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Tag Archives: ECB

ECB Set to Launch CBDC Market Settlement Trials by 2024

As research continues into a possible digital euro, the ECB plans to begin trials that settle transactions using a CBDC. The European Central Bank will begin trials on market transaction settlements using distributed ledger technology (DLT) via a central bank digital currency (CBDC). The ECB’s readiness to begin the CBDC trials and experimentation follows the first meeting of the New Technologies for Wholesale Settlement Contact Group (NTW-CG). The minutes of the meeting explored...

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Leaked Digital Euro Bill Supports Offline Usability, Shuns Interests

The potential issuance of fiat currency in digital form has garnered global attention, with various jurisdictions exploring the concept. The EU, the US, and the UK are among those actively considering the implementation of a CBDC.  A leaked draft of the proposed Digital Euro Bill, set to be proposed by the European Commission on June 28, reveals several significant provisions that aim to shape the future of the Central Bank Digital Currency (CBDC). The draft bill, seen by CoinDesk,...

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European Central Bank (ECB) Will Soon End Its Interest Rate Hiking Cycle as Inflation Slows

As inflation slows, the European Central Bank (ECB) may halt future rate hikes, with the upcoming staff projections and rate decision playing a crucial role in determining the bank’s approach. Central banks across the world have been hiking interest rates in order to tame the soaring inflation. However, as inflation shows signs of slowing down, the European Central Bank (ECB) could soon bring an end to future rate hikes. The ECB is likely to increase its benchmark policy by an additional...

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Europe Stocks Climb Higher after US Congress Approve Bill to Increase Debt Ceiling

Stocks in Europe and Asia have risen in response to the debt ceiling increase approved by lawmakers in the US. Stocks in Europe opened higher today after the US Senate approved a bill to suspend the government’s debt ceiling. Following a 63-36 vote, US lawmakers agreed to raise the debt ceiling to prevent the country’s first-ever debt default. Congress has now sent the approval to President Joe Biden for assent. As of 9:30 am London time this morning, the STOXX Europe 600 climbed 0.7%...

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European Central Bank (ECB) Finalizes Digital Euro Prototype Ahead of Potential CBDC Launch

The ECB has finalized its digital euro prototype scheme as it mulls whether to roll out the government-backed token.  The European Central Bank (ECB) has finalized a digital euro prototype ahead of a development decision. Later this year, the leading central bank would decide whether to develop the fiat euro as a digital variant. According to a Friday report, the ECB examined distributed ledger technology and smart contracts as prime components of a potential digital euro. However, the...

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ECB Announces 7th Consecutive Interest Rate Hike of 25 Basis Points after Eurozone Inflation Climbs 7% in April

On Thursday, the ECB increased interest rates for the seventh consecutive time, with the latest figure aligning with analysts’ predictions.   The European Central Bank (ECB) has hiked interest rates for a seventh consecutive time as its war against inflation wages on. Today, the eurozone central bank hiked rates by 25 basis points as expected following its May policy meeting. The latest rate hike decision also sees the main refinancing operations’ interest rate increased to 3.75%. In...

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European Market Shakes Off Recession Fears but Misses Q1 2023 Growth Estimates

The European market recorded a gross domestic product (GDP) of 0.0 percent in the first quarter of 2023 compared with the fourth quarter of 2022. The European economy displayed market resilience during the first quarter despite being cut off from the Russian oil and gas supply since the invasion of Ukraine. The EU market was, however, marred by rising inflation amid bank deposits flight similar to the United States banking crisis. Nonetheless, the European Central Bank has continued to...

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ECB Raises Interest Rates by Half Percentage Point amid Financial Sector Woes

After much thought, the ECB has increased interest rates by 50 basis points to stem sustainably high inflation.  The European Central Bank (ECB) recently hiked interest rates by another half a percentage point following today’s Frankfurt meeting. The ECB’s latest rate hike comes amid financial woes in the US and European banking sectors, with stocks taking a hammering. However, the Eurosystem’s banking arm deemed the increase necessary in a press release earlier today. The publication...

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