• 2016-05-09 09:40

    - Sees Benchmark Allotment At -E506.5 billion Based on May 9 Forecast

    FRANKFURT (MNI) - The European Central Bank called for bids Monday for a seven-day refinancing operation at a fixed rate of 0.00%.

    It said that based on its liquidity forecast, the benchmark allotment amounts to -E506.5 billion. The central bank also said that the average autonomous factors for the period between May 9 and May 17 are estimated at E655.9 billion.

    Bids for the new refinancing operation are due by 0830 GMT Tuesday.

    --MNI London Bureau; tel: +44 207-862-7435; email:

    [TOPICS: M$X$$$,M$$EC$,MN$MM$]

  • 2016-05-09 06:32

    By Martin Baccardax

    LONDON (MNI) - European Central Bank Vice President Vitor Constancio said Monday that higher US interest rates would play a key factor in global economic confidence.

    Speaking on the sidelines of the City Week 2016 financial conference in London, Constancio said an upward path of Federal Reserve rates would lift "animal spirits" in the world's biggest economy and address some of the critical issues facing growth and inflation prospects in the both Eurozone and around the world.

    He dismissed suggestions, however, that the ECB would welcome the corresponding decline in the euro exchange rate that would likely follow US rate hikes, telling reporters that this was not a function of the Bank's policy tools and that he and his colleagues were concerned about

  • 2016-05-09 05:25

    By Martin Baccardax

    LONDON (MNI) - European Central Bank Vice President member Vitor Constancio said Monday that the Bank remains determined to pursue its expansionary monetary policies.

    In prepared remarks for a speech in London as part of the City Week 2016 financial conference, Constancio also stressed that currency area member states needed to support the Bank's accommodative stance with growth-friendly structural and fiscal reforms and the completion of the region's banking union.

    "Besides the ECB's determination to pursue its expansionary policies, other actors need to do their part in order to deliver a sustainable recovery and boost the productive capacity of countries," Constancio said.

    "The continuation of our accommodative monetary policy needs to be sup

  • 2016-05-09 03:56

    - April Halifax House Price Index -0.8% m/m; +9.2% 3m/3m y/y

    LONDON (MNI) - UK house prices fell in April on a monthly basis, data released Monday shows, and also slowed on a rolling three-month annualised basis from the March levels.

    The Halifax House Price Index fell 0.8% on the month, to stand up 9.2% in the three months through March on the same period a year ago. The quarterly growth rate also slowed, rising 1.5%, above both the 2.9% recorded in March and the 3.0% recorded in the three months to February.

    In March, prices rose 2.2% on month and 10.1% on a rolling three-month annualised basis.

  • 2016-05-09 02:00

    By Steven Arons

    FRANKFURT (MNI) - Germany's manufacturing orders rebounded markedly in the third month of the year, data from the federal statistical office Destatis showed Monday, perhaps indicating that an anticipated industrial slowdown in the second quarter could be less pronounced than previously expected.

    Orders rose by 1.9% on the previous month in adjusted terms, the strongest monthly increase since last June.

  • 2016-05-06 06:55

    By Martin Baccardax

    LONDON (MNI) - European investors will look to a key series of economic data releases this week to gauge the strength of the region's fragile recovery as the European Central Bank appears content to ride out the summer months and monitor the impact of its myriad policy measures.

    Eurostat will publish its 'flash' estimate for first quarter currency area growth Friday (11:00 CET), just one week after its newly-calculated 'pre-preliminary' release indicated that growth accelerated at the fastest pace in a year, helped by stronger performances in big economies like in France and Spain.

    GDP growth in the single-currency bloc increased by 0.6% in the quarter, double the 0.3% in last year's fourth quarter and well above the 0.4% median estimate of economists

  • 2016-05-06 04:14

    - April Car Registrations Up 2.0% y/y

    LONDON (MNI) - UK new car registrations were again higher in April on year ago numbers, data released Wednesday showed.

    The Society of Motor Manufacturers and Traders data showed April sales rose 2.0% over those in March 2015. A total of 189,505 new cars were registered in April, the highest April number since 2003.

    However, the SMMT again warned that the political outlook could weigh going forward, with the group already issuing its support for the UK remaining in the EU.

    Commenting on the data, SMMT Chief Executive Mike Hawes said "After such a strong March, April's steadier performance was to be anticipated, and is in line with our expectations for the year.

  • 2016-05-05 05:01

    -UK Mar Service Sector PMI 52.3 Versus 53.7 In March

    LONDON (MNI) - UK service sector activity slowed in March, falling to the lowest level seen since February 2013, a survey released Wednesday showed.

    The April CIPS survey from Markit showed the headline service index fell to 52.3 from 53.7, below analysts forecasts.

    Chris Williamson, chief economist at Markit, said the slowdown in the service sector followed similar weakness in manufacturing and construction, giving a triple whammy of disappointing news on the health of the economy at the start of the second quarter.

    "Some of the slowdown may be attributable to the early timing of Easter, though April also saw an increase in the number of companies reporting that uncertainty about the EU referendum caused customer

  • 2016-05-04 17:01

    --Estimates Vary But Timeline Anyone's Guess

    WASHINGTON (MNI) - In the interconnected global economy, negative interest rates in Japan and the euro area create more demand for the positive yield of U.S. treasuries, holding down interest rates despite Federal Reserve intentions to raise them - and softening the cost of servicing the $19.2 trillion U.S. national debt.

    The capital flows that bind the U.S., Japan and Europe are among many reflected in a kaleidoscope of U.S.

  • 2016-05-04 12:46

    LONDON (MNI) - The following is the full text of a release, published Wednesday by the European Central Bank in Frankfurt, on its decision to discontinue the production and issuance of E500 banknotes

    Europa series of euro banknotes will not include the E500

    E500 banknote remains legal tender and will always retain its value

    Today the Governing Council of the European Central Bank (ECB) concluded a review of the denominational structure of the Europa series. It has decided to permanently stop producing the E500 banknote and to exclude it from the Europa series, taking into account concerns that this banknote could facilitate illicit activities.