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Europe's central bank to adopt 'wait and see policy'

- ECB not expected to take additional measures against virus-driven economic crisis at Thursday's meeting, say economists

home > Finance, Europe 30.04.2020 09:30

Europe's central bank to adopt 'wait and see policy'

The European Central Bank (ECB) is not expected to take additional measures and could implement a "wait-and-see" policy amid the coronavirus crisis, according to economists.

The ECB announced at its latest meeting that temporary new long-term refinancing operations will be provided to support the Eurozone financial system, said Peter Vanden Houte, chief eurozone economist of ING Bank based in Amsterdam.

The ECB also decided to initiate an asset purchase program worth €750 billion, he added.

All of these measures will be evaluated at the meeting on Thursday.

"We don’t expect the bank to decide on additional measures this week," he said.

"With regards to interest rates, the ECB has already come to the conclusion that a further rate cut, deeper into negative territory, would probably do more bad than good, as it puts further pressure in the banks’ interest margin," he added.

Given the depth of the contraction, low inflation and falling inflation expectations, he said, we would expect the ECB to step up its pandemic emergency purchase program.

"The June meeting, would be the right moment to announce such an increase," he concluded.

Sharing similar views, Commerzbank's senior economist Michael Schubert said he does not expect the ECB to decide on any additional measures at Thursday's meeting.

"ECB should suggest a wait-and-see stance," he said.

The falling rate of COVID-19 infections world over, he said, has raised hope "that confidence will return among the population, the economy and the financial markets".

According to him, additional measures by the ECB will then probably not be necessary, or at least the central bank can afford to wait until the June meeting.

By Burhan Sansarlioglu

Anadolu Agency

energy@aa.com.tr


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- Europe's electricity in 2020 was 29% cleaner than 2015 with carbon dioxide per KWh dropping to 226 grams from 317 grams
26.01.2021 Finance , Renewable , Energy Projects , Europe

Europe orders record 15 GW of new wind turbines in 2020

- Despite ongoing COVID-19 pandemic, both onshore and offshore orders showed increases in European sales
26.01.2021 Finance , Renewable , Europe , General

Turkey, Greece to begin new round of exploratory talks

- Talks addressing issues in Aegean, Eastern Mediterranean to resume in Istanbul on Monday after 5-year hiatus
25.01.2021 Finance , Turkey , General

Spot market electricity prices for Monday, Jan. 25

- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 165.18 million Turkish liras
24.01.2021 Electricity , Finance , General

Spot market natural gas prices for Saturday, Jan. 23

- 1,000 cubic meters of natural gas on spot market costs 1,297 Turkish liras
24.01.2021 Natural Gas , Finance , General

Turkey's daily power consumption down 8.38% on Jan. 23

- Electricity exports amount to 4,206 megawatt-hours, while imports totaled 811 megawatt-hours
25.01.2021 Electricity , Finance , Turkey , General

Schlumberger posts net loss in 2020

- Despite seasonality, revenue sees growth sequentially in all four divisions for first time since 3rd quarter 2019, says CEO
22.01.2021 Oil , Finance

Baker Hughes posts revenue fall in 2020

- Revenue and profit in 4th quarter, although higher compared with third, are still below numbers posted one year earlier
22.01.2021 Oil , Finance

Aygaz enters LPG business in Bangladesh via new partner

- Thanks to partnership agreement with United Enterprises, Aygaz will be entering Asian markets, CEO says
21.01.2021 Lng/Lpg , Invesments , Turkey , Asia

Siemens Energy to drive hydrogen economy in Middle East

- Initial focus of activity will be in Abu Dhabi and over time will be extended to other international markets
19.01.2021 Projects , Middle East-Africa , General

Var Energi given 10 new exploration licenses in Norway

- Var Energi has been granted 5 operatorships and 5 partnerships in licenses on Norwegian Continental Shelf
19.01.2021 Oil , Finance , Europe , General

EBRD to give €26M to build new wind farms in Poland

- Total planned capacity of farms is 51.4 MW, and when built will prevent 126,000 tonnes of carbon dioxide annually
20.01.2021 Finance , Renewable , General

Russia's gas revenue down 41.8% between Jan-Nov 2020

- Russia's gas export revenue declines to $22 billion in first eleven months of 2020
18.01.2021 Natural Gas , Oil , Finance , Eurasia , General

Spot market electricity prices for Sunday, Jan. 17

- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 149.3 million Turkish liras
16.01.2021 Electricity , Finance , General

Spot market natural gas prices for Friday, Jan. 15

- 1,000 cubic meters of natural gas on spot market costs 1,304 Turkish liras
16.01.2021 Natural Gas , Finance , Turkey , General

Turkey's daily power consumption up 0.27% on Jan. 15

- Electricity exports amount to 4,058 megawatt-hours, while imports totaled 1,251 megawatt-hours
17.01.2021 Electricity , Finance , General

Turkey allocates $18.5B for 2021 investments

- Transport and communications projects to take lion's share with $5.7B, followed by education with $2.66B
17.01.2021 Invesments , General

US oil rig count rises by 12 for week ending Jan. 15

- Oil rigs increase by 12 to 287, from 275 the previous week
18.01.2021 Oil , Finance , General

Denmark leads zero-emission urban buses in Europe

- Zero-emission urban buses help combat air pollution, tackle climate change and reduce noise
17.01.2021 Renewable , Finance , Renewable , General

Ecuador secures historic deal with US development bank

- Funds set to alleviate country’s longstanding debt with Asia and boost its economy amid COVID-19 pandemic
15.01.2021 Finance , Americas , General

Venezuela open to foreign investment in oil sector

- In a bid to boost domestic output, government is welcoming foreign investment in sector, which has not occurred since 1990s
15.01.2021 Oil , Invesments , Americas , General

Spot market electricity prices for Friday, Jan. 15

- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 182.44 million Turkish liras
14.01.2021 Electricity , Finance , General

OECD revises up Turkey's growth forecast for 2020

- Global body says Turkish economy's entrepreneurial power striking even under challenging macroeconomic conditions
15.01.2021 Finance , Turkey , General

Spot market natural gas prices for Wednesday, Jan. 13

- 1,000 cubic meters of natural gas on spot market costs 1,319 Turkish liras
14.01.2021 Electricity , Finance , General

Turkey's daily power consumption up 1.4% on Jan. 13

- Electricity exports amount to 4,783 megawatt-hours, while imports totaled 1,760 megawatt-hours
14.01.2021 Electricity , Finance , Turkey , General

Equinor chosen for largest-ever US offshore wind award

-With this award, Equinor and incoming strategic partner BP will provide 3.3 gigawatts of power to New York State
15.01.2021 Finance , Wind , Renewable , General

‘Cyprus solution must be based on sovereign equality'

- 50 years of talks on Cyprus issue have yielded nothing, with negotiations over federation exhausted, says TRNC president
14.01.2021 Finance , Energy Diplomacy , General

US renewable energy installation set to grow in 2021

- Solar energy will account for the largest share of new capacity at 39%, followed by wind at 31%
13.01.2021 Finance , Renewable , Americas , General

New Mexico to have largest wind installation in region

- New Mexico wind project will be capable of powering 590,000 homes
12.01.2021 Finance , Wind , Americas , General

Good infrastructure, incentives key for Turkish EV sales

- Consequences of novel coronavirus (COVID-19) pandemic will affect the numbers of individual car ownership
12.01.2021 Electricity , Finance , Renewable , Energy Projects

Enel, QIA form JV for renewables in Sub-Saharan Africa

- Solar and wind power plants in Sub-Saharan Africa to generate 800-megawatt capacity
11.01.2021 Finance , Renewable , Middle East-Africa , General

Germans want more clean energy: YouGov report

- Clean energy generated more than half of Germany's electricity mix in 2020 and most Germans are in favor of more expansion
11.01.2021 Finance , Renewable , Energy Projects , General

Turkey launches trade center in Chicago

- Country wants to expand Turkish exporters' network, creating new business opportunities in US
09.01.2021 Finance , Projects , Turkey

Biden rolls out stimulus plan, names economic team

- President-elect says 'anxiety and fear of' everyday workers remind him of economic crisis he helped lead US out of in 2009
09.01.2021 Finance , Americas

US economy loses 140,000 jobs, unemployment at 6.7%

- Unemployment rate remains unchanged after 7 consecutive months of decline, number of unemployed at 10.7 million
09.01.2021 Finance , Americas

Wind, water produce most of EU renewable power in 2019

- In 2019, renewable energy sources comprised 34% of gross electricity consumption in European Union
09.01.2021 Finance , Wind , Solar , Hydro , Europe

Turkey's gold production set to break records in 2021

- Despite pandemic, production target is achieved by prioritizing work safety and environmental responsibility
09.01.2021 Invesments , Energy Security , Turkey

2020 sees big developments in Baltic Sea offshore wind

-Poland, Germany, Denmark, Sweden, Finland, Lithuania, Estonia and Latvia sign declaration to boost offshore wind energy
09.01.2021 Finance , Wind , Renewable , Europe

EC gives €5M funding for combined wind/hydrogen project

- Multinational consortium and recipient of funding plan to start combined wind turbine and electrolyzer project in 2021
09.01.2021 Finance , Wind , Renewable , General

Siemens Gamesa seals its first wind project in Ethiopia

- The 100-megawatt wind farm will help power over 400,000 Ethiopian households
08.01.2021 Finance , Wind , General

Emerging markets attract $313B in 2020: IIF

- Portfolio flows stand at $45.9B in December, closing one of most volatile years, says Institute of International Finance
08.01.2021 Invesments

World Bank raises Turkey's 2020 growth projection

- Outlook for 2021 downgraded with sharp rise in new COVID-19 infections, weak tourism, tight monetary policy
06.01.2021 Finance , Turkey
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