European Central Bank (ECB) news

The European Central Bank (ECB) is the central bank for the Eurozone, responsible for monetary policy. Its primary objective is to maintain price stability within the 20 member states using the euro. The ECB uses various monetary policy tools to guide the Eurozone economy and support sustainable growth.

US Close: Stocks rally as bank jitters ease, No surprises from Yellen, ECB hikes, Oil rebounds, profit-taking time for gold, Bitcoin edges higher

US stocks are rallying as Wall Street worries over the banking sector are easing after the big banks offer support to First Republic and as the SNB gave Credit Suisse a lifeline. Banking jitters are fading quickly for now and that has everyone scrambling back into risky assets. Yellen Treasury Secretary Janet Yellen’s testimony to the Senate did not yield any surprises. She defended the proposed budget and reiterated that there will be a careful look at what happened with SVB.

16-03-2023 13:52 GMT by Edward Moya

A gamble from the ECB?

It's been another wild session in financial markets and the ECB had the unenviable task today of making a decision on interest rates amid all of the uncertainty and turbulence. One thing that was clear from Lagarde's press conference is that it isn't just markets that expect the tightening cycle may have come to an abrupt end following the events of recent days.

16-03-2023 13:11 GMT by Craig Erlam