Geoffrey Smith

London

Central Banking Editor at POLITICO

Central bank editor, POLITICO Europe. Use every man after his desert, and who should ’scape whipping?

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Articles

Putin warns his officials not to allow recession

1 week ago | politico.eu | Geoffrey Smith

Russian President Vladimir Putin cautioned his officials to make sure their efforts to cool down an economy driven to overheating by military spending don’t overshoot and drive it into recession. “Some specialists and experts are pointing to the risks of stagnation or even recession.
Bank of England holds rates as caution on inflation outweighs slowdown fears

1 week ago | politico.eu | Geoffrey Smith

The Bank of England kept its key interest rate at 4.25 percent on Thursday, with lingering fears of a revival of inflation outweighing fears that the U.K. economy is slowing. While inflation has come down markedly from its peak over 11 percent in 2023, it is still above 3 percent and likely to stay there for most of the year. With the Israel-Iran conflict having pushed oil prices higher again in recent days, the Bank stressed that the risks to inflation “remain two-sided”.
UK inflation slowed less than expected in May

1 week ago | politico.eu | Geoffrey Smith

Consumer price inflation in the U.K. slowed only slightly in May, all but ensuring that the Bank of England won’t cut interest rates at its policy meeting on Thursday. The Office for National Statistics said the consumer price index rose 3.4 percent in the year to May, down from 3.5 percent in April but still above market forecasts for 3.3 percent.
ECB’s Lagarde gently urges China to change its ways

2 weeks ago | politico.eu | Geoffrey Smith

China must change its ways or it risks plunging the world into a new depression, European Central Bank President Christine Lagarde said — ever so diplomatically — in a rare visit to Beijing on Wednesday. In a speech to the People’s Bank of China that drew heavily on the trade-induced economic crises of the 20th century, Lagarde stressed that China and the U.S. had to share the burden of closing the massive trade gap that threatens to tear the world economy apart.
Szef słowackiego banku centralnego usłyszał wyrok. Jest sojusznikiem Roberta Ficy

4 weeks ago | wiadomosci.onet.pl | Geoffrey Smith

Peter Kazimir, prezes słowackiego banku centralnego i bliski sojusznik premiera Roberta Fico, został w czwartek skazany za przekupstwo i ukarany grzywną w wysokości 200 tys. euro (ok. 850 zł). Kazimir został oskarżony o zaoferowanie 48 tys. euro (ok. 200 tys. zł) w 2016 r. Frantiskowi Imreczowi, byłemu przewodniczącemu słowackiej administracji skarbowej, w celu przyspieszenia postępowania podatkowego dla firm należących do jego znajomego, Ladislava Rehaka.
Szef Światowego Forum Ekonomicznego w Davos już wybrał następczynię. Ta decyzja może wywołać problemy w strefie euro

4 weeks ago | wiadomosci.onet.pl | Geoffrey Smith |Ben Munster

Klaus Schwab zdradził w rozmowie z "Financial Times", że spotkał się z Christine Lagarde, aby umówić się z nią na przejęcie od niego stanowiska dyrektora generalnego już na początku 2027 r., choć kadencja Lagarde w EBC trwa do końca października.
Slovakian Governor Kažimír convicted of bribery in fresh embarrassment for ECB

1 month ago | politico.eu | Geoffrey Smith

Peter Kažimír, governor of the Slovakian central bank and a close ally of Prime Minister Robert Fico, was convicted of bribery on Thursday and fined €200,000. Kažimír had been charged with offering €48,000 in 2016 to František Imrecz, the former president of Slovakia's Financial Administration, to speed up tax proceedings for companies owned by his acquaintance, Ladislav Rehák. Kažimír was Fico’s finance minister at the time.
Christine Lagarde discussed leaving ECB early to run Davos forum, founder says

1 month ago | politico.eu | Geoffrey Smith |Ben Munster

Christine Lagarde has discussed leaving the European Central Bank early to take over running the World Economic Forum according to its founder Klaus Schwab. Schwab told the Financial Times he had met with the ECB president to arrange her taking over from him as chief executive in early 2027. Lagarde’s term with the ECB runs until the end of October of that year. The WEF runs the annual Davos extravaganza high up in the Swiss Alps, welcoming world leaders, financial titans and captains of industry.
Widmo stagnacji nad niemiecką gospodarką. "Winne cła Donalda Trumpa"

1 month ago | wiadomosci.onet.pl | Geoffrey Smith

Niemiecka Rada Ekspertów Ekonomicznych stwierdziła, że nieprzewidywalna polityka handlowa Stanów Zjednoczonych i gwałtowny wzrost ceł importowych będą obciążeniem dla Niemiec, które od dziesięcioleci opierają swój wzrost gospodarczy na eksporcie. "Gospodarka niemiecka pozostaje w wyraźnej fazie osłabienia i ostatnio w niewielkim stopniu skorzystała na globalnym wzroście gospodarczym" — napisali w opublikowanym w środę raporcie doradcy.
German economy set for zero growth thanks largely to Trump, government advisers say

1 month ago | politico.eu | Geoffrey Smith

Europe’s largest economy will flatline at zero growth this year due largely to U.S. President Donald Trump's tariff war, a panel of influential German government advisers said Wednesday. The German Council of Economic Experts said the U.S.’s unpredictable trade policy and sharp rises in import tariffs would burden Europe’s largest economy, which for decades has depended on its export sector to generate growth.