European Central Bank

The US dollar weakened on Wednesday, poised for its biggest annual drop since 2017, as investors anticipate further Fed rate cuts. The euro and pound sterling strengthened, reaching new three-month highs.

European Central Bank President Christine Lagarde expressed confidence that EU leaders will agree on a way to support Ukraine. She expects a solution to be found, despite possible difficulties, as the issue is too important.

Rating agency Fitch has placed Euroclear Bank's ratings on Rating Watch Negative due to EU plans to use frozen Russian assets for a 'reparations' loan to Ukraine. This could lead to increased legal and liquidity risks for Euroclear.

ECB President Christine Lagarde stated that the new EU proposal on using frozen Russian assets to support Ukraine is the most compliant with international law. EU leaders are discussing the involvement of 210 billion euros of Russian sovereign assets frozen in Europe.

The 2026 budget lays down a record need for external injections and a significant increase in expenditures. As fintech expert Olena Sosedka notes, the economy will be extremely sensitive to financing delays, and the dollar exchange rate may temporarily rise to UAH 49.

The European Central Bank has rejected participation in the European Commission's proposal to use frozen Russian assets. This complicates the attraction of a loan secured by the immobilized assets of the Russian central bank.

The US dollar held firm at high levels in early Asian trading on Friday after reaching a three-month high. The dollar index remained stable at 99.478 after the stock market fell on Wall Street on Thursday.

Germany's annual inflation rate fell to 2. 3% in October after 2.4% in September, exceeding the market forecast of 2.2%. The slowdown was driven by cheaper energy and slower food price growth, while the cost of services continued to rise.

Why the National Bank is preventing a sharp fall of the national currency and what will happen to the dollar.

The US opposes the EU's plan to use frozen Russian assets to support Ukraine, citing risks to market stability. This move is a setback for the EU, which has been trying to persuade G7 countries to join its initiative.

The European Court of Human Rights has ordered Ukraine to pay former SFS head Roman Nasirov 9,750 euros in compensation for inadequate medical care. The court found a violation of Article 3 of the Convention due to the lack of adequate treatment and the non-execution of court decisions regarding his hospitalization.

President Zelenskyy informed European Central Bank President Christine Lagarde about the consequences of the Russian attack on Ukraine's energy system. They discussed the use of frozen Russian assets for Ukraine's recovery.

In September, eurozone inflation accelerated to 2. 2%, exceeding the ECB's target of 2%. This confirms expectations that the ECB will not cut interest rates this year.

Most employees in Europe are not willing to accept a significant pay cut for the opportunity to work a few days a week from home. Only 13% would agree to a 1-5% reduction in income, and 8% to a 6-10% reduction.

This summer, severe weather conditions in Europe caused short-term economic losses of at least €43 billion. By 2029, these losses are expected to increase to €126 billion.

Syria plans to remove two zeros from its currency and issue new banknotes to restore confidence. The banknotes will be printed by the Russian company Goznak, which has already cooperated with Syria.

The European Union is accelerating the launch of the digital euro due to a new US stablecoin law, which has raised concerns about the competitiveness of the European currency. The placement of the digital euro on public blockchain platforms, such as Ethereum or Solana, is being considered.

Spot gold prices rose 0. 6% to $3368.39 per ounce, while US gold futures rose 0.5% to $3376. This occurred amid a weakening dollar and expectations regarding trade talks and the Fed meeting.

Euroclear CEO Valerie Urbain believes that the European Commission's plan to invest frozen Russian assets in riskier instruments to increase profits for Ukraine is "expropriation. " She warns of significant risks and potential losses that could arise from such actions.

Volodymyr Zelensky met with Christine Lagarde, discussing the use of frozen Russian assets and the continuation of sanctions. Macrofinancial stability and European integration were also discussed.

Christine Lagarde stated that financial integration does not necessarily lead to crises if countries have consistent policies. Key factors are directing capital to the real sector and the stability of the banking system.

The head of the Central Bank of China announced the emergence of a new currency order, where the yuan will compete with the dollar. China strives for a multipolar system against the background of trade disputes with the United States.

The Association of Ukrainian Banks has included the leading Ukrainian insurtech project UKASKO as a member.

The European Commission has approved Bulgaria's transition to the euro from January 1, 2026, which will make it the 21st country in the Eurozone. The assessment confirms Bulgaria's compliance with the convergence criteria.

European stock markets are soaring as investors reorient towards European assets due to Trump's trade policy. The Stoxx 600 index is outperforming the S&P 500 by a record 18%

The court found Peter Kažimír guilty of bribery when he was Minister of Finance. He has to pay a fine of 200,000 euros, but remains in office for now.

The European Commission and the European Central Bank will give their consent for Bulgaria to join the Eurozone. This is expected to happen on January 1, 2026, making the country the 21st member of the currency union.

The European Central Bank expects all decisions regarding the digital euro to be made by the beginning of next year. The launch of the currency is expected in two to three years after that.

Oleksiy Poroshenko did not pay the military tax on income abroad for 2023-2024. The amount of unpaid taxes is estimated at UAH 770 million.

US trade shock rocked markets and confidence, exacerbating global threats according to a Brookings-FT study. IMF is set to cut growth forecasts due to rising uncertainty.