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European Central Bank
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European Central Bank

European Central Bank
European Central Bank
The European Central Bank was established by the Treaty of Amsterdam in 1998 and is headquartered in Frankfurt, Germany. The objective of the bank is to maintain price stability within the euro zone.
Japan’s 10-year government bond yield, seen on a screen outside a brokerage in Tokyo on January 21, touched its highest in a century this month. Photo: Reuters
Japan

Macroscope | Could Japan stop being the ballast of the bond market?

A lower house election victory would give flight to Prime Minister Takaichi’s fiscal expansionism – and introduce upheaval far beyond Japan.

China-EU relations

European leaders say the quiet part out loud: order no longer constrains power

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China-EU relations

Opinion | EU-China ties are stuck between interdependence and rivalry

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China-EU relations

Why China and Europe need to talk and how they can cope with chaos

Joerg Wuttke lays blame on both sides for troubled relations and calls for a new Manhattan Project to break Chinese dominance on rare earths.

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EU-China tensions have been rising over critical mineral supplies, investment and security. Photo: Shutterstock
France

French PM sacrifices Macron’s pension reform to avert government collapse

Sebastien Lecorn’s proposal wins Socialist support and seems to stave off a no-confidence vote threat.

China-EU relations

Europe’s 3-body problem: collapsing global order sparks hunt for new trajectory

Some are sceptical the EU’s talk of ‘economic security’ can translate into action, but there are early signs that may be changing.

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China-EU relations

Why new EU steel tariffs to curb Chinese imports are giving carmakers a headache

Proposal to cut tariff-free quotas, double duties for imported steel triggers sell-off in Europe’s auto stocks, complaints from industry group.

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German Chancellor Friedrich Merz (left) is introduced to a BMW iX3 car by BMW CEO Oliver Zipse (centre) at a motor show in Munich. European auto manufacturers have been hit hard by EU steel tariffs. Photo: AFP
Hong Kong economy

Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

United States

Lagarde warns Trump’s Fed meddling poses ‘serious danger’ to world economy

European Central Bank Christine Lagarde stressed that central bank independence is vital for economic stability and price stability.

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Central banks

Macroscope | Central banks rush to gold as fears of US dollar crisis mount

Central bank gold holdings are now back to where they were in the 1960s, before gold went out of official fashion.

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A goldsmith examines ornaments at the Hua Seng Heng gold shop in Bangkok on June 23. Thailand’s gold prices continue to surge, rising in line with the global market following US air strikes on Iran amid the Israel-Iran conflict, according to The Gold Traders Association. Photo: EPA-EFE
Yuan

China’s yuan fixing rate hits 2-month high as US dollar drops

With the US dollar sagging, China’s central bank has strengthened the midpoint rate for the country’s currency in recent days.

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China’s yuan fixing rate has been strengthened in the wake of a weakening US dollar. Photo: AFP
US-China trade war

Will US dollar doubts, risk of ‘triple whammy’ give rise to yuan’s renaissance?

In the wake of tariff turmoil and Washington’s ‘Big Beautiful Bill’, analysts are questioning safety of US assets while yuan’s resilience turns heads.

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China-EU relations

EU to impose US$2.25 fee on cheap parcels, mostly from China

The move is meant to help the bloc deal with an influx of billions of inexpensive imports via platforms like Shein and Temu.

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Electric & new energy vehicles

Exclusive | Stellantis, Leapmotor near decision on European production

Leapmotor says production costs likely to rise by 10 per cent compared with former Poland plant, but has no plans to raise prices.

A Leapmotor facility in Jinhua, China. Photo: AFP
Banking & finance

Moody’s downgrade, US debt fears revive mini ‘sell America’ trade

Rating downgrade risks reinforcing Wall Street’s growing worries over the US sovereign bond market.

Traders on the floor of the New York Stock Exchange. Photo: Getty Images via AFP
Central banks

Fed’s Powell is about to defy Trump and hold rates steady

With their eye on inflation, officials are inclined to hold rates steady when they meet in Washington, defying Trump’s pressure to cut interest rates.

European Union

ECB cuts interest rates for 7th time in a row amid global trade tension

The cut was widely expected by analysts given the sudden shadow cast by Trump’s April 2 announcement of unexpectedly high tariffs.

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Donald Trump

Trump slams US Fed chair Powell, urges ‘termination’ for slowness

It was not immediately clear if Trump was referring to the scheduled end of Powell’s term, or if Trump was seeking to remove Powell as chair.

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US Federal Reserve Chair Jerome Powell speaks at the Economic Club of Chicago on Wednesday. Photo: AFP
European Union

EU finance chief casts doubt on new UK clearing deadline

The comments came days before the EU announced it adopted a decision to extend an exemption to July 2028 that grants UK clearing access.

United States

Opinion | With Trump 2.0, it will be every country for itself

Given Trump’s policy direction, the only conclusion for realists is that self-strengthening must be the main thrust in a fragmenting world order.

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China-EU relations

Defend euro as China, Russia push for alternative currency: Europe’s bank chief

Next US leader also urged to weigh negative impacts of American and EU trade ‘restrictions and barriers’ on economic growth and inflation.

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European Central Bank President Christine Lagarde takes part in an annual meeting of the International Monetary Fund in Washington on Tuesday. Photo: EPA-EFE
International Monetary Fund (IMF)

As global debt nears US$100 trillion, IMF urges action

International Monetary Fund economists warn that failure to address rising debt could lead to ‘significant spillovers’ for the world economy.

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The International Monetary Fund (IMF) logo is seen outside its headquarters in Washington. Photo: Reuters
China-EU relations

EU must tackle China, US threats without being protectionist: Draghi

Italian prime minister delivered the strong message just weeks after warning in a report that Europe faced ‘existential’ challenges.

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Banking & finance

Macroscope | Can central banks really prevent a repeat of the Great Depression?

As we wrestle with challenges similar to those before the 1920s slump, let’s not rely on central bankers to save us from economic calamity.

Interest rates

July’s inflation blip will do little to derail US Fed’s September rate cut

The recent easing of price pressures has bolstered Fed officials’ confidence that they can start to lower borrowing costs while refocusing their attention on the labour market.

A supermarket in Montebello, California, on May 15, 2024. Photo: AFP
Banking & finance

Open Questions | 3 mega economic trends for China and the world, EU economist says

European economist Rolf Strauch touches on climate change, demographic, geoeconomic fragmentation and financial challenges for the global economy.

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Illustration: Lau Ka-kuen
Banking & finance

HKMA to join European test of cross-border payments on tokenised assets

An agreement with France’s central bank will make HKMA the first non-European participant in tests of the European Central Bank’s Eurosystem, which is exploring cross-border money transfer and settlement for tokenised assets.

International Property

Europe’s distressed properties favoured by global funds, Japan buyers: Patron

Distressed properties in Europe are presenting opportunistic gains for global investors because of supply and demand imbalances and pressure from high borrowing costs, UK-based Patron Capital Partners says.

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