Monetary policy

Climate protection is to play a bigger role in the European Central Bank's (ECB) monetary policy. "The ECB is to account for climate change in its corporate bond purchases, collateral framework, disclosure requirements and risk management, in line with its climate action plan," the ECB announced in Frankfurt on Monday.

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European Central Bank (ECB) President Christine Lagarde has again held out the prospect of interest rate hikes in the near future. "We intend to raise the key ECB interest rates by 25 basis points at our monetary policy meeting in July," Lagarde told the European Parliament's Economic and Monetary Affairs Committee on Monday.

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The ECB is stepping up its fight against a sell-off of government bonds issued by southern euro countries. The recent turmoil on bond markets had raised concerns about a renewed euro debt crisis.

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The ECB will take action against a disorderly rise in financing costs of more indebted eurozone countries, according to Central Bank Director Isabel Schnabel. Monetary policy can and should react to the disorderly reassessment of risks that affect Central Bank actions and threaten price stability, Schnabel said on Tuesday at Panthéon-Sorbonne University in Paris.

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