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Economy

ECB threatens fines on banks failing to integrate climate risk

The European Central Bank will impose financial penalties on banks that take too long to address climate change risks in their business, a senior official has said.

Economy

ECB: Eurozone inflation could rebound in next months

Inflation could pick up temporarily while eurozone economic growth will remain weak in the near term, said European Central Bank Vice President Luis de Guindos.

Economy

Europe's central bank halts rate hikes for first time in over a year

The European Central Bank left its rates unchanged on Thursday, marking a pause in its restrictive monetary policy after 10 increases since July 2022.

Markets

European markets lower ahead of key ECB rate decision

The market's cautious mood comes after a wave of quarterly earnings reports, as traders ponder the ECB's next monetary policy moves due on Thursday.

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Economy

Eurozone unemployment still at its lowest level in August, at 6.4%

Unemployment rates continue to decrease in countries that use the euro. For the European Union as a whole, the unemployment rate stood at 5.9% in August, the same as in May and June.

Economy

German inflation falls to its lowest level since start of Ukraine war

The inflation rate in Germany is expected to be 4.5% in September 2023.

Europe News

ECB interest rates to remain high for as long as needed - Lagarde

The President of the European Central Bank (ECB) Christine Lagarde signalled on Monday that borrowing costs may have reached their peak, but will remain high for as long as it takes to curb inflation.

Economy

Eurozone inflation revised down to 5.2% in August

Despite the decrease, inflation still remains far above the European Central Bank's 2% objective.

Economy

ECB hikes interest rates again, despite threat of recession

The decision raises the ECB’s benchmark deposit rate to 4%, up drastically from minus 0.5% just a little more than a year ago and the highest since the euro was established in 1999.

Economy

ECB criticises Italy's bank windfall tax plan

The widespread application of the tax would particularly harm "credit institutions that have lower solvency positions or are more focused on lending activity ... or have challenging capital projections," according to the ECB.

Economy

OECD urges EU to increase interest rates further

In its latest report, the Organisation for Economic Co-operation and Development says further reforms are needed to help the post-pandemic European economic recovery.

Economy

The ECB’s rate-hike dilemma as eurozone business activity falls

As eurozone businesses face sharp declines in outputs and new orders, experts believe the European Central Bank (ECB) faces a complex challenge as it decides whether to continue its cycle of interest rate hikes in September.

Business

European Central Bank hikes interest rates to highest level since 2000

Christine Lagarde warned that consumer prices are still rising too fast.

Economy

IMF supports imposition of restrictive economic measures in the EU

In an interview with Euronews, the IMF's Managing Director says that more stringent measures could become the norm given the current economic situation in Europe.

Europe News

European Central Bank celebrates its 25th anniversary

Hundreds were in attendance in Frankfurt to mark 25 years of the ECB. Today the euro is the world's second currency, used by almost 250 million Europeans in 20 countries.

Economy

European Central Bank raises interest rates by quarter-point

The European Central Bank has slowed the pace of its interest rate increases, stepping back like the US Federal Reserve from a string of jumbo hikes aimed at snuffing out inflation.

Economy

Explained: Why the EU economy may be heading for a ‘soft landing’

The economic situation in Europe is better than expected, an economist told Euronews.

Europe News

Slovakia's central bank chief fined for bribery and faces trial

Peter Kazimir, who is also on the European Central Bank's governing council, was declared guilty of bribery in Slovakia.

Economy

Explained: Why the EU's banking union is still unfinished business

The banking union was first pitched in 2012, at the height of the eurozone crisis, but the project remains incomplete to this day.

Germany

European stock markets close sharply lower on renewed bank fears

Shares in Germany’s largest lender, Deutsche Bank, fell sharply Friday as fears of a banking crisis developing grow.