Danièle Nouy, the head of the supervisory board at the European Central Bank, in an interview with a Latvian news agency said that the next economic crisis in Europe could emerge in the real estate market, Reuters writes. At the same time, she noted that now, European banks are better prepared than during the previous crisis 10 years ago. In the euro area in some places there was a sharp jump in property prices under the of record low interest rates. According to some officials, a soft monetary policy can lead to the formation of “bubbles” of assets that can cause a new crisis. Nouy noted that in the Baltic countries, the rise in prices for commercial real estate and the use of floating interest rates pose a threat to the emergence of a crisis situation.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...