Daily Archives: February 9, 2012

Claire Jones

Josef Ackermann better watch out the next time he visits the Eurotower.

It appears Mario Draghi, ECB president, hasn’t taken too kindly to comments made by Deutsche Bank chief executive last week.

Mr Ackermann told analysts last Thursday that Deutsche Bank had not taken part in the ECB’s first offering of three-year loans in December and was reluctant to be seen as needing help. This from the FT’s James Wilson in Frankfurt:

“The fact that we have never taken any money from the government has made us, from a reputational point of view, so attractive to so many clients in the world that we would be very reluctant to give that up,” [Mr Ackermann] told analysts.

The ECB has been keen to dispel any suggestion that a stigma is attached to participation in the auctions for three-year loans, the next of which to be held at the end of this month. And when quizzed on the topic at today’s presser, the usually unfazed Mr Draghi lashed out with the sort of rant that we had come to know and love from his predecessorRead more

Claire Jones

The European Central Bank’s governing council has left its benchmark rate unchanged at 1 per cent, as expected.

The deposit and lending rates remain at 0.25 per cent and 1.75 per cent respectively. Read more

Claire Jones

The Bank of England’s Monetary Policy Committee has announced £50bn more in quantitative easing, taking the total size of the asset purchase programme to £325bn.

The amount is in line with the consensus view, though some analysts were unsure whether the MPC would back further asset purchases after some positive news on the economy in recent weeks. Read more