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...Eurozone banks reported a “substantial” drop in loan demand from companies, prompting calls for the European Central Bank to signal it will cut interest rates soon when it meets this week....
...Investors have seemed relatively unperturbed about Rome’s debt issues, helped by the European Central Bank buying the bonds of Italy and other governments until the end of this year and its scheme to buy...
...At some point, this risks leaving lenders without sufficient reserves and could cause unwanted volatility in short-term borrowing costs and even a credit crunch....
...“But we should remain proportionate going forward given an economy that has stagnated for 18 months, risks to the economic outlook that are skewed to the downside, and credit conditions that are in restrictive...
...Trying to copy the US Inflation Reduction Act, a package that includes $369bn of subsidies and tax credits for clean energy technologies, would permanently knock 0.6 per cent off EU gross domestic product...
...Macron also wanted the European Central Bank’s monetary policy to no longer be driven only by inflation targets, given how the fight against climate change will drive up energy prices....
...The €12.2bn monthly drop in eurozone private sector lending in January, reported by the European Central Bank on Tuesday, is the first such decline since August....
...The sharp slowdown in eurozone bank lending stabilised in October after a pick-up in monthly credit flows for mortgages, according to data from the European Central Bank....
...If the Reagan‑Thatcher revolution was about crushing union power, the pendulum seems to be shifting in favour of labour. Unions are changing too....
...Back in March 2022, EU leaders committed to set deadlines for phasing out export credit to fossil fuels by December 2023....
...China’s “credit impulse” — the change in the flow of credit — was a “headwind for growth for much of the last year” but has now moved back into positive territory, BofA’s analysts said....
...Many believe that regional economies that are performing slightly better than feared means a more painful recession can be avoided, while falling inflation will allow central banks to cut interest rates,...
...Credit Suisse’s takeover by UBS last March marked the first demise of a globally systemic lender since the financial crisis....
...No more foreign credit causes the economy to collapse. However, before, during and after the invasion, the value of Russia’s exports has far exceeded what it pays for imports....
...But once these artifices were no longer possible with the process of convergence towards monetary union, GDP stopped growing....
...Hopes last week of a ceasefire deal ahead of the start of Ramadan this coming Sunday — or for that matter Biden’s State of the Union address on Thursday — have fizzled....
...Italian bonds rallied on Monday after Rome avoided a potential downgrade of its credit rating to “junk” status, in a boost to Prime Minister Giorgia Meloni’s right-wing coalition government....
...Extreme weather risked causing “reduced tax revenues, increased government expenditure, lower credit ratings and increased cost of borrowing”, it added....
...The European Central Bank last month paused its recent series of interest rate hikes designed to fight inflation....
...The European Union’s Mortgage Credit Directive formalised the EU’s position that borrowers should have the right to convert loans to the currency in which the borrower receives their income, or that there...
...There are signs this could keep rising, including a union demand in Germany for a €500-per-month wage increase for the country’s almost 1mn construction workers — equivalent to a 21 per cent pay rise for...
...The divergence between European and US credit spreads has played out primarily at the weakest end of the credit quality spectrum....
...Larger, healthy banks can extend more credit, which supports companies and overall economic growth....
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