The European Central Bank’s monetary policy transmission is working to tame inflation, though material uncertainty persists in the euro area, ECB policymaker Constantinos Herodotou said on Friday.
EURO
ECB raises interest rates for the 10th time in a row to fight inflation despite weak economic growth
The European Central Bank piled on a 10th straight interest rate increase Thursday, pressing forward in its fight against stubbornly high inflation that has been plaguing consumers even as worries grow that higher borrowing costs could help push the economy into recession.
Mario Draghi, the former Italian prime minister and European Central Bank president, will be asked to advise the EU on how to keep its economy competitive as it transitions to greener energy, European Commission President Ursula von der Leyen said.
Greek central bank chief Yannis Stournaras did not rule out a further interest rate hike by the European Central Bank in September, but added that any increase beyond that month “would be surprising.”
Eurozone government bond yields are set to end the week a few basis points lower after US data supported the view that the Federal Reserve will pause its tightening in June.
“The European Council of March will have as its main issue the competitiveness of the European economy,” Prime Minister Kyriakos Mitsotakis said on Thursday upon his arrival at the Brussels summit.
Do the almost simultaneous bank crises on the opposite sides of the Atlantic imply a disaster like the Lehman Brothers collapse? Let’s start from the United States. Banking crises start suddenly but they typically have long-term causes.
Bulgaria is scrapping its target to adopt the euro in January 2024 as it fails to meet some criteria, but should seek to join the common currency by 2025 or possibly earlier, Finance Minister Rossitsa Velkova said on Friday.
The recent drop in eurozone inflation is fueling optimism, Greek central bank chief Yannis Stournaras said on Thursday, suggesting that interest rates may not have to be raised to a level that pushes the bloc into recession.
The European Central Bank and the European Banking Authority (EBA) will this year perform stress tests on 99 credit institutions of the eurozone, including banks in Greece.
The European Central Bank is set to raise interest rates again on Thursday and pencil in more hikes for the next few months, with the only open question being how big these will be.
Behind the horrors of war, amidst successive international crises, a favorable reality for Europe (and Greece) is quietly unfolding.
More than nine years after Croatia became the European Union’s newest member, the country is on a roll to make the most of its status as the EU member in the Balkans.
European Union countries’ energy ministers were discussing a draft compromise on Monday to cap gas prices if Europe’s benchmark gas price spikes to 180 euros per megawatt hour, a document showed.
The Eurogroup has reached a historic landmark decision for Greece, Finance Minister Christos Staikouras said on Tuesday, referring to the decision by the economy and finance ministers of the eurozone to ease Greece’s national debt by some 6 billion euros. Speaking to the Greek Parliament through a teleconference from Brussels, Staikouras said: “Today is a […]
Inflation in the 19 countries that use the euro currency eased to 10% this month as fuel and utilities drifted down from painful highs, but it is near the record levels that have robbed consumers of spending power and led economists to predict a recession.
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