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FRANKFURT, Germany: The European Central Bank spent €14.3 billion ($20.6 billion) last week buying government bonds to protect large economies like Spain and Italy from the debt crisis, but market concerns persisted about how long the emergency purchases would contain market turmoil.
IT seemed like good news for Europe when Sharon Donnery, deputy governor of the Irish central bank, made an application to be the top banking supervisor at the European Central Bank.
FRANKFURT: The European Central Bank cut interest rates to a record low on Thursday to breathe life into a deteriorating euro zone economy and back up measures agreed by government leaders last week to tackle the bloc's debt crisis.
German Chancellor Gerhard Schroeder suggested in an interview published Friday that the European Central Bank should do more to weaken the euro against the U.S. dollar, a call that followed the bank's decision to leave interest rates unchanged.
LUXEMBOURG: The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its spectacular infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone's struggling economy.
European Central Bank President Jean-Claude Trichet said Tuesday that Europe's move toward a single market was on track despite recent no'' votes in France and the Netherlands on the EU constitution.
The European Central Bank left interest rates unchanged, with poor fourth-quarter growth data and declining business confidence heightening worries about the strength of the economy.
LONDON: European Central Bank (ECB) president Mario Draghi faces a trickier-than-usual balancing act at this week’s meeting to set monetary policy. Lurking at the back of his mind may well be the memory of the last time his institution tried to change course – with embarrassing results.