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Economy

Russian consumers in a tight spot as high inflation persists

Some Russian pensioners claim they would be unable to afford rent and food without the help of their children, due to soaring levels of inflation.

Economy

Turkey hikes interest rate to 40% - highest in 20 years

Turkey's central bank has implemented a sixth consecutive interest rate hike, reaching 40%, in a surprising shift to counter the country's staggering 61.36% inflation.

Economy

Manufacturing sector improves but UK economy not out of the woods yet

The latest set of economic data from the UK has come in strong for November indicating that there may be hope for the British economy after all.

Economy

UK retail sales at COVID-19 lockdown levels as cost of living rises

UK retail sales have slumped back to COVID-19 lockdown levels, as increased cost of living bites.

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Markets

Commerzbank profits more than tripled in Q3

German lender Commerzbank saw its net profit after tax triple compared to last year thanks to its strategic roadmap.

Business

HSBC announces $3 billion buyback despite missing profit expectations

Higher interest rates have boosted profits for Europe’s biggest bank, bringing their third-quarter pre-tax total to $7.7 billion ($6.26 billion after tax).

Economy

Russian central bank raises interest rate to 15%

High inflation and the weak rouble triggered a higher than expected raise.

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.

Economy

Argentina's central bank hikes key interest rate to 133%

Argentina's inflation was 138% in September compared to the previous year.

Economy

British economy creeps forward

The UK’s GDP grew slightly in August, driven by the services sector.

Markets

Record outflow as investors are pulling out of renewables

High-interest rates and inflation left the sector's share prices plummeting more than 30% in the past three months.

Economy

It's time to buy property in the UK, but there's a catch

With prices falling by more than 5% in the year to September, this could be the moment to invest in real estate.

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

Turkey pushes interest rates up to highest level since 2003

The central bank said that rocketing inflation was above expectations in the past couple of months and that to combat the trend, more interest rate hikes are likely.

Economy

US Federal Reserve stays the course on interest rates

The US Federal Reserve has announced that it will maintain its interest rates, as much of Europe raises theirs.

Economy

Sweden's central bank ramps up key interest rate over high inflation

The moves comes on a busy day of central bank action in Europe, with the UK, Norwegian and Swiss central banks announcing or expected to announce whether they will amend their interest rates.

Economy

Norway central bank pushes up interest rate, hinting at another hike in December

"Whether additional tightening will be needed depends on economic developments," said Norges Bank governor Ida Wolden Bache. "There will likely be one additional policy rate hike, most probably in December."

Economy

Central Bank of Denmark urges caution over economic future

Denmark's Nationalbank has called for economic caution with regard to future policy making, also predicting hovering inflation to come.

Economy

EU economy loses momentum amid war, inflation and natural disasters

The European Commission has revised down its economic forecast, warning that stubbornly high prices for goods and services are "taking a heavier toll than expected."

Economy

Poland slashes interest rates, causing zloty to slide against dollar

Poland's central bank governor said on Thursday that its large interest rate cut was justified despite high inflation because prices are stabilising.

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