• Inflation has come down quite a lot
• Recent data on prices are heading towards our 2% goal
• If inflation converges towards our goal, then monetary policy will respond accordingly

This just reaffirms their current stance and market pricing for a rate cut in December. The question now is, how much will the ECB move by? The odds of a 25 bps rate cut are at ~63% with the remainder pinned to a 50 bps move instead.

The Reserve Bank today permitted startups to raise external commercial borrowings (ECBs) of up to USD 3 million in a financial year, a move aimed at boosting innovation and promoting job creation.

Bayer’s EcoCommercial Building Network, dedicated to bringing together varied disciplines in the pursuit of high-performance buildings, has expanded its expertise in the public sector for governmental and institutional projects.

ECB Classic and ECB 75 are self-adhering, sheet-applied elastomeric membranes designed for use under floor surfaces that require protection from structural movement.

• The pace of the moves depends on the data
• We are data dependent but not data point dependent
• Growth outlook has deteriorated due to manufacturing sector
• If disinflation stays on track, it would make a case for further rate cuts
• We could be leaving restrictive territory in the spring of 2025
• The last thing we need now is yet another trade war
• Tariffs impact will be medium-to-long term
• Protectionism by definition is inflationary

The remarks are as you would expect from the ECB at this current stage. But they are already starting to recognise the potential impact of Trump tariffs and that's a warning signal to the outlook for next year I guess.

• Euro area growth is projected to be sluggish
• Sees downside risks to growth
• Waiting on December projections for a better picture of where we stand

So far, he's not saying anything to jolt market pricing. And that's the other main consideration for any of their communications before making policy decisions. As such, a 25 bps rate cut in December remains the likeliest option at this stage. EUR/USD remains down 0.2% on the day at 1.0626 currently.

Deutsche Bank has revised its forecast for the European Central Bank’s (ECB) terminal rate, lowering its central-case projection from 2.25% to 1.50%. The bank now anticipates the ECB’s policy rate will dip slightly below the neutral rate by the end of 2025, rather than returning to neutral by mid-year as previously expected.

This shift in outlook is driven by several factors, including the potential for new tariffs from a Trump administration, which would likely impact trade, along with weaker macroeconomic performance in Europe and the increasing risk of inflation falling below target.

According to Deutsche Bank, the uncertainty surrounding these dynamics is considerable, especially given the unclear timing and effects of U.S. tariffs and potential European responses. Reflecting this uncertainty, the bank has outlined a broad target range of 1.00% to 1.75% for the ECB’s terminal rate.

Deutsche Bank notes that the terminal rate’s trajectory and ultimate level will depend on key influences such as:

1. European fiscal policy,
2. the economic health of Germany,
3. developments in China,
4. and fluctuations in oil prices.

The bank further suggests that the global economy may be entering a new phase, with Europe potentially experiencing increasingly divergent economic conditions compared to the U.S.

• Expects inflation to moderate in France
• Expects French unemployment rate to go up to around 8% before falling back

He is speaking somewhat in his capacity as Bank of France governor here. And the remarks aren't anything that stand out. As things stand, traders have fully priced in a rate cut for December. The odds of a 25 bps move are at ~68% with the remainder tied to a 50 bps rate cut.

• There are still noticeable price pressures, especially in services sector
• Trump's tariffs may cause German economy to contract
• If tariffs come into effect, it could cost Germany 1% in economic output

And therein lies the dilemma for the ECB heading into next year I guess. The good news is that the disinflation process is still progressing, albeit with a few bumps along the way. All else being equal, the argument for further rate cuts should hold heading into 2025.

Member of the European Central Bank (ECB) Governing Council and Bank of France Governor Francois Villeroy de Galhau indicated on Wednesday that more interest rate cuts could be on the horizon, noting ...

More European Central Bank interest rate cuts are coming and the deposit rate could hit the so-called neutral level in the first half of next year, Finnish central bank chief Olli Rehn said on Tuesday. The ECB has already cut rates three times this year as prices have fallen and further cuts at each of […]

India Inc must tap foreign funds with caution

A smart response would be for the EU to address the problems of the eurozone head on

Radlett Cricket Club head groundsman Nick Searle has received a commendation in this year’s annual ECB Groundsman of the Year Awards.

Covid-19 outbreak: ECB unveils stimulus boost to overcome virus shock

The decision did not apply to the ECB's PEPP coronavirus pandemic-fighting programme.

Germany's top court on Tuesday ruled against the European Central Bank's bond purchases and gave the bank three months to explain how the scheme can be justified.

European Central Bank Vice-President Luis de Guindos and Governing Council member Gabriel Makhlouf said separately on Thursday that the central bank was more determined to support the euro area economy during crisis periods and the bank stands ready to adjust all tools at its disposal, just days after the top German court ruled that the bank's government debt purchases were in violation of its mandate.

Vitor Constâncio spent eight years as the vice president of the European Central Bank. In an interview, he explains why not him or outgoing ECB head Mario Draghi are to blame for negative interest rates in the eurozone.

The European Union's top court has said it alone has the power to decide whether EU bodies are breaching the bloc's rules, in a rebuke to Germany's highest court, which this week rejected its judgment approving the ECB's trillion-euro bond purchases.

The ECB has announced a financial package to help cricket clubs amid the coronavirus crisis.

The ECB intends for women to play international and domestic cricket this summer but is "realistic" about the impact of coronavirus, says Clare Connor.

The England and Wales Cricket Board could have been faster to act on England's World Cup win in 2017, says Middlesex captain Naomi Dattani.

18 March 2020

18 March 2020

18 March 2020

18 March 2020

18 March 2020

Introductory statement by Ms Christine Lagarde, President of the European Central Bank, and Mr Luis de Guindos, Vice-President of the European Central Bank, Frankfurt am Main, 30 April 2020.

European Central Bank Working Papers by Fabian Eser, Peter Karadi, Philip R. Lane, Laura Moretti and Chiara Osbat

The ECB took to Twitter to share a throwback video of Virat Kohli's dismissal from India's 2018 tour of England.

World stocks headed for their best month on record Thursday, as encouraging early results from a COVID-19 treatment trial and expectations of more European Central Bank (ECB) stimulus later in the day helped ease the pain of February and March.

RBI extends window for External Commercial Borrowings (ECB) for Civil Aviation Sector

BRUSSELS: The EU’s highest court on Friday said it alone had legal authority over the European Central Bank, firmly rejecting a German Constitutional Court ruling critical of the bank’s ambitious stimulus policies.The highly unusual intervention came after the German ruling issued...

ABSTRACT

The opportunistic bacterium Pseudomonas aeruginosa produces the fucose-specific lectin LecB, which has been identified as a virulence factor. LecB has a tetrameric structure with four opposing binding sites and has been shown to act as a cross-linker. Here, we demonstrate that LecB strongly binds to the glycosylated moieties of β1-integrins on the basolateral plasma membrane of epithelial cells and causes rapid integrin endocytosis. Whereas internalized integrins were degraded via a lysosomal pathway, washout of LecB restored integrin cell surface localization, thus indicating a specific and direct action of LecB on integrins to bring about their endocytosis. Interestingly, LecB was able to trigger uptake of active and inactive β1-integrins and also of complete α3β1-integrin–laminin complexes. We provide a mechanistic explanation for this unique endocytic process by showing that LecB has the additional ability to recognize fucose-bearing glycosphingolipids and causes the formation of membrane invaginations on giant unilamellar vesicles. In cells, LecB recruited integrins to these invaginations by cross-linking integrins and glycosphingolipids. In epithelial wound healing assays, LecB specifically cleared integrins from the surface of cells located at the wound edge and blocked cell migration and wound healing in a dose-dependent manner. Moreover, the wild-type P. aeruginosa strain PAO1 was able to loosen cell-substrate adhesion in order to crawl underneath exposed cells, whereas knockout of LecB significantly reduced crawling events. Based on these results, we suggest that LecB has a role in disseminating bacteria along the cell-basement membrane interface.

IMPORTANCE Pseudomonas aeruginosa is a ubiquitous environmental bacterium that is one of the leading causes of nosocomial infections. P. aeruginosa is able to switch between planktonic, intracellular, and biofilm-based lifestyles, which allows it to evade the immune system as well as antibiotic treatment. Hence, alternatives to antibiotic treatment are urgently required to combat P. aeruginosa infections. Lectins, like the fucose-specific LecB, are promising targets, because removal of LecB resulted in decreased virulence in mouse models. Currently, several research groups are developing LecB inhibitors. However, the role of LecB in host-pathogen interactions is not well understood. The significance of our research is in identifying cellular mechanisms of how LecB facilitates P. aeruginosa infection. We introduce LecB as a new member of the list of bacterial molecules that bind integrins and show that P. aeruginosa can move forward underneath attached epithelial cells by loosening cell-basement membrane attachment in a LecB-dependent manner.

Volker Wieland, endowed chair of monetary economics at the Institute for Monetary and Financial Stability, discusses the impending verdict on whether the ECB's public sector purchase program is legal under German law.

Lorenzo Bini Smaghi, chairman of Societe Generale and former member of the ECB's executive board, discusses the German constitutional court's call for the European Central Bank to justify its bond-buying program.

Vitor Constancio, former vice president of the ECB, discusses the German constitutional court's ruling on the European Central Bank's bond-buying program.

European debt holders are cautiously awaiting a ruling from a German court, which could impact how the ECB faces the ongoing economic crisis.

Germany's constitutional court threatened to block fresh purchases of German bonds through the European Central Bank's program.

Christine Lagarde says there could be a 15% collapse after record first quarter output fall

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The head of the European Central Bank has warned that the eurozone could be on course for a 15% collapse in output in the second quarter as evidence of the economic toll caused by Covid-19 pandemic started to emerge, with France and Italy falling into recession.

After news that the 19-nation monetary union area had contracted a record 3.8% in the first three months of 2020, Christine Lagarde said much worse was possible in the April to June period, when the impact of lockdown restrictions would be most severe.

Related: Eurozone shrinking as Covid-19 lockdowns push Italy and France into recession - business live

The Reserve Bank today permitted startups to raise external commercial borrowings (ECBs) of up to USD 3 million in a financial year, a move aimed at boosting innovation and promoting job creation.