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Economy

Bank of England holds rate at 3.75% amid Iran war inflation fears

The Bank of England has held its main interest rate at 3.75% in the wake of rising oil and gas prices following the start of the Iran war.

Markets

Markets on edge as ECB prepares to set interest rates

European markets have opened lower as investors await the European Central Bank’s rate decision, with a sharp rise in gas and oil prices fuelling fresh inflation concerns.

Economy

Fed projects one rate cut, sees limited Iran war impact

Federal Reserve officials say the war in Iran is likely to push up inflation this year, while having little impact on economic growth.

Economy

Iran raises minimum wage by 60% as war decimates household budgets

The Iranian regime has announced a 60% increase in the minimum wage as the country grapples with the ongoing war and record inflation.

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Economy

Why is chocolate so expensive — and where have prices risen most?

Chocolate prices rose 18% across the EU in 2025 — the highest increase of any food item — as drought in West Africa drove up cocoa costs. But the impact has varied widely across Europe.

Business

Portugal's food basket cost at all-time high but not due to Iran war

The basket of food products monitored by the Portuguese Association for Consumer Protection reached an all-time high this week. However, the increase cannot yet be justified by the Iran war.

Economy

How high could Europe's inflation go if the Iran war continues?

Economists estimate that rising oil and gas prices could significantly lift eurozone inflation. Markets have already begun pricing in the risk of a rate hike in 2026.

Europe News

EU eyes oil reserves as Iran war sends energy prices surging

Ministers are exploring measures to curb energy prices and inflation at a series of meetings in Brussels, with the release of oil reserves being discussed. Germany stated that it supports keeping the option on the table, but emphasised that now is not the right time to use it.

Economy

Iran war: How exposed are European economies?

The closure of the Strait of Hormuz has sent gas prices surging by 60%, putting additional strain on Europe's already-depleted winter inventories and prompting economists to revise their 2026 growth and inflation outlooks.

Economy

Spring statement: Iran war casts shadow over UK economic recovery

Chancellor Rachel Reeves sought to strike an upbeat note on Tuesday on the state of the UK economy, even as oil and gas prices surged in the wake of the fast-evolving war with Iran.

Economy

Iran attacks threaten US GDP growth and inflation prospects

The US and Israeli attacks on Iran have pushed up oil prices, adding fresh uncertainty to a US economy already facing stubborn inflation and weak hiring.

Economy

Eurozone inflation sees unexpected rise: Is the worst yet to come?

Eurozone inflation rose to 1.9% in February, above expectations, before Middle East tensions sent oil and gas prices sharply higher.

Health news

Declining fertility in Europe: Why Turkey is leading the drop

Turkey’s total fertility rate fell from 2.11 to 1.51 between 2013 and 2023. Beyond long-term structural and cultural changes, experts point to economic instability and institutional constraints as key factors behind the recent sharp decline.

Economy

Four years since Russia’s invasion: How have energy prices changed?

Residential electricity and gas prices in the EU remain above the levels seen before Russia’s invasion of Ukraine. Compared to the highly volatile years of the energy crisis, prices have largely stabilised as of 2026.

Business

Cooling UK inflation fuels expectations of March interest rate cut

Lower food and gas prices push inflation down to 3%, increasing expectations of a Bank of England rate cut in March.

Economy

Producers sound the alarm: Why are olive oil prices falling in the EU?

Experts say that production is now returning to more normal levels after a hit from heatwaves and droughts.

Economy

ECB rates unchanged, Lagarde: 'Inflation is in a good place'

The ECB kept rates unchanged as inflation fell to 1.7%. Christine Lagarde said policy is “in a good place”, downplaying the undershoot as temporary, while stressing data dependence, balanced risks and the need for EU reforms to support growth.

Economy

ECB holds rates as inflation cools and economy stays resilient

The ECB held rates as eurozone inflation fell to 1.7% in January, its lowest since September 2024 and below the ECB’s 2% target. Core inflation eased to 2.2% as energy prices plunged.

Economy

Food inflation: Which foods are getting pricier fastest across Europe?

Euronews Business takes a closer look at how food prices changed across Europe in 2025, revealing the products that saw the highest inflation.

Economy

Trump expected to nominate Kevin Warsh as Fed chair on Friday morning

Despite his former reputation as an inflation hawk, Warsh has shown support for lower rates in recent months, suggesting he is more likely to align with the president than Jerome Powell.