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The European Central Bank's President, Christine Lagarde, expressed concerns about the impact of higher funding costs on banks' profitability and the potential rise in non-performing loans amid low growth and higher rates. She also highlighted the need for policymakers to be alert to financial stability risks and stay proactive. Additionally, Governing Council member Robert Holzmann and Bundesbank President Joachim Nagel indicated that interest rate cuts are unlikely in the near future, with Holzmann emphasizing that the ECB can't call an end to rate hikes and Nagel expressing optimism about avoiding a hard landing of the economy.
ECB rate cut anytime soon is ‘highly improbable,’ Nagel says https://t.co/XoZN7CS1Dc via @WindSonja https://t.co/ik8WCPvhGr
An ECB interest rate cut won’t happen in the near future, according to Bundesbank President Joachim Nagel https://t.co/txznelWlF1
An ECB interest rate cut won’t happen in the near future, according to Bundesbank President Joachim Nagel https://t.co/KUNta4IS2k
🔴 ECB'S NAGEL: GEOPOLITICS MAKES THE INFLATION OUTLOOK MORE UNCERTAIN.
🔴 ECB'S NAGEL: THERE'S NO REASON TO RULE OUT A SMALL INCREASE IN MINIMUM RESERVES.
🔴 ECB'S NAGEL: IT'S TOO EARLY TO DECLARE VICTORY OVER INFLATION.
🔴 ECB'S NAGEL: IT IS HIGHLY IMPROBABLE THAT HIGH RATES WILL END ANYTIME SOON.
🔴 ECB'S NAGEL: I AM OPTIMISTIC THAT WE CAN AVOID A HARD LANDING OF THE ECONOMY.
🔴 ECB'S NAGEL: IT IS NOT CLEAR THAT WE'VE SEEN THE PEAK IN INTEREST RATES.
🔴 ECB'S NAGEL: IT WOULD BE UNWISE TO START CUTTING INTEREST RATES TOO SOON.
⚠️ ECB's Nagel calls for cut in interest paid on bank reserves https://t.co/b1vjX4emfv
🔴 ECB''S NAGEL: THERE CAN BE NO TALK OF OVERTIGHTENING.
ECB’s Holzmann says rate cut in 2nd quarter would be too soon https://t.co/s0Lf8teQP7 via @martoneder https://t.co/eboK6iTWWn
The ECB won’t cut interest rates anytime soon, Governing Council member Robert Holzmann said, adding that market expectations for a reduction are premature https://t.co/Od22naj2SB
💡 ECB’s Holzmann: Second Quarter of 2024 ‘a Bit Soon’ to Expect a First Rate Cut - @EconoStream on https://t.co/orvmA6Wqwk Full Story → https://t.co/hFtfCuHfk9 https://t.co/6GTN24fE2T
ECB WON'T CUT INTEREST RATES IN 2Q, HOLZMANN SAYS
The ECB won’t cut interest rates anytime soon, Governing Council member Robert Holzmann said, adding that market expectations for a reduction are premature https://t.co/7v6GBJNiSO
Banks in Europe are set to slash costs further as the earnings bonanza from higher interest rates fades https://t.co/TD0Z92LLju
🇪🇺 A new ECB story just out from @EconoStream. The gist of the story is: ECB’s Holzmann: Second Quarter of 2024 ‘a Bit Soon’ to Expect a First Rate Cut - Holzmann: Don’t want markets to think there won’t be another rate hike - Holzmann: Hope rate hikes over, but ‘also… https://t.co/aKFFJkJbNw
🔴 ECB'S HOLZMANN: THE ECB STILL CAN'T CALL END TO RATE HIKES.
🔴 ECB'S HOLZMANN: THE ECB WON'T CUT INTEREST RATES IN 2Q.
Banks in Europe are set to slash costs further as the earnings bonanza from higher interest rates fades https://t.co/XYBZBEIukT
Banks in Europe are set to slash costs further as the earnings bonanza from higher interest rates fades https://t.co/GBuOPWFyia
Traders are convinced that the ECB will sharply lower interest rates to cushion the economy from a severe slowdown https://t.co/jr5iNKvIiI
Traders are convinced that the ECB will sharply lower interest rates to cushion the economy from a severe slowdown https://t.co/iDePdQeu6X
Traders are convinced that the ECB will sharply lower interest rates to cushion the economy from a severe slowdown https://t.co/ZIJJR4WSea
🔴 ECB'S PRESIDENT LAGARDE: THERE ARE INCREASING SIGNS THAT THE GLOBAL ECONOMY IS FRAGMENTING INTO COMPETING BLOCS.
🔴 ECB'S PRESIDENT LAGARDE: A CAPITAL MARKETS UNION IS AN INDISPENSABLE PROJECT. CREATING A EUROPEAN SEC, FOR EXAMPLE BY EXTENDING THE POWERS OF ESMA, COULD BE THE ANSWER.
🔴 ECB'S PRESIDENT LAGARDE SPEECH ON 'A KANTIAN SHIFT FOR THE CAPITAL MARKETS UNION' https://t.co/S4kLN2dvRX
💡 ECB’s Holzmann: ‘Please Don’t Think That This Is the Last Rate Hike and There Won’t Be Any More’ - @EconoStream on https://t.co/orvmA6Wqwk Full Story → https://t.co/7kiaR8jiGp
🔴 ECB'S VILLEROY: RATE INCREASES OVERALL BENEFITED BANKS.
🔴 ECB'S PRESIDENT LAGARDE: NON PERFORMING LOANS COULD RISE AMID LOW GROWTH AND HIGHER RATES.
🔴 ECB'S PRESIDENT LAGARDE: IF EU BANKS' HOLDINGS OF FIXED-INCOME ASSETS NEED TO BE SOLD, THEY COULD BE MARKED DOWN DRASTICALLY.
🔴 ECB'S PRESIDENT LAGARDE: HIGHER FUNDING COSTS ARE WEIGHING ON BANKS' PROFITABILITY.
🔴 ECB'S PRESIDENT LAGARDE: POLICYMAKERS NEED TO STAY PROACTIVE.
🔴 ECB'S PRESIDENT LAGARDE: EUROPE’S FINANCIAL SYSTEM AVOIDED WORST-CASE SCENARIO.
🔴 ECB'S PRESIDENT LAGARDE: POLICYMAKERS NEED TO BE ALERT TO FINANCIAL STABILITY RISKS.
🔴 ECB'S PRESIDENT LAGARDE SPEECH AT ESRB. https://t.co/4tXHBuP1K9
🔴 ECB'S CENTENO: RATES WON'T DESIRABLY RETURN TO ZERO.