German business costs accelerate at quickest pace on record german economy German business costs have soared at the fastest rate ever in a sign that more financial woe is set to be heaped on consumers. Input prices, known as the producer price index, surged 45.8 per cent last month, according to Germany’s statistics agency. The record jump was driven by a near tripling in electricity prices. [...]
European Central Bank fires record rate rise shot to tame scorching inflation Rate hike The European Central Bank (ECB) today hiked interest rates by the biggest amount since its creation in 1999 as it steps up its fight against a historic inflation surge on the Continent. President Christine Lagarde and co lifted borrowing costs in the bloc of 19 countries using the euro 75 basis points. The move takes [...]
European Central Bank could be forced into 75 basis point hike to tame record inflation eurozone economy The European Central Bank could be forced to hike interest rates by a historic 75 basis points next week to tame the largest inflation surge on record, economists bet today. The monetary authority governing the 19 countries using the euro may have to respond strongly or risk elevated prices being embedded into the bloc’s economy [...]
Recession looms over European economies grappling with soaring gas prices August 23, 2022 Recession is looming over Europe’s largest economies, driven by record inflation fuelled by high energy prices squeezing businesses and households, surveys published today showed. Consumers on the Continent are shrinking spending in response to record inflation sharply hitting their finances. Elevated gas costs, caused by Russia seemingly retaliating to western sanctions after the Ukraine invasion [...]
What the new interest rates mean for the City: ‘The UK fares worse than the EU and US’ August 13, 2022 The Bank of England’s decision to further raise interest rates from 1.25 per cent to 1.75 per cent and its two-year predictions means bad news for investors and UK residents alike. And the pain is far from over. A top City analyst expects this to further rise to 2.25 per cent in September. Other than [...]
A technical recession: How bad will it be? August 7, 2022 It is no surprise that US GDP growth is declining given the slowdown in consumer spending and domestic production recently. However, markets seem fraught with headline risk with the term ‘technical recession’ floating around. Analysts have pointed out the looming risk of a recession given the central bank’s aggressive tightening cycle while Fed chair Powell [...]
Scorching inflation hits eurozone retail sales in sign of looming recession August 3, 2022 Surging inflation eroding Europeans’ living standards is squeezing spending in the bloc, reveal new figures published today. Retail sales dropped 1.2 per cent in the 19 countries that use the euro in June, down from a 0.4 per cent rise in May, Eurostat said. The drop, which was worse than analysts’ forecasts, means retail sales [...]
Eurozone inflation surges to fresh record high dialling up pressure on ECB July 29, 2022 Prices are rising are the fastest pace on record in the eurozone, figures published today revealed. Inflation surged to 8.9 per cent, up from 8.6 per cent in June, the highest rate since the creation of the euro in 1999. The fresh figures dial up pressure on the European Central Bank (ECB) to hoist interest [...]
Homeowners on edge as inflation and interest rates rise: What is next for UK mortgage rates? July 26, 2022 Many people up and down the country will be feeling the financial strain of the cost-of-living crisis, and this’ll only add more pressure on the monthly budgets of millions of UK mortgage homeowners and of those currently looking to buy. With the Bank of England’s base rates having risen to 1.25 per cent in June [...]
European Central Bank marks first rate rise in over a decade with shock 50 basis point move July 21, 2022 The European Central Bank (ECB) today marked its first interest rate rise in over a decade with a shock 50 basis point move. The biggest inflation surge in the eurozone since the creation of the single currency in 1999 forced President Christine Lagarde and co to launch the bigger hike. The Continent’s monetary authority has [...]