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ECB Decides On Hike Rates Given that economic data suggest that the main interest rate is faltering and that loan demand has fallen to a historic low,  people expected that the ECB will most likely raise its primary interest rate (the deposit rate) to 3.75%. advertisement The rapid increase in rates may have a negative impact on the expansion of loans in the euro region and, consequently, on economic activity. In a quarterly poll released on Tuesday, the ECB noted that “Firms’ net demand for loans fell strongly in the second quarter of 2023, dropping to an all-time low since the survey’s inception in 2003.” Due to the euro zone’s less developed and liquid capital markets than those of the United States, banks dominate how the economy is financed. According to ECB Chief Economist Philip Lane , the tighter monetary policy is having a quick impact, especially on bank loans. Also Read: Hong Kong Central Bank Collaborates With Saudi...

FTX EU was only approved by the Cyprus regulator in March, 2022, about seven months before FTX collapsed in November. The European arm of FTX, FTX EU has launched a website to allow European customers to submit withdraw al requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. The new website domain name — https://ftxeurope.eu/ — was reportedly approved by the Cyprus Securities and Exchange Commission according to a report in Finance Magnates. A screenshot of the newly launched website to withdraw funds from FTX EU. Source: FTX Europe The new domain will not offer any products or services other than to pay back impacted customers, the report said, referencing an email received by FTX Europe. "Please be informed that our new domain, www.ftxeurope.eu, has been approved by our regulator CySEC as you have well identified. The website will only be used for all FTX EU LTD clients to be able to claim their FIAT balances....