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'We don't have a magic wand', says ECB's Constancio

MADRID (Reuters) - Societies expect too much of central banks and they don't have a magic wand to boost economic growth, European Central Bank Vice President Vitor Constancio said on Thursday. The ECB has faced pressure from France this month to weaken the euro to help breathe life into the euro zone economy. But Constancio said policy measures beyond the realm of monetary policy were needed to tackle growth and deal with the demographic challenges facing economies.

Weak April inflation data may prompt ECB action, says Coene

FRANKFURT (Reuters) - A lower-than-expected April reading of euro zone inflation could trigger policy action by the European Central Bank, Governing Council member Luc Coene told MNI on Thursday. Coene, who is the governor of the Belgian central bank, also said that the ECB should cut both its main refinancing rate and its deposit rate - now at zero - if it decided to lower interest rates further.

NGO slams EU over ethical, transparency standards

Complex decision-making procedures and opaque bureaucratic negotiations have undermined the European Union's transparency rules and left the 28-state bloc vulnerable to corruption, a leading NGO has found. A Transparency International (TI) report, released in Brussels on Thursday, also found EU institutions did not have policies in place to protect whistle-blowers nor to manage conflict of interest concerns in staff appointments.

Dollar up vs euro on durable goods strength, potential ECB easing

By Daniel Bases NEW YORK (Reuters) - The U.S. dollar rose on Thursday after better-than-expected U.S. durable goods orders while ECB President Mario Draghi undermined the euro by reiterating the potential for asset purchases to ward off deflation risks. Draghi also warned a rising euro, which effectively tightens the money supply at a time when the European Central Bank is looking to boost economic stimulus, could force the ECB's hand on monetary policy measures.

ECB head says publishing minutes of bank decision without names would help monetary policy

FRANKFURT - European Central Bank head Mario Draghi says the bank's rate-setting council should publish a written account of its deliberations — without names. Draghi said Thursday that a "more detailed explanation of the reasoning" behind bank's decisions would help its monetary policy work its way through to the economy by making clear why the bank was acting — and how it might react to future trouble.

European stocks close down after three-day winning streak

European stock markets closed lower on Wednesday, shrugging off strong eurozone data as concerns about the Chinese economy prompted traders to take profits after a three-day winning streak. The euro also got a boost against the dollar and British pound after a raft of upbeat news about the bloc's economic recovery. London's FTSE 100 fell 0.11 percent compared to Tuesday's closing level to reach 6,674.74 points. Germany's DAX 30 lost 0.58 percent to close at 9,544.19 points while the CAC-40 in Paris dropped 0.74 percent to 4,451.08 points.

European stocks fall despite upbeat eurozone data

Europe's main stock markets fell on Wednesday as poorly-received Chinese economic data offset some strong numbers out of the eurozone which boosted the euro, analysts said. The euro, blamed by the French government for holding back its economy, rose against both the dollar and British pound. London's benchmark FTSE 100 stock index slipped 0.18 percent to stand at 6,669.63 points in midday deals. Frankfurt's DAX 30 shed 0.31 percent to 9,570.36 points and the CAC 40 in Paris lost 0.40 percent to 4,466.09 compared with Tuesday's closing level.

European stocks fall despite upbeat eurozone data

Europe's main stock markets fell on Wednesday as poorly-received Chinese economic data offset some strong numbers out of the eurozone which boosted the euro, analysts said. The euro, blamed by the French government for holding back its economy, rose against both the dollar and British pound. London's benchmark FTSE 100 stock index slipped 0.18 percent to stand at 6,669.63 points in midday deals. Frankfurt's DAX 30 shed 0.31 percent to 9,570.36 points and the CAC 40 in Paris lost 0.40 percent to 4,466.09 compared with Tuesday's closing level.

Bailout exit beckons for Portugal after record bond sale

By Andrei Khalip and Emelia Sithole-Matarise LISBON/LONDON (Reuters) - Portugal sold its first bonds at auction in three years on Wednesday, paying a record low yield that was seen as vote of market confidence and a boost to Lisbon's chances of making a clean break from its bailout next month.

France aims for EU 3.0% deficit limit in 2015

France aims to reduce its public deficit to the EU limit of 3.0 percent of output next year, after cutting to 3.8 percent this year, the government said on Wednesday amid a raft of measures to stabilise public finances. All public spending would amount to 56.7 percent of output this year, falling to 53.5 percent in 2017. The debt would fall from 2016, and reforms would boost growth by half a percentage point, the government forecast. lum/hd/hmn
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