WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market.
SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected.
BRUSSELS (AP) — European Union leaders agreed Friday that Croatia will join the group of countries using the euro, bringing the number of nations sharing the currency to 20 starting in January.
“The euro is the monetary expression of our shared destiny and has been part of our European dream," said EU Council President Charles Michel, who chaired a summit of bloc leaders in Brussels.
A European Central Bank poised to raise interest rates for the first time in 11 years vowed Wednesday to create an unspecified market backstop that could buffer member countries against financial turmoil like that seen during a debt crisis more than a decade ago.
AMSTERDAM (AP) — The European Central Bank will raise interest rates next month for the first time in 11 years and add another hike in September, catching up with other central banks worldwide as they pivot from supporting the economy during the COVID-19 pandemic to squelching soaring inflation.
TOKYO (AP) — Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above $120 a barrel, adding to price pressures.
Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese exporters higher.
FRANKFURT, Germany (AP) — The president of the European Central Bank on Monday gave the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation.
The head of the European Central Bank reiterated Thursday that the bank would raise interest rates “some time after” ending its pandemic stimulus efforts later this year, sticking to a gradual path even as the United States, United Kingdom and other countries take a harder line to combat soaring consumer prices.
FRANKFURT, Germany (AP) — European Central Bank President Christine Lagarde tweeted Thursday that she tested positive for COVID-19 and has mild symptoms but will continue working from home.
“I am vaccinated and boosted, and my symptoms are thankfully reasonably mild,” Lagarde, 66, wrote on Twitter.
NICOSIA, Cyprus (AP) — No data currently suggests Europe will fall into stagflation, a combination of high inflation, little or no economic growth and high unemployment, the European Central Bank 's president said Wednesday.
NICOSIA, Cyprus (AP) — RCB Bank in Cyprus said Thursday an “extremely volatile geopolitical situation” has prompted it to wind down operations and turn itself into an asset management company.
The announcement came exactly a month after the start of Russia’s invasion of Ukraine.
The European Central Bank said Thursday that it will make an early exit from its economic stimulus efforts as it combats record inflation that threatens to go ever higher as energy prices soar during Russia's war in Ukraine.
BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street fell as investors watched for signs of whether global central banks will try to cool inflation by speeding up the withdrawal of economic stimulus.
FRANKFURT, Germany (AP) — The head of the European Central Bank said record inflation could linger for “longer than expected” and appeared to open the door at least a crack for an interest rate increase this year.
FRANKFURT, Germany (AP) — Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row, extending pain for consumers and sharpening questions about future moves by the European Central Bank.
BERLIN (AP) — A senior European Central Bank official says that raising interest rates prematurely could “choke off the recovery,” comments that come as inflation in the 19-nation euro area has hit a record rate.
FRANKFURT, Germany (AP) — The European Central Bank is celebrating the 20th anniversary of euro notes and coins as member countries wrestle with the pandemic's impact on the economy and the European Union forges a new level of financial cooperation to help boost the recovery.
BERLIN (AP) — The new German government has chosen an experienced central banker and former board member of Germany's state-owned development bank to head the country's central bank, the finance minister said Monday.
LONDON (AP) — The United Kingdom's central bank on Thursday became the first in a major advanced economy to raise interest rates since the coronavirus pandemic began, as banks controlling monetary policy around the globe shift their focus from stimulating the economy to combating soaring consumer prices that arrived during the recovery.
FRANKFURT, Germany (AP) — The European Central Bank decided Thursday to avoid an abrupt end to its pandemic crisis support for the economy as the new omicron variant of COVID-19 stirs uncertainty about the recovery, despite inflation hitting record highs and the U.S.
BERLIN (AP) — The European Central Bank said Monday that it plans to redesign its euro banknotes, with a final decision on the new look expected in 2024.
The euro was introduced in cash form in 2002, with banknotes based on what the Frankfurt-based central bank for the 19-nation euro area calls an “ages and styles” theme — with generic windows, doorways and bridges from various eras that don't represent any specific place or monument.
FRANKFURT, Germany (AP) — The head of the European Central Bank warned that high oil and gas prices are hitting consumers in the 19 countries that use the euro harder than in other major economies and underlined that the bank won't add to the squeeze by raising interest rates anytime soon.
FRANKFURT, Germany (AP) — The European Central Bank decided Thursday to keep its pandemic stimulus efforts unchanged even as consumer prices spike and central banks in other parts of the world look to dial back support as their economies bounce back from the worst of the COVID-19 outbreak.
FRANKFURT, Germany (AP) — Deutsche Bank saw its net profit increase 6%, to 329 million euros ($381 million), in the third quarter despite a sharp increase in restructuring costs. The bottom line at Germany's largest bank benefited from fewer loans going bad as the economy rebounds from the coronavirus pandemic and credit support from governments and the European Central Bank.
BERLIN (AP) — The head of Germany's central bank announced Wednesday that he will step down after a decade at the helm, removing a key hawkish voice from the European Central Bank’s governing council.
FRANKFURT, Germany (AP) — Sharply higher oil and gas prices have pushed annual inflation in the 19 countries that use the euro to its highest in more than a decade in September. Economists and central bankers say the jump in inflation is temporary, but governments nonetheless are scrambling to ease the pain of higher household utility bills.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday defended the ultra-low interest rate policies he has pursued since the pandemic decimated the economy more than 18 months ago.
But he acknowledged inflation has stayed higher for longer than he expected.
FRANKFURT, Germany (AP) — Europe's current burst of inflation is temporary and won't lead the European Central Bank to “overreact” by withdrawing stimulus or raising interest rates, ECB President Christine Lagarde said Tuesday.
FRANKFURT, Germany (AP) — The European Central Bank's first climate stress test shows higher risks of loan defaults for banks in fire-plagued southern Europe and argues that an earlier and orderly shift to greener energy may have costs — but pay off for the economy over the long run.
Shares were higher in Asia on Friday as investors stepped up buying despite another decline on Wall Street that kept the S&P 500 and the Nasdaq on track for their first weekly losses in three weeks.
FRANKFURT, Germany (AP) — The European Central Bank will dial back some of its massive emergency pandemic support for the economy amid signs of increasing business activity and consumer readiness to spend as the 19 countries that use the euro rebound from the coronavirus recession.
BEIJING (AP) — Asian stock markets rose Tuesday as investors watched for decisions from central banks in Europe and elsewhere about when they might start to wind down economic stimulus.
Shares advanced in Shanghai, Tokyo and Hong Kong, which are the bulk of Asia's market capitalization.
FRANKFURT, Germany (AP) — Facing unease over the spread of a more-contagious variant of the coronavirus, the European Central Bank said it would maintain its stimulus in the form of ultra-low interest rates until inflation “durably” reaches its 2% target.
FRANKFURT, Germany (AP) — The European Central Bank has adopted a new approach to managing the economy that would tolerate transitory periods of consumer inflation moderately above its 2% goal — and take greater account of climate change in its forecasting and stimulus programs.
MILAN (AP) — The COVID-19 pandemic hit Italy especially hard, killing more than 127,000 people and sending the European Union's third-largest economy into a devastating tailspin.
Yet out of that tragedy may come solutions for decades-old problems that have held back growth and productivity — and with them, a new sense of stability for the euro, the currency shared by 19 of the European Union's 27 members.
FRANKFURT, Germany (AP) — The European Central Bank left its key pandemic support for the economy running full blast even as the economy shows signs of recovery thanks to lower virus cases and fewer restrictions on activity in the 19 countries that use the euro currency.
BERLIN (AP) — The European Union on Wednesday launched proceedings against Germany over a ruling by the top German court last year on a European Central Bank bond-buying program that broke with a verdict from the EU's own top court.
FRANKFURT, Germany (AP) — The European Central Bank is expected to leave its stimulus efforts running at full steam Thursday — even as the economy shows signs of recovery thanks to the easing of pandemic restrictions.
FRANKFURT, Germany (AP) — Eurozone inflation rose to 2.0% in May, driven higher by rising oil prices as other inflationary pressures appeared to remain subdued.
The modest price rise in Europe compares with a much stronger jump in the US that has led to discussion about the inflationary impact of stimulus and relief policies from government spending and central banks.
FRANKFURT, Germany (AP) — The European Central Bank says risks to the stability of companies, banks and financial markets remain “elevated” due to the uneven impact of the pandemic on the economy, warning that the eventual removal of relief measures could lead to a surge in bankruptcies.
LONDON (AP) — The eurozone economy received a double dose of bad news Monday as inflation fell further away from the European Central Bank's target and a closely monitored survey showed the crucial manufacturing sector shrinking at its fastest rate in six years...
LONDON (AP) — Further signs of a cooldown in the eurozone economy emerged Friday, weighing on expectations that the European Central Bank will start raising interest rates this year.
Inflation across the 19-country currency union fell in December to an eight-month low in the wake of the recent slump in oil prices.
FRANKFURT, Germany (AP) — The euro is about to celebrate its 20th birthday, but the countries that use it are still wrestling with how the shared currency should work and how to fix flaws exposed by the debt crisis that marred its second decade...