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Finance

ECB raises deposit rate to 2.5 percent as oil tops $100 a barrel

The European Central Bank raised its benchmark deposit rate to 2.5 percent, citing a surge in energy prices tied to Middle East conflict and concern inflation will stay high for longer. The ECB also lifted its main refinancing rate to 2.65 percent and the marginal lending facility to 2.90 percent from Sept. 16. It nudged up its 2026 euro zone growth forecast and warned of second-round effects from energy to broader prices.

Crypto

Why bitcoin cannot clear $80,000 as oil surge to $100 adds pressure

Bitcoin erased overnight gains after U.S. stocks opened on Sept. 9, as investors grew cautious ahead of U.S. producer and consumer price data. Major altcoins also fell. Brent crude climbed above $100 a barrel for the first time since July 23, adding pressure on risk assets, while Treasury yields stayed high. Spot bitcoin ETF flows turned negative on Sept. 8. In contrast, Zcash surged on ETF-related developments and the launch of options trading.

Finance

U.S. Treasury to buy back up to $6 billion in Treasuries as yields jump on $40 trillion debt

The U.S. Treasury will buy back up to $6 billion of outstanding nominal Treasuries with 10 to 20 years remaining maturity to boost liquidity in the long-term bond market. The amount is triple the usual per-operation cap, but Treasury yields continued to rise after the announcement. Investors pointed to federal debt above $40 trillion, increased supply and inflation worries, while some criticised the move as risking expectations of larger intervention.