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Economy

Netherlands: Inflation rate slows but remains higher than most

Despite a steep drop in fuel prices, annual inflation in the Netherlands was still 3.5% in September, one of the highest in the eurozone.

Economy

Eurozone inflation drops in September, falling below ECB's target

The drop below the target of 2% was mainly due to falling energy prices. However, the European economy may still not be out of the woods.

Economy

German inflation plunges to over three-year low as energy prices wane

German inflation fell for the second month in a row in September, as energy prices pulled back. However, food prices rose at a faster pace.

Lifestyle

Europe’s oldest nightclub La Paloma in Barcelona re-opens

While many venues across Europe are facing closure due to inflation rates, rising rent costs, soaring energy prices and a shift in post-pandemic habits, a bit of good news comes from Spain as La Paloma, which opened in 1903 and shut in 2007, is reopening its doors...

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Economy

French and Spanish inflation dips below 2% fuelling rate cut hopes

Lower-than-expected inflation is fuelling bets for the ECB to keep cutting the benchmark interest rate in October.

Economy

Czech central bank cuts rates with more reductions expected

The move is in line with dovish signals from other central banks, notably rate cuts from the Fed and the ECB.

Economy

OECD: Belgium needs to cut public spending to reduce debt and deficit

The debt keeps swelling and if no action is taken, the OECD warns, it could reach 200% of the GDP by 2050.

Economy

Sweden's Riksbank cuts interest rates and signals further easing ahead

Borrowing costs in Sweden are being lowered faster than previously predicted as inflation falls below target.

Economy

Hungary cuts key interest rate, buoyed by US Fed Reserve decision

Policymakers have reduced borrowing costs after a pause in August, although the base rate in Hungary is still the joint highest figure in the EU.

Business

ECB's Lagarde predicts inflation to hit 2% target next year

ECB President Christine Lagarde praised the "remarkable" unwinding of inflation with minimal job losses, projecting inflation to hit target by 2025. However, she warned that significant uncertainties remain.

Economy

Norway holds its benchmark interest rate at 16-year high of 4.5%

Why is one of Europe’s best-performing economies not following in the ECB’s footsteps?

Economy

US Federal Reserve cuts benchmark interest rate by half-point

The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers.

Economy

Eurozone inflation figures see drop in August, towards ECB 2% target

Services were the main reason for the boost but growth in inflation was at the slowest rate in three years and inching towards the ECB's target of 2%.

Culture news

Iconic Berlin music institution to permanently close after 22 years

The iconic Berlin club Watergate will shut its doors at the end of 2024, with the team citing “enormous financial pressure” as one of the reasons behind the closure.

Economy

US Federal Reserve set to cut interest rates for first time in 4 years

The US Federal Reserve is set to cut interest rates for the first time in 4 years later today.

Economy

Russia's central bank hikes interest rates in a bid to fight inflation

Russia's central bank raised its interest rate by a full percentage point on Friday as government military spending in its invasion of Ukraine strains the economy.

Economy

Will the ECB cut interest rates again in October? Analysts weigh in

Analysts are divided on whether the ECB will cut rates again in October, with some expecting a pause until December. Key factors include wage pressures, inflation data, and oil prices. Most agree on gradual easing, with more cuts likely into 2025.

Markets

Weekly recap: European Central Bank rate cut sparks market rally

Global stock markets were mostly positive this week, buoyed by optimism over central banks' rate cuts. The ECB’s second rate reduction of the year fuelled a market rally across Europe.

Economy

ECB's Lagarde reaffirms data-driven approach to future rate decisions

ECB President Christine Lagarde reaffirms a data-driven approach to rate decisions while urging structural reforms, citing Mario Draghi's competitiveness report. The ECB lowered its deposit rate by 25 basis points, with inflation and growth forecasts largely unchanged.

Economy

Spanish inflation drops to over one-year lows on cooling food prices

Productivity, however, continues to be weak, compared with the average across the EU, with the issue having worsened over the past 10 years or so.