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Euro edges up ahead of ECB rate decision

The euro nudged up against the dollar in Asia Thursday, ahead of a European Central Bank meeting, with traders looking to see if policymakers cut rates in response to weak inflation data. The European single currency bought $1.3520 in Tokyo afternoon trade, compared with $1.3517 in New York where it got a boost from upbeat German factory data. The euro edged down to 133.33 yen from 133.40 yen in US trade on Wednesday. The dollar bought 98.64 yen, against 98.69 yen in New York.

ECB's Draghi says euro zone gradually recovering

FRANKFURT (Reuters) - European Central Bank President Mario Draghi said on Tuesday the euro zone economy is recovering gradually, but that the interest rates households and firms have to pay across the 17-country bloc continue to vary greatly. "In the euro area in recent years, economies and with them the people have suffered from the financial and debt crisis, from which we are gradually recovering," Draghi told Child and Youth Finance conference.

Veteran of global affairs to retire in 2014 from New York Fed

NEW YORK (Reuters) - Terrence Checki, a top U.S. central bank official with some 46 years of experience at the Federal Reserve Bank of New York, is set to retire early next year as head of a group that promoted global financial stability and coordination. Checki, executive vice president of the New York Fed's Emerging Markets and International Affairs Group, on Wednesday said he intends to retire in the first quarter of 2014.

Karnit Flug named Bank of Israel governor

By Tova Cohen TEL AVIV (Reuters) - Israel on Sunday named Karnit Flug as the first woman to head its central bank and meet the challenge of a rising shekel after a rocky selection process that dragged on for months. Flug, 58, was deputy to previous governor Stanley Fischer and has been acting chief of the Bank of Israel since her predecessor stepped down in June after eight years in the job. Accepting the post, Flug, said in a brief statement the central bank and Israel's economy faced significant challenges.

ECB's Draghi has asked to delay bank bail-in plans: paper

MILAN (Reuters) - Mario Draghi, European Central Bank head, wrote to the European Commission last month asking that bondholders be spared any losses in the event of a bank rescue until a Europe-wide banking union is fully operational, la Repubblica newspaper reported on Saturday. The Italian daily cited sources with direct knowledge of the letter sent by ECB President Draghi. The ECB and the Commission were not immediately available to comment.

European Central Bank chief: World still believes US will find way out of debt limit crisis

NEW YORK, N.Y. - European Central Bank head Mario Draghi says a U.S. government debt default would cause "severe damage" to the American and global economies — but that the rest of the world doesn't believe it will happen. "The world still does not believe that the United States will not find a way out of this," Draghi said in response to a question after a speech Thursday at the Economic Club of New York.

ECB's Draghi says long U.S. debt standoff could cause damage

NEW YORK (Reuters) - European Central Bank President Mario Draghi said on Thursday that a prolonged U.S. debt standoff could hurt the global economy. A debt impasse lasting for weeks or even months could cause "severe damage" to the U.S. and global economies, said Draghi, speaking before the Economic Club of New York ahead of attending the weekend meetings of the International Monetary Fund and World Bank in Washington.

ECB's Draghi: US expected to resolve budget impasse

The world believes US political leaders will resolve their differences on the budget and avert the catastrophe of a debt default, the head of the European Central Bank said Thursday. "There's this belief that an agreement will be found," Mario Draghi told a New York gathering, as Washington powerbrokers sought an agreement to raise the debt ceiling by October 17. "The world still doesn't believe that the US will not find a way out of this," Draghi said. Draghi said a standoff of several months or weeks could "cause severe damage to the US economy and to the world."

ECB chief Draghi's advisor quits to go to AXA

One of European Central Bank president Mario Draghi's closest advisors, Christian Thimann, is quitting his job to go to French insurance giant AXA, a spokesman said Monday. Thimann, who was also an advisor to Draghi's predecessor Jean-Claude Trichet, will leave the ECB in January, a central bank spokesman told AFP, confirming a corresponding report to be published in the daily Die Welt on Tuesday. Thimann joined the ECB in 1998.

ECB chief Draghi's advisor quits to go to AXA

One of European Central Bank president Mario Draghi's closest advisors, Christian Thimann, is quitting his job to go to French insurance giant AXA, a spokesman said Monday. Thimann, who was also a close advisor to Draghi's predecessor Jean-Claude Trichet, will leave the ECB in January, a central bank spokesman told AFP, confirming a corresponding report to be published in the daily Die Welt on Tuesday. Thimann joined the ECB in 1998.
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