DAX Rallies As Banks Climb After Record ECB Rate Hike

RTTNews | 965 days ago
Stocktwits
DAX Rallies As Banks Climb After Record ECB Rate Hike

(RTTNews) - German stocks rallied on Friday, a day after the European Central Bank (ECB) reinforced its fight against inflation by delivering a 75-basis-point rate hike.

The ECB must raise interest rates further to prevent record euro-zone inflation from spilling over into wages, Governing Council member Klaas Knot said.

Separately, Slovakia's Peter Kazimir called for "resolute hikes" to tackle "painfully" high inflation.

The benchmark DAX jumped 195 points, or 1.5 percent, to 13,099 after finishing marginally lower the previous day.

Banks, which would benefit from higher interest rates, advanced on expectations that the ECB will deliver another supersized interest rate increase in October.

Commerzbank soared 5.5 percent and Deutsche Bank climbed 3.1 percent.

Stocktwits
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Yen Slides As Bank Of Japan Retains Rate As Expected

Yen Slides As Bank Of Japan Retains Rate As Expected

The Japanese yen weakened against other major currencies in the Asian session on Thursday, after the Bank of Japan left its interest rate unchanged for the second consecutive meeting and downgraded its growth projections citing trade tariff threats.
RTTNews | 1h 30min ago
Commodity Currencies Rise Amid Risk-on Mood

Commodity Currencies Rise Amid Risk-on Mood

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Thursday amid increased risk-on mood, as traders booked some profits after the recent upside in markets and a report showing the U.S. economy unexpectedly shrank in the first three months of 2025 generated some optimism about the outlook for interest rates.
RTTNews | 1h 45min ago
Yen Slides Against Majors

Yen Slides Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | 2h 55min ago
Bank Of Japan Retains Rate As Expected; Cuts Growth Outlook Amid Tariff Uncertainty

Bank Of Japan Retains Rate As Expected; Cuts Growth Outlook Amid Tariff Uncertainty

The Bank of Japan left its interest rate unchanged for the second consecutive meeting on Thursday, and downgraded its growth projections citing trade tariff threats. The policy board decided, by a unanimous vote, to hold the uncollateralized overnight call rate to remain at around 0.50 percent. This was the highest level since the global financial crisis in 2008.
RTTNews | 2h 55min ago
European Economic News Preview: UK Mortgage Approvals, Factory PMI Due

European Economic News Preview: UK Mortgage Approvals, Factory PMI Due

Mortgage approvals and final manufacturing Purchasing Managers' survey results from the UK are the major reports due on Thursday, while most of the European markets are closed for the Labor day holiday. At 2.30 am ET, Switzerland's Federal Statistical Office releases retail sales data for March. Sales are forecast o grow 1.9 percent on a yearly basis, following a 1.6 percent rise in February.
RTTNews | 3h 20min ago
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