China meet end of month revive trade hopes
Asian shares hit five-week highs on Wednesday as investors hoped the Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day
For India, instead of the RBI, it is the government which can be more effective in stimulating demand
Concerned at the withdrawals, the Bank of Greece asked the ECB's Governing Council to add an extra €6 billion to an 89-billion-euro emergency credit line on Sunday, to cover the expected shortfall of cash.
The European Central Bank's news conference was briefly interrupted when a young woman from FEMEN charged at ECB chief Mario Draghi calling for an "end to the ECB dictatorship". She jumped onto the podium where Draghi was seated but was quickly apprehended and escorted out of the premises before the news conference resumed.
The ECB has decided to buy bonds worth € 60 billion ($69 billion) every month from March 2015 to September 2016. This bond buying is referred to as “asset purchases” by central banks, “quantitative easing” by most of the Western press and economists and “money printing” by people who want to call a spade a spade.
Draghi said at a news conference following the ECB's monetary policy meeting that governing council members had been "unanimous in stating that the asset purchase programme is a true monetary policy tool in a legal sense".
World shares headed for a second week of gains on Friday after more reassuring U.S. data, while the yen pulled out of its dive as Japan's finance minister warned its recent weakening had been "too rapid".<br />
The ECB cut its main refinancing rate to 0.05 percent from 0.15 percent.
The groundbreaking call by European Central Bank President Mario Draghi for more action on both the monetary and fiscal fronts has markets wagering that fresh steps could come as soon as next week when the central bank's governing council meets.<br />
The ECB cut interest rates to record lows in June, became the first major central bank to charge banks for holding their deposits overnight and launched a new ultra-cheap, four-year loan programme, dubbed TLTROs, to be rolled out later this year.<br />
The European Central Bank, or ECB, on Thursday revised its 2013 forecast for the eurozone downward, with the area's economy now expected to contract 0.40 percent.
European Central Bank President Mario Draghi offered a vigorous defence of the bank's bond-buying plans to a sceptical German audience on Tuesday and said it was now up to governments to follow up with decisive policy steps of their own.
The European Central Bank will not set a limit on how much sovereign debt it can buy under its new bond-buying programme and will not expect better treatment than other creditors as it has in the past
Annual eurozone inflation accelerated to 2.6 percent in August from 2.4 percent in July, coming in stronger than expected and further above the ECB's target of just below 2 percent.
European Central Bank chief Mario Draghi faces the most decisive moment of his presidency on Thursday when he tries to heal divisions among policymakers and deliver on his promise to save the euro.
The eurozone is inching towards a new plan to tackle its debt crisis in a three-dimensional game of chicken among all the main players.