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Lagarde defends ECB interest rate hike as ‘robust across three scenarios’
Critics worry the decision to keep rates high could hit productivity and keep inflation from returning to target levels until 2027. European Central Bank (ECB) President Christine Lagarde has defended a decision to increase interest rates, saying it is "robust across three different scenarios".
ECB, BoE weigh ‘two possible mistakes’ as Iran war bites
European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey will spend the summer trying to shake off the ghosts of their past inflation mistakes as they move to combat spiraling prices. Europe’s most powerful economic officials face a haunting dilemma: how to respond to the Iran war without repeating the errors that followed the Covid pandemic and Russia’s invasion of Ukraine. Their decisions will shape the continent’s economic future for years to come — and...
ECB rolls the dice as first major central bank to hike rates over Iran war
FRANKFURT — The European Central Bank raised interest rates on Thursday for the first time in almost three years, becoming the first major central bank to respond to the inflationary fallout of the Iran war. It was a necessary show of resolve against inflation. Or, it will come back to haunt the ECB if higher borrowing costs amplify the economic damage from a war-driven energy shock.
The inflation surge is hitting businesses, too
Business inflation in May surged to its highest level since late 2022, as high fuel prices triggered by the war with Iran ripple across the U.S. economy. New data released Thursday showed that from April to May, the Producer Price Index rose 1.1% month-over-month. Even more notably, it rose to 6.5% from the same period a year ago.
ECB raises interest rate to tackle inflation surge
ECB raises interest rate to tackle inflation surge June 11, 2026The European Central Bank has raised interest rates for the first time in nearly three years to counter inflation linked to the Iran war. The move, which risks placing further strain on the eurozone's weak economy, highlights mounting concern over rising prices. What was the ECB rate rise?
Trading Day: War clouds and tech wobbles
Trading Day: War clouds and tech wobbles ORLANDO, Florida, June 3 : Escalating tensions in the Middle East and a wave of profit-taking in AI and tech shares cast a long shadow over markets on Wednesday, depressing the price of stocks and bonds while lifting the dollar and oil. In my column today, I look at why Japan may be "in the money" from its FX interventions. This runs counter to the view that the yen's slide back to previous intervention levels means Tokyo's efforts to support its...
Inflation hits 3.2%, highest since 2023: Are ECB rate hikes inevitable?
Eurozone inflation rose to 3.2% in May, the highest since 2023, driven by energy and services. Markets now see an ECB rate hike next week as done deal. Price pressures across the euro area accelerated again in May, as the disruptions from the Strait of Hormuz blockade continued to ripple through energy markets, pushing inflation to its highest level in almost three years and cementing expectations of an imminent European Central Bank rate hike.
US stocks today: Wall Street rebounds as AI stocks recover despite Iran war worries
US stock markets traded higher on Thursday, with technology and artificial intelligence (AI)-linked stocks rebounding after a volatile week, while investors continued to monitor rising geopolitical tensions in the Middle East, inflation concerns and global interest rate expectations. The benchmark S&P 500 rose 0.5% in morning trade, recovering some of the losses recorded over the previous two sessions. The Dow Jones Industrial Average gained 326 points, or 0.7%, while the Nasdaq Composite...
ECB Hikes for First Time Since 2023 as Inflation Heats Up
Photographer: Liesa Johannssen/Bloomberg
Eurogroup chief tells Euronews 'fiscal policy must not contradict ECB' effort to tame inflation
Pierrakakis tells Euronews fiscal policy must not contradict the ECB's efforts to tame inflation as the central bank prepares to raise interest rates. Rome is calling for more flexibility pegged to rising energy costs as a result of war. Eurogroup President Kyriakos Pierrakakis told Euronews that fiscal policy across the euro area must complement the efforts of the European Central Bank to contain inflation, after the conflict in the Middle East triggered an increase in energy prices across...