European Stocks Advance As ECB Tries New Message ibtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com Daily Mail and Mail on Sunday newspapers.
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Reuters poll graphics on the UK inflation, monetary policy and economic growth outlook:https://tmsnrt.rs/2UPNwRv
Reuters poll graphics on the UK economic outlook:https://tmsnrt.rs/3enAdip
LONDON, July 16 (Reuters) - Britain s economy will expand rapidly this quarter as additional coronavirus-related restrictions are lifted and further pent-up demand is unleashed, a Reuters poll found, but growth is at risk from new variants of COVID-19.
The country has suffered the highest death toll in Europe from the pandemic but a fast-moving vaccine rollout has allowed the government to withdraw many of the lockdown restrictions, with more set to lifted on Monday. read more
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ECB tweaks inflation target, bolsters climate role
The European Central Bank set a new inflation target on Thursday and carved out a major role in the fight against climate change, embarking on a fundamental transformation of Europe’s most powerful financial institution.
With inflation having undershot its target for nearly a decade, ECB President Christine Lagarde has driven an 18-month deep dive into the inner workings of the bank, challenging even core principles of central banking in the hopes of resetting strategy and bolstering credibility.
In the key conclusion of the review, the central bank of the 19 countries that share the euro set its inflation target at 2% in the medium term, ditching a previous formulation of “below but close to 2%,” which had created the impression it worried more about price growth above the target than below it.
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European Central Bank sets new inflation target, eyes climate change in strategic overhaul
FILE PHOTO: The headquarter of the European Central Bank (ECB) is photographed in Frankfurt, Germany, January 22, 2021, REUTERS/Kai Pfaffenbach/File Photo
09 Jul 2021 08:53AM (Updated:
09 Jul 2021 08:57AM) Share this content
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FRANKFURT: The European Central Bank (ECB) on Thursday (Jul 8) set a new inflation target and integrated climate change considerations into its monetary policy strategy, the first major overhaul of its goals and tools in almost two decades.
The bank will in future take into account companies environmental credentials when considering whether an asset can qualify as collateral or be purchased by the Frankfurt institution.