ECB has room to raise rates further but should proceed with caution, De Cos says
Thursday, November 17, 2022
© Reuters. FILE PHOTO: The European Central Bank (ECB) headquarters is pictured in Frankfurt, Germany, December 8, 2016. REUTERS/Ralph Orlowski MADRID (Reuters) - The European Central Bank still has some way to go in tightening policy but should proceed with caution and calculate with a greater chance of a recession, policymaker Pablo Hernandez de Cos said on Wednesday.
"Given the high degree of uncertainty of the inflation and economic outlook, the specific level that interest rates may have to reach to be consistent with this objective is uncertain, as it is entirely data-dependent and may change over time," De Cos told a financial event in Madrid.
The ECB has increased rates at its fastest pace on record, hiking them by a combined 200 basis points to 1.5% in just three months. Despite the rapid pace, markets still expect the bank to hike rates further to tame sharp, broad-based inflation.
De Cos added that the inflation spike was proving highly persistent, had also broadened and was causing a rapid loss of purchasing power and deteriorating consumer confidence in the euro area.
"Both households and businesses are facing a highly uncertain environment due to the consequences of the war in Ukraine and, in particular, the energy crisis," De Cos said.
The Bank of Spain Governor also said that the balance sheet reduction in the euro area should be "very gradual and predictable".
"It is also essential that balance sheet reductions leave room for action against fragmentation if it reappears, whether either through flexibility in PEPP reinvestments or through activation of the TPI, should this prove justified and necessary," the central banker said.
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07-12-2023 07:54:20 (UTC+7)
EUR/USD
1.0770
+0.0008 (+0.08%)
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EUR/USD
1.0770
+0.0008 (+0.08%)
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GBP/USD
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AUD/USD
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USD/CAD
1.3591
-0.0001 (-0.00%)
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EUR/JPY
158.33
-0.23 (-0.15%)
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EUR/CHF
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0.0000 (0.00%)
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Gold Futures
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Silver Futures
24.282
+0.054 (+0.22%)
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Crude Oil WTI Futures
69.57
+0.19 (+0.27%)
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Brent Oil Futures
74.30
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Euro Stoxx 50
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+30.98 (+0.70%)
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S&P 500
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-17.84 (-0.39%)
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DAX
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+123.33 (+0.75%)
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FTSE 100
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+25.54 (+0.34%)
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16,474.00
+168.50 (+1.03%)
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US Small Cap 2000
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-4.79 (-0.26%)
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IBEX 35
10,258.10
+19.70 (+0.19%)
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Sell (12)
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Sell (6)
BASF SE NA O.N.
44.440
+0.840 (+1.93%)
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↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (9)
Sell (0)
Bayer AG NA
32.39
+0.69 (+2.16%)
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↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (7)
Sell (1)
Allianz SE VNA O.N.
240.95
+2.20 (+0.92%)
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BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (5)
Sell (3)
Adidas AG
197.00
+1.72 (+0.88%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (7)
Deutsche Lufthansa AG
8.585
+0.266 (+3.20%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (0)
Sell (6)
Siemens AG Class N
160.92
+2.18 (+1.37%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (4)
Deutsche Bank AG
11.670
+0.100 (+0.86%)
Summary
BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (5)
Sell (3)
| EUR/USD | 1.0770 | Neutral | |||
| GBP/USD | 1.2561 | Neutral | |||
| USD/JPY | 147.01 | ↑ Sell | |||
| AUD/USD | 0.6556 | Neutral | |||
| USD/CAD | 1.3591 | ↑ Sell | |||
| EUR/JPY | 158.33 | ↑ Sell | |||
| EUR/CHF | 0.9417 | ↑ Sell |
| Gold | 2,046.00 | ↑ Buy | |||
| Silver | 24.282 | ↑ Buy | |||
| Copper | 3.7408 | ↑ Buy | |||
| Crude Oil WTI | 69.57 | Sell | |||
| Brent Oil | 74.30 | Neutral | |||
| Natural Gas | 2.566 | Neutral | |||
| US Coffee C | 175.85 | ↑ Buy |
| Euro Stoxx 50 | 4,483.75 | ↑ Sell | |||
| S&P 500 | 4,549.34 | Sell | |||
| DAX | 16,656.44 | ↑ Sell | |||
| FTSE 100 | 7,515.38 | ↑ Sell | |||
| Hang Seng | 16,474.00 | Buy | |||
| Small Cap 2000 | 1,851.25 | ↑ Sell | |||
| IBEX 35 | 10,258.10 | ↑ Sell |
| BASF | 44.440 | ↑ Buy | |||
| Bayer | 32.39 | ↑ Buy | |||
| Allianz | 240.95 | Buy | |||
| Adidas | 197.00 | ↑ Sell | |||
| Lufthansa | 8.585 | Sell | |||
| Siemens AG | 160.92 | Neutral | |||
| Deutsche Bank AG | 11.670 | Buy |
| Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
|---|---|
| SJC Eximbank | 7,320/ 7,420 (0/ 0) # 1,465 |
| SJC HCM | 7,300/ 7,420 (0/ 0) # 1,465 |
| SJC Hanoi | 7,300/ 7,422 (0/ 0) # 1,467 |
| SJC Danang | 7,300/ 7,422 (0/ 0) # 1,467 |
| SJC Nhatrang | 7,300/ 7,422 (0/ 0) # 1,467 |
| SJC Cantho | 7,300/ 7,422 (0/ 0) # 1,467 |
| Cập nhật 07-12-2023 07:54:23 | |
| Xem lịch sử giá vàng SJC: nhấn đây! | |
| ↀ Giá vàng thế giới | ||
|---|---|---|
| $2,028.48 | +9.98 | 0.49% |
| ʘ Giá bán lẻ xăng dầu | ||
|---|---|---|
| Sản phẩm | Vùng 1 | Vùng 2 |
| RON 95-V | 23.680 | 24.150 |
| RON 95-III | 22.990 | 23.440 |
| E5 RON 92-II | 21.790 | 22.220 |
| DO 0.05S | 20.190 | 20.590 |
| DO 0,001S-V | 21.590 | 22.020 |
| Dầu hỏa 2-K | 21.110 | 21.530 |
| ↂ Giá dầu thô thế giới | |||
|---|---|---|---|
| WTI | $69.79 | -5.5 | -0.07% |
| Brent | $74.29 | -5.77 | -0.07% |
| $ Tỷ giá Vietcombank | ||
|---|---|---|
| Ngoại tệ | Mua vào | Bán ra |
| USD | 24.065,00 | 24.435,00 |
| EUR | 25.474,81 | 26.873,60 |
| GBP | 29.775,38 | 31.043,30 |
| JPY | 160,24 | 169,63 |
| KRW | 15,96 | 19,34 |
| Cập nhật lúc 07:50:02 07/12/2023 Xem bảng tỷ giá hối đoái | ||
