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Europe Economy

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

German Economy Shows Signs of Recovery, But Consumer Confidence Remains Low

Germany's economic outlook has improved slightly since the last quarter, but challenges remain, according to a new report by Moody's Analytics. While the country's real GDP expanded by 0.2% in the first quarter, driven largely by favorable weather conditions in the construction sector,

Eurozone Inflation Set to Slow Further, ECB's Lane Suggets Potential Rate Cuts

Eurozone inflation is expected to continue its downward trajectory, with the European Central Bank (ECB) potentially easing its restrictive monetary policy stance in the coming months, according to a speech delivered by ECB Executive Board Member Philip R. Lane earlier this week. Lane highlighted a number of factors supporting this