TAG: Europe’s economic recovery
Christine Lagarde makes a poor central banker, ECB staff say
FRANKFURT — On the global stage, European Central Bank President Christine Lagarde still exudes the...
8 months ago
German economy contracted in 2023
FRANKFURT — The German economy likely contracted in the final quarter of last year, the German stati...
8 months ago
Macron’s EU capital markets dream lies in tatters
BRUSSELS ― French President Emmanuel Macron's finance minister says he's "fed up with discussions" and "empty statements."On Friday, as leaders of every eurozone country gather in Brussels for a summit about nothing very much at all, that's exactly what h...
6 months ago
France pitches radical joint EU borrowing plan to pay for defense
BRUSSELS ― The French government is pushing for the European Union to issue joint debt to pay for increased military spending and is pitching the radical idea to its European counterparts, according to a confidential letter seen by POLITICO.In the diploma...
6 months ago
ECB keeps rates unchanged but cuts inflation, growth forecasts
FRANKFURT — The European Central Bank inched toward a first interest rate cut around the middle of the year, leaving its official interest rates unchanged but cutting its headline forecasts for both growth and inflation.The ECB’s Governing Council left it...
6 months ago
Switzerland declares victory over inflation
The Swiss National Bank became the first central bank among advanced economies to declare victory over the post-pandemic surge in inflation, cutting its key interest rate by 0.25 percentage point to 1.5 percent and hinting at more cuts in the coming mont...
6 months ago
Top ECB official: Don’t expect serious rate-cut debate before June
VIENNA – The European Central Bank is unlikely to discuss cutting interest rates seriously before June, Governing Council member Robert Holzmann said in an interview with POLITICO on Wednesday.And while the Austrian National Bank Governor expects a lively...
6 months ago
EU cuts forecasts for eurozone growth ― for the third time
BRUSSELS ― The European Commission today slashed its forecasts for economic growth and played down hopes of an immediate recovery despite the EU narrowly avoiding a recession.It is the third time the Commission has revised its growth estimates down since...
6 months ago
ECB to leave rates on hold in hope for quiet summer
The European Central Bank (ECB) is expected to keep interest rates on hold on Thursday, but an improving inflation outlook, both at home and abroad, means the door for further cuts later in the year remains wide open. Headline inflation eased to 2.5 perce...
2 months ago
Industrial revival stalled in June in Germany and France, survey shows
Industrial activity in the eurozone slumped to a six-month low in June, casting doubt over the strength of the region's economic recovery. The purchasing managers index (PMI) combined by S&P Global, a closely-watched real-time indicator of activity pr...
2 months ago
Eurozone economy grows faster than expected in Q2
The eurozone economy expanded slightly more than expected in the second quarter, as continued growth in France, Italy and Spain offset yet another disappointing quarter in Germany. Data released Tuesday by the EU's statistics agency Eurostat showed growth...
2 months ago
Sharp slowdown in wage growth boosts ECB rate cut hopes
A marked slowdown in wage growth might just be the signal the European Central Bank needs to go ahead with an interest rate cut, despite a flattering short-term boost to the economy from the Olympic Games.Wage rises under negotiated settlements, made coll...
1 month ago
ECB cuts interest rates again as inflation cools
FRANKFURT – The European Central Bank cut its key deposit rate by 0.25 percentage point to 3.50 percent, responding to a drop in inflation and increasing signs of weakness in the eurozone economy over the summer. The central bank offered few clues as to h...
1 month ago
Portuguese bank chief: ECB may need to accelerate interest rate cuts
LISBON – The European Central Bank may have to up the pace of interest rate cuts as data published since last week’s cut suggest growth and inflation could fall short of the Bank’s new projections, said rate-setter Mário Centeno. “Given the position in wh...
3 weeks ago