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ECB Member Fabio Panetta Claims Rising Profit Margins Could Be Fueling Inflation

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Fabio Panetta, a member of the executive board of the European Central Bank (ECB), has stated that companies increasing their profit margins could be helping to fuel inflation. In an interview with the New York Times, Panetta warned about the effect that companies increasing such margins could have on inflation levels in the long term. … Read more

Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps

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The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if … Read more

Central Banks Continue to Show Strong Demand for Gold in 2023, Says World Gold Council Report

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Central banks show continued demand for gold in 2023, as per a recent report from the World Gold Council (WGC), which noted that the world’s central banks accumulated 31 tons of the precious metal in January. Turkey was the largest gold buyer, adding 23 tons to its central bank’s stash, while the People’s Bank of … Read more

Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy

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The ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the new currency will be “preserving privacy by default and by design.” Eurogroup to Remain Involved in … Read more

ECB’s Fabio Panetta: Unbacked Cryptos Are a ‘Vehicle for Gambling’ Lacking ‘Intrinsic Value’

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Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that while cryptocurrency regulation is a good answer to the problem, it must also touch on decentralized finance structures. … Read more

ECB to Decide Whether to Issue Digital Euro in 2023

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The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023. ECB to Develop … Read more