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ECB's Draghi: the strong euro could require policy action

European Central Bank chief Mario Draghi said Saturday that the bank may need to take action to stem the rising euro. "The strengthening of the exchange rate would require monetary stimulus" as long as interest rates are already extremely low, he said. aue/pmh/sg

China central bank: credit growth steady but watching debt risks

BOAO, China (Reuters) - China's credit growth remains steady but the central bank is mindful of possible risks from high debt levels in the corporate sector, governor Zhou Xiaochuan said on Friday. The People's Bank of China considers inflation, employment and economic growth when setting monetary policy, though inflation remains a more important factor, Zhou said. (Reporting by Aileen Wang in Boao and Kevin Yao in Beijing)

European stocks, euro dip before ECB meeting

Europe's main stock markets dipped in cautious trading on Thursday ahead of the European Central Bank's latest monetary policy meeting and on the eve of US jobs data. Frankfurt's DAX 30 inched down 0.07 percent to 9,616.43 points and the CAC 40 in Paris fell by the same percentage to reach 4,427.74 points in midday deals. London's FTSE 100 index slipped 0.09 percent in value to stand at 6,653.26 compared with Wednesday's closing values. "Traders are ... staying on the sidelines before the ECB decision," said Varengold Bank trader Anita Paluch.

Exchange rate 'important' but no policy target: ECB chief

The European Central Bank takes exchange rates into account when setting interest rates, but has no firm target for the euro-dollar, its president Mario Draghi said on Thursday. "The exchange rate is very important for price stability," but it is "not a policy target," Draghi told a news conference after the ECB's regular monthly policy-setting meeting. spm/dlc/hd

ECB to use all methods needed to fight prolonged low inflation: Draghi

FRANKFURT (Reuters) - The European Central Bank will use whatever unconventional measures it has available to ensure low inflation does not take hold for too long in the euro zone, ECB President Mario Draghi said on Thursday. "The (ECB's) Governing Council is unanimous in its commitment to using all unconventional instruments within its mandate in order to cope effectively with risks of a too prolonged period of low inflation," he told a news conference after the central bank kept its interest rates unchanged.

ECB's Draghi: banks should take prompt action ahead of health check

PARIS (Reuters) - Banks should take prompt action to fix any problems before the European Central Bank unveils its health checks on the sector, ECB President Mario Draghi said on Tuesday, while underscoring his readiness to act to tackle low inflation. "The cleaning up of bank balance sheets does not need to wait for the end of this assessment," Draghi told an audience in Paris, referring to health checks to be published in October.

China central bank sees deposit rate liberalization within two years

BEIJING (Reuters) - China is likely to liberalize deposit rates in one to two years, central bank Governor Zhou Xiaochuan said on Tuesday at a media conference at China's annual parliament session. "Deposit rate liberalization is on our agenda. Personally I think it's very likely to be realized within one or two years," Zhou said.

Bank of England's Carney faces grilling over foreign exchange scandal

By William Schomberg and William James LONDON (Reuters) - Mark Carney faces probably his toughest questioning so far as Bank of England governor next week when lawmakers will seize on a foreign exchange scandal to press their demands for tighter oversight of the central bank. Carney arrived from Canada last July as an outsider with a mandate to shake up the 320 year-old institution, from monetary policy to its relationship with the powerful banks of the City of London.

No impact on euro zone from Ukraine crisis but potential for trouble is great: Draught

FRANKFURT (Reuters) - European Commission President Mario Draghi said on Thursday that from a purely financial standpoint the crisis in Ukraine should not have much impact on the euro zone. But he added that there was potential for far greater instability spreading from the nearby region if the situation escalates.

Draghi pushes for bank resolution fund to be operational quicker

European Central Bank chief Mario Draghi called Wednesday for a new bank resolution fund to be brought into full operation quicker as debate intensifies over the key element of a new banking union. Eurozone states agreed last December on the outlines of the second element of the new banking union, a so-called single resolution mechanism (SRM) to wind up failing banks.
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