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EUR/JPY Through 133 After BOJ Statement

Posted by Stuart McPhee at 4:41 am EDT, 05/22/2013

The yen fell to a three-year low against the euro after Bank of Japan policy makers affirmed a plan to double the monetary base over two years and their statement made no reference to rising bond yields. Japan’s currency declined versus 13 of its 16 major peers after a government report showed the trade deficit swelled more in April than economists forecast and exports were lower than estimated. The dollar dropped for a third day against the euro before Federal Reserve [...] read more

Filed under: Forex Round Up, EUR, JPY

ECB Member Central Bank Technically Prepared for Negative Interest Rates

Posted by Alfonso Esparza 10:09 am EDT, 05/13/2013

European Central Bank governing council member Ignazio Visco told CNBC that the central bank is “technically prepared” to introduce negative deposit rates which would see banks effectively having to pay the ECB to hold deposits, but was aware of the potential “unintended consequences” of such a move. Visco, an Italian economist and the current governor of the Bank of Italy, said that the bank was “technically prepared to go in that direction” but the decision depended on whether the economy needed [...] read more

Filed under: EUR

EU Regulators Will Decide on Region Wide Bank Stress Tests

Posted by Alfonso Esparza 10:16 am EDT, 04/30/2013

European regulators will decide within two months how to conduct an extensive review of the euro zone’s lenders, Bundesbank Vice-President Sabine Lautenschlaeger said on Tuesday. Before the European Central Bank starts supervising euro zone banks next year as a first step towards a planned banking union, it wants to take stock of the lenders’ health. So far it has been unclear how such a review would fit in with stress tests planned by the European Banking Authority. Lautenschlaeger, who is in charge [...] read more

Filed under: EUR

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EUR/JPY Through 133 After BOJ Statement

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