Mario Draghi, governor of the Banca D’Italia and chairman of the Financial Stability Board, has criticized European and U.S. banks for trying to weaken new rules adopted by the Basel Committee on Banking Supervision, reports GFS News.
The central bank for Europe has voted to leave monetary policy unchanged despite high inflation, although the bank’s president has signaled that an increase could be in the works, according to Bloomberg.
The leader of Europe’s central bank has offered his first signal that officials may back an effort to use investors’ purchase of new Greek bonds to replace maturing securities to help stem the sovereign debt crisis, according to Bloomberg.
Jean-Claude Trichet, president of the European Central Bank, has called for the creation of a European Finance Ministry to give the European Union greater authority to help keep the EU financially stable, reports Money Marketing.
The rate of price growth in the 17 countries that share the euro dropped unexpectedly at the latest check, easing pressure on the region’s central bank to raise its benchmark interest rate, according to Financial Times.
Producer prices in the 17 countries that share the euro increased to a fresh two and a half year high to close the first quarter on surging energy costs that could trickle down to consumers, according to Bloomberg.