OctaFX | OctaFX Forex Broker
Open trading account

Breaking: EUR/USD slides to fresh weekly lows as Italy's PM calls ECB irresponsible

Commenting on reports of the ECB telling lenders that they have to cover all of their existing NPLs (non-performing loans) within seven years, Italy's Interior Minister and Deputy Premier Matteo Salvini recently said that the ECB's Banking Supervisor was attacking Italian banks was being irresponsible. With the initial market reaction to Salvini's comments, the shared currency came under a renewed selling pressure and slumped to a fresh weekly low of 1.1412.

Key quotes (via Reuters)

  • EU banking union is creating instability.
  • ECB’s unwelcome bank intervention risks costing Italy 15 billion euros.
  • Just because ECB is independent does not mean it should be irresponsible.
  • Calls for more transparency by ECB to remove any doubts it is using its powers for political purposes.

Global growth is likely to slow this year – Capital Economics

Analysts at Capital Economics expect the global growth to slow to its weakest pace since the financial crisis later this year, led by slowdowns in the
Read more Previous

UK PM May spokesman: PM May to respond quickly after Brexit vote in Parliament

British Prime Minister Theresa May's spokesman recently crossed the wires saying that the PM will respond quickly after the Brexit vote in the Parliam
Read more Next
Start livechat