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The Latest Breaking News from eurozone

The European Central Bank seems to have got away with raising interest rates in the middle of a banking crisis – here's why

In the middle of a market panic that has felled two US banks and pushed several others to the brink, the European Central Bank (ECB) has raised interest rates by another 0.5 percentage points. The ECB’s president, Christine Lagarde, had been warning this was necessary to bring eurozone inflation back…

The Conversation

Are interest rates really going to keep rising sharply?

For anyone trying to understand where interest rates and inflation are heading, it has been a strenuous few days. Jay Powell, chairman of US central bank the Federal Reserve, warned senators he may have to do more to fight inflation than expected, indicating the prospect of interest rates rising more…

The Conversation

ECB looking out for price gouging as fears grow over ‘greedflation’

Concerns that a big driver of price rises may be firms using inflation as excuse to increase profit margins

The Guardian - UK

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European Union increases growth forecast as eurozone dodges recession

Europe's economy will grow more than previously forecast this year as it avoids a winter recession, with inflation expected to ease and gas prices continue to fall.

Radio France Internationale

Britain to be worst-performing major economy this year, warns IMF; UK mortgage approvals tumble and company insolvencies surge – as it happened

Britain is the only G7 economy forecast to shrink in 2023, the IMF says, as higher energy prices, rising mortgage costs and increased taxes hit growth.

The Guardian - UK

Eurozone economy starts growing again with positive indications for 2023

The Eurozone economy grew in January for the first time in six months, raising hopes that Europe will manage to avoid recession this winter.

Radio France Internationale

Iraq Tells Visiting Italy PM It Seeks Closer Economic Ties

Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni on Friday for closer economic ties with his oil-rich country suffering from power cuts and decaying infrastructure. Meloni, who leads the eurozone's third-largest economy, is on her first bilateral trip outside Europe.

Asharq Al-Awsat

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Eurozone inflation slowdown raises hopes that price rises may be near their peak

Energy price rises ease while the pace of increasing food costs accelerates, with all eyes on the ECB’s next rate call

Evening Standard

The Catch-22 rules of the Euro Monopoly game

To make the eurozone more stable, it needs stricter and enforceable rules. But because it is so unstable, no such rules can ever be introduced, writes Oliver Hartwich

Newsroom.co.nz

Eurozone inflation hits record high of 10.7%; UK mortgage approvals, credit card borrowing fall – as it happened

Inflation jumps because of higher energy and food costs but eurozone avoids recession with 0.2% GDP growth in third quarter; wheat prices soar on world markets

The Guardian - UK

ECB makes biggest rate hike in eurozone history lifting rates by 0.75%

European Central Bank intensifies its fight against inflation but euro falls under parity with the dollar

Evening Standard

Inflation: why it's very unlikely to get back below 2% for years to come

Inflation in the UK and eurozone is still getting worse. UK prices rose a whopping 10.1% in July compared to a year earlier, while those in the eurozone went up 8.9% – breaking longstanding records in both places. Contrast this with the equivalent data from the US a few days…

The Conversation

Inflation Hits Record 8.9% in 19 Countries Using the Euro

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine, but the economy still managed some meager growth. Annual inflation in the eurozone’s 19 countries rose to 8.9% in July, an increase…

Asharq Al-Awsat

ExxonMobil and Chevron shatter profit records; eurozone inflation hits record 8.9% – business live

US oil companies post huge earnings, as sky-high fuel costs hit consumers and drive up inflation

The Guardian - UK

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The Guardian - UK

IMF says global economy is edging towards recession

Fund cuts forecasts as US, China and eurozone stall and inflation beats expectations

France 24

Italy's president refuses Prime Minister Draghi's resignation

Italy’s President Sergio Mattarella on Thursday refused to accept Prime Minister Mario Draghi’s resignation, in a political crisis experts warned could send the eurozone’s third largest economy to snap elections.

The Guardian - UK

European Central Bank to raise interest rates for first time since 2011

Base rate to rise by 0.25% and quantitative easing to stop in July after ECB warns about inflation

France 24

Inflation inequality: Soaring prices weigh on low-income households

Inflation is at its highest level in decades in many parts of the world. In the US, consumer prices were 8.3 percent higher in April than a year earlier. In the eurozone, they rose by around 7.5 percent. Energy prices have been driving the surge, with Russia's war in Ukraine…

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Bangkok Post

When will inflation stop happening?

Until a few years ago, major economies were struggling to achieve even mild inflation, with policymakers in the United States, United Kingdom and eurozone struggling to meet their targets of 2% annual price growth. But with the arrival and persistence of Covid-19, the world changed dramatically. Two years later, everyone…

Financial Times

The global stagflation shock of 2022: How bad could it get?

The double blow of pandemic and war has caused inflation to surge and growth to slow around the world. But experts do not expect a return to the 1970s

The Guardian - UK

Eurozone growth slips as Russia-Ukraine war pushes up energy costs

France’s economy stalls and Italy’s shrinks but Germany rebounds from contraction

The Guardian - UK

High prices and low growth should nip UK and eurozone interest rate rises in the bud

Central banks talk tough about tackling inflation, but raising borrowing costs now risks plunging us into recession this year

The Guardian - UK

Inflation pressures hit consumer confidence; Moscow stock market falls back – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

US inflation rises to new 40-year high of 7.9%; Abramovich sanctioned by UK – as it happened

ECB raises inflation forecasts, cuts growth outlook amid Ukraine conflict, as stock markets slide and Chelsea FC owner is sanctioned by Britain

The Guardian - UK

Oil price jumps to nearly $114; natural gas prices reach record highs – as it happened

US and European shares push higher, while rouble drops 8% and Moscow stock exchange stays shut for third day, as Russia bombards Ukrainian cities

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