Sign in Subscribe

Europe Economy

ECB President Signals End to Inflation Surge, But Cautions on Services and Wages

European Central Bank (ECB) President Christine Lagarde has indicated that the Eurozone is nearing the point where it can declare victory over the recent surge in inflation, but cautioned that vigilance is still needed, particularly regarding services and wage growth. In an interview with the Financial Times’ Martin Wolf on

Portugal Home Prices Surge on Foreign Demand and Shortage

Home prices in Portugal saw their most significant quarterly increase in almost two years during the third quarter, fueled by strong foreign demand and a chronic shortage of homes on the market, as reported by Bloomberg. Portugal's National Statistics Institute revealed that home prices climbed 9.8% year-on-year

ECB's Lagarde Declares Victory Over Inflation's "Darkest Days"

European Central Bank President Christine Lagarde has declared that the worst of the Eurozone's inflation battle is behind it, signaling a shift in the central bank's stance, reports the Financial Times. "The darkest days of winter look to be behind us," Lagarde stated in

Germany Ends 2024 in Contraction, Manufacturing Plummets

Germany's private sector ended 2024 in contraction for the sixth consecutive month, although the rate of decline slowed slightly due to a modest rebound in services activity, according to the latest HCOB Flash PMI survey data from S&P Global. Manufacturing, however, remained deeply in recession, experiencing

Eurozone Private Sector Contracts as Job Cuts Accelerate

The Eurozone private sector ended 2024 in contraction, with business activity declining for the second consecutive month, according to provisional PMI survey data from S&P Global, released today. The downturn, driven by a sharp fall in manufacturing output and sustained decline in new orders, resulted in the fastest

ECB Cuts Rates for Fourth Time This Year

The European Central Bank (ECB) cut interest rates for the fourth time in 2024, signaling continued easing ahead as inflation moderates and the Eurozone economy remains sluggish. The central bank reduced the deposit rate, which influences borrowing costs across the bloc, to 3.0% from 3.25%. This rate, which

Turkey Raises Inflation Forecasts, Aligning With Market Expectations

Turkey's central bank has revised its inflation forecasts for 2024 and 2025 upwards, bringing them closer to market expectations, reports Bloomberg. This move follows two consecutive months of price gains exceeding initial estimates. Officials now project inflation to reach 44% at the end of this year and 21%

ECB Policymakers Shift Focus to Inflation Undershoot Risk

In a noticeable shift in tone, European Central Bank (ECB) policymakers are increasingly expressing concern over the risk of inflation falling below their 2% target, reports Reuters. This comes after years of grappling with excessively high inflation. While eurozone inflation dipped to 1.7% last month and is projected to

Norway's Central Bank Holds Firm on Interest Rates While Europe Eases

While central banks across Europe are beginning to ease their aggressive monetary policies to combat inflation, Norway's central bank, Norges Bank, has opted to keep rates high, according to a note published by Morningstar yesterday. High Inflation and Strong Economy Prevent Cuts Norges Bank is expected to maintain

ECB Policymaker Backs Rate Cut as Euro Zone Economy Faces Tipping Point, Reuters Reports

The European Central Bank has a "clear-cut" case for cutting interest rates at its next meeting on October 17, according to a statement from ECB policymaker Martins Kazaks, as reported by Reuters. Kazaks, Latvia's central bank governor, believes the euro zone economy may be nearing a