Germany tips into recession and analysts warn economy won’t get much better May 25, 2023 Germany slipped into an official recession over the winter, triggered by family finances being crushed by sky high energy bills, official figures out today show. Revised estimates from the country’s statistics agency, Destatis, revealed gross domestic product (GDP) contracted 0.3 per cent in the first three months of this year. The organisation previously thought output [...]
UK isn’t alone in this recession merry-go-round – just look at Europe May 16, 2023 It’s worth remembering that Britain isn’t some sort of pariah in the rich world that’s undergoing a tough economic slump, which is threatening to extend the growth slow down since the 2008 financial crisis. Europe’s major economies, led by Germany, its powerhouse, are also in the teeth of a slump. Numbers out last week revealed [...]
EU top body lifts economic growth forecast saying Europe dodged dreaded recession May 15, 2023 The European Union’s executive body has raised its economic growth forecast, saying Europe has dodged a winter recession that was feared amid an energy crisis. The outlook for the 20 countries using the euro currency improved to growth of 1.1 per cent this year from 0.9 per cent in the previous predictions in February, the [...]
European Central Bank hikes interest rates for seventh time in a row and Lagarde signals more rises May 4, 2023 The European Central Bank (ECB) today hiked interest rates for the seventh time in a row and slowed the pace of its aggressive campaign to tame inflation, though its chief Christine Lagarde signalled more rises are coming. She and the rest of the governing council sent borrowing costs among the 20 countries using the euro [...]
Eurozone core inflation falls, opening door to smaller ECB interest rate hike May 2, 2023 Inflation is receding faster than expected in Europe, raising the prospect of the bloc’s central bank slowing the pace of its interest rates hike this week, new figures out today reveal. The rate of underlying price increases – known as core inflation – in the group of 20 countries using the euro thinned to 5.6 [...]
Take your seat for the Bank of England, Federal Reserve and central banks’ final act May 2, 2023 This is the final act in central banks’ aggressive interest rate hike cycle. Well, so say most analysts at the moment.
ECB hikes interest rates to highest level since financial crisis, ignoring market turmoil centred on Credit Suisse and European banks March 16, 2023 The European Central Bank (ECB) today hiked interest rates 50 basis points despite concerns about Credit Suisse’s finances sparking turmoil in the bloc’s banking market. President Christine Lagarde and co’s move was in line with expectations and takes Euro borrowing costs to three per cent, the highest level since the financial crisis in 2008. Markets [...]
Week ahead: ECB Lagarde to sign off on another 50 point interest rate hike and Deliveroo updates markets March 12, 2023 Topping City traders’ minds this week will be what is tipped to be another 50 basis point interest rate hike by the European Central Bank (ECB) on Thursday. The monetary authority of the 20 countries using the euro has explicitly told markets to expect another steep rate hike this week and possibly more in the [...]
Inflation in Europe rises to record high, raising spectre of steep ECB interest rate hikes March 2, 2023 European inflation is running at record levels, piling pressure on the European Central Bank (ECB) to keep hiking interest rates aggressively this year. The rate of core price increases bumped to a record 5.6 per cent last month, up from 5.3 per cent and up to the highest level since records began in 1999, according [...]
ECB expected to hike rates to a record four per cent as central bank struggles to tame inflation February 28, 2023 The European Central Bank (ECB) will hike interest rates to their highest level since the monetary authority of the group of countries using the euro was created in 1999, markets are betting. President Christine Lagarde and the rest of the governing council, Europe’s equivalent to the Bank of England’s monetary policy committee, are poised to [...]