European Central Bank President Christine Lagarde said the central bank can raise rates faster, if needed. Handout | Getty Images News | Getty Images European Central Bank President Christine Lagarde on Tuesday played down concerns about a recession in the euro zone, also saying her team is ready to raise rates at a faster pace — if needed — if …
Habeck has previously warned the situation is going to be “really tight in winter” without precautionary measures to prevent a gas supply shortage. Picture Alliance | Picture Alliance | Getty Images Germany has declared it is moving to the so-called “alert stage” of its emergency gas plan, as reduced Russian flows exacerbate fears of a winter supply shortage. Economy Minister …
More than four in five people in the U.K. are worried about rising living costs and their ability to afford basics necessities like food and energy over the coming months, according to a new survey. Tolga Akmen | Afp | Getty Images LONDON — U.K. inflation hit 9.1% year-on-year in May as soaring food and energy prices continue to deepen …
The European Central Bank announced an unscheduled monetary policy meeting for Wednesday, at a time when bond yields are surging for many governments across the euro zone. “They will have an ad hoc meeting to discuss current market conditions,” a spokesperson for the central bank told CNBC. Borrowing costs for many governments have risen sharply in recent days. In fact, …
National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. Maxim Shemetov | Reuters The Central Bank of Russia on Friday cut its key interest rate by 150 basis points to 9.5% — the level it was at when Russia’s invasion of Ukraine began. Although acknowledging that the external environment for the Russian economy remains …
U.K. Prime Minister Boris Johnson Wpa Pool | Getty Images News | Getty Images The U.K.’s Prime Minister Boris Johnson will face a vote of confidence later on Monday amid increasing dissatisfaction in his leadership. To trigger a vote of confidence, 15% of Conservative lawmakers (or 54 of the current 360 Conservative Party MPs) are required to write letters to …
Sunak previously described the idea of a windfall tax on oil and gas majors as “superficially appealing” but a decision that would ultimately deter investment. Jonathan Brady – Pa Images | Pa Images | Getty Images LONDON — U.K. Finance Minister Rishi Sunak has imposed a windfall tax on oil and gas majors as the government scrambles to alleviate the …
MOSCOW, Russia: The Russian central bank has implemented a range of capital controls in a bid to support domestic assets and the ruble currency, as international sanctions squeeze the economy following Russia’s invasion of Ukraine. KIRILL Kudryavtsev | AFP | Getty Images The Central Bank of Russia on Thursday cut its key interest rate from 14% to 11%, citing a …
A customer pays for his fruit and vegetables with a ten pound sterling note, at a trader’s market stall in London on May 12, 2022. – Britain’s economy shrank in March on fallout from soaring inflation, increasing the prospect of the country falling into recession. Official first-quarter data on Thursday showed that following solid output in January, the UK economy …
Truss had previously warned the U.K. would have “no choice but to act” if EU lawmakers do not show the “requisite flexibility” over the protocol. Janine Schmitz | Photothek | Getty Images British Foreign Secretary Liz Truss confirmed on Tuesday that the government intends to introduce legislation to make changes to the Northern Ireland protocol. The protocol is part of …
