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ECB holds key rate steady amid spat with Germany

  Frankfurt / AFP European Central Bank (ECB) held its key interest rates steady on Thursday, but analysts believe it could pave the way for new stimulus measures soon, despite growing resistance in Germany. The ECB’s governing council voted, as expected, to keep the benchmark “refi” refinancing rate at its current all-time low of zero percent, after cutting it to ...

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Italy gives green light to Vicenza bank’s $2bn IPO

  MILAN / Reuters Italy’s market regulator gave the green light on Thursday for struggling lender Banca Popolare di Vicenza to list on the Milan stock exchange with a 1.76 billion euros ($2 billion) initial share offer, to be underwritten by a new bank bailout fund. Popolare di Vicenza, Italy’s eighth-largest lender, needs to raise the money to plug a ...

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Turkey central bank chief makes ‘cautious’ debut

  Ankara / AFP Turkey’s central bank cut a key interest rate at the debut meeting of its new governor in a move aimed at reassuring skittish investors but that disappointed the government. The bank said the overnight marginal funding rate was trimmed 50 basis points, as expected by analysts, to 10 percent from 10.50 percent. It left the one-week ...

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