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Gold / Saudi Riyal converter (- / SAUDI ARABIA)
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ECB Stark Says Excessively Low Rates May be Counterproductive
Frankfurt - European Central Bank Governing Council member Jürgen Stark warned that rate cuts will not solve the financial crisis and that rates at too low a level could even be counterproductive.The lower rates are, the less incentive banks have to clean up their balance sheets and carefully monitor their credit risks, Stark said in an interview with Luxembourg newspaper Tageblatt, published on Saturday.On Thursday, the ECB's Governing Council voted to reduce the central bank's key policy rate
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ECB Has Room to Manoeuvre on Rates, Says Gonzalez-Paramo
Frankfurt - European Central Bank Governing Council member Jose Manuel Gonzalez-Paramo said that while the economic outlook is still mired in exceptional uncertainty, the ECB has manoeuvring room on rates.However, rates will be decided based on inflation expectations, he added.Interest rates will come down to the level which allows inflation expectations to be anchored in line with price stability, Gonzalez-Paramo said on Spanish TVE on Wednesday, noting that expectations had fallen since the central bank raised its key
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ECB's Bini Smaghi Warns of Unintended Results from Excessively Low Rates
Frankfurt - European Central Bank member Lorenzo Bini Smaghi warned that excessively low rates could have unintended consequences and that he does not believe it is always a good idea to err on the side of excessive easing.Be careful to avoid overshooting and cutting rates to too low levels, Bini Smaghi said in a speech delivered Friday at the University of Ancona, in Italy. The central banker added that rates at zero percent could lead to substantial problems
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ECB's Quaden Still Sees Room For Maneuver on Rates
Frankfurt - The European Central Bank has not yet exhausted its maneuvering room on rates, ECB Governing Council member Guy Quaden said.However, speaking in an interview with Belgian magazine Trend-Tendances published on Thursday, the central banker refused to give lower bound for the ECB's main refinancing rate. I will not fix a limit, Quaden said. I'm simply saying a rate of 1.5% is not the lowest point we would be able to achieve.Quaden also said that the ECB
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Gold / UAE Dirham converter (- / UNITED ARAB EMIRATES)
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UAE Dirham / Gold converter (UNITED ARAB EMIRATES / -)
UAE Dirham / Gold converter (AED / XAU) will convert the currency of UNITED ARAB EMIRATES in currency of - with the actual exchange rate.
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AU Preview: AUD Could Suffer if RBA Surprises with Rate Cut
The Reserve Bank of Australia is expected to keep rates on hold for the second month in a row in an effort to store ammunition for the next leg down in Australia's economy, but the Aussie dollar could suffer if the dissenting minority calling for a rate cut are correct, strategists say.Although most economists expect the central bank to hold rates at 3.25%, the market has fully priced in a 25 basis point cut and a 38%
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