Miguel Angel Fernandez Ordonez

Spain's deficit expected to grow to 3 per cent

Madrid - The global economic crisis could raise Spain's public sector deficit to about 3 per cent of gross domestic product (GDP) this year, the governor of the Spanish central bank said Wednesday. Miguel Angel Fernandez...

ECB talks up rate cuts with Europe in recession

FRANKFURT (Reuters) - European Central Bank officials talked up the chances of interest rate cuts on Friday as the euro zone entered its first recession in its 10-year history. Data showed the financial crisis had helped...

UPDATE 1-Spanish bank profits to be hit by bad debt -cenbank

By Andrew Hay MADRID, Nov 5 (Reuters) - Spanish banks' results will suffer in coming quarters as they are forced to increase provisions for rising bad debts amid the global financial crisis and domestic economic slowdown, the...

BBK and Kutxa to form third-largest savings bank

If approved, the merger will see a new bank in Spain called Caja de Ahorros y Monte de Piedad de Euskadi. MADRID - Two Basque savings banks on Thursday announced that they have agreed to combine their businesses in what could...

UPDATE 1-ECB could cut rates again next week - Quaden

BRUSSELS, Oct 31 (Reuters) - vThe European Central Bank may cut interest rates again when it meets next week, governing council member Guy Quaden said in a joint newspaper interview published on Friday. 'The ECB meets next week...

ECB's Quaden Says that Rate Cut is Possible, Crisis the Worst Since '30s

Frankfurt - European Central Bank Governing Council member Guy Quaden said that a further cut in the ECB's main refinancing rate is possible, echoing previous comments from both ECB President Jean-Claude Trichet and follow...

Rate Cuts a Possibility Next Week, Says ECB's Ordonez

Frankfurt - European Central Bank Governing Council member Miguel Angel Fernandez Ordonez said that the ECB could cut interest rates at its meeting next week, echoing comments from central bank president Jane-Claude Trichet...

ECB's Ordonez-possible to lower rates at next meeting

BARCELONA, Oct 30 (Reuters) - It is possible the European Central Bank will lower interest rates next week, Governing Council member Miguel Angel Fernandez Ordonez said on Thursday. On the sidelines of a Barcelona business...

MONEY MARKETS-Dollar interbank rates tumble after Fed cuts (at Reuters)

Dlr Libor rates lower, extend near 3-wk fall after Fed cuts * Euro and stg rates also lower as stock recovery boosts confidence * Fed swap lines ease Asian rates By Kirsten Donovan LONDON, Oct 30 (Reuters) - The cost banks...