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#europeancentralbank

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Public
Nonilex

#EuropeanCentralBank Cuts Rates as #Inflation Cools

Policymakers who set interest rates for the 20 countries that use the #euro lowered rates in back-to-back meetings for 1st time since 2011.

#ECB lowered their key rate by ¼ pt, to 3.25%. The decision came 5 wks after a cut at the bank’s previous meeting, & on the day a report showed eurozone’s inflation rate slowing to 1.7% in Sept, falling below the bank’s 2% target for the 1st time in >3 yrs.

#GlobalEconomy #economy
nytimes.com/2024/10/17/busines

The New York Times · ECB Cuts Interest Rates Again as Eurozone Inflation SlowsBy Eshe Nelson
Public
Maximilian Henning

The EU is working on a #DigitalEuro. The Commission already published its proposal last year, the #EUCouncil is currently discussing its version. But what are they talking about? I looked at working documents from recent months for @netzpolitik_feed.

A few points of discussion:

- The Commission proposed exemptions for transaction monitoring for offline transactions, because there is no anti-money laundering monitoring for cash either and that's the idea behind the offline Digital Euro. The documents show that #Italy, #Portugal and #Lithuania were sceptical with this idea.

- On the other hand, #France recently published a non-paper in which it calls for extending the exemptions to all "proximity" payments, so for example payments in stores. Why? Because users don't care about whether a payment is online or offline, they care about what situation they're trying to use the Euro in.

- Another topic is the "single access point" that the #EuropeanCentralBank #ECB would be able to open under the Commission's proposal. This, the Commission argues, is necessary to allow users to switch between payment providers. #Germany doesn't seem to be a big fan and wanted some further explanations.

netzpolitik.org/2024/eu-counci

netzpolitik.org · EU Council discusses Digital Euro: And how much privacy should it be?Member states are negotiating rules for the planned digital currency, in particular exemptions from surveillance for offline transactions. A planned
Public
Emeritus Prof Christopher May

Meanwhile at the #EuropeanCentralBank, one of Christine Lagarde's team has prompted complaints after saying that (some of) the ECB's staff needed to be 'reprogrammed' to support the Bank's policies around the #climatecrisis;

understandably some staff found such a notion as disrespectful to their right to have views of their own;

moreover as a staff representative put it: the idea of reprogramming of staff is 'in direct contradiction to the democratic values the ECB & EU stand for'.

h/t FT

Public
Matija Šuklje

The #ECB is asking all 🇪🇺 #EU citizens for feedback on what the theme should be for the future 💶 #Euro bank notes.

web page:
ecb.europa.eu/euro/banknotes/f

poll:
survey.ecb.europa.eu/486783

In the poll, the following shortlisted themes are available:
• Birds: free, resilient, inspiring
• European culture
• European values mirrored in nature
• The future is yours
• Hands: together we build Europe
• Our Europe, ourselves
• Rivers: the waters of life in Europe

European Central BankFuture banknotesThe European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
#EuropeanCentralBank#VoteWithYourVote
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