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Economy

Erdoğan now backs plan that includes raising interest rates: minister

Inflation in Turkey is running at nearly 60%, according to official figures, although independent economists say the real rate is much higher.

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

Bank of England increases interest rates for 14th time in a row

The Bank of England raises interest rates for the fourteenth consecutive time as it warns that the cost of borrowing will remain high.

World News

US Fed hikes interest rates to 22-year-high

The latest quarter-percentage-point rise, which was in line with analysts' expectations, is the Fed's 11th since it began an aggressive campaign of monetary tightening last March in response to rising prices.

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Business

UK and Turkey both raise interest rates to control economy

Both the UK and Turkey have announced increases in the rate of borrowing in moves to stabilise the economy but sparking British fears of a recession

United Kingdom

Bank of England hikes interest rate again as high inflation persists

With UK mortgage holders and renters are especially exposed to effects of rate increases, fears of a 1990s-style housing crash are on the rise

World News

OECD sees limited improvement in global economic growth

The Paris-based Organisation for Economic Co-operation and Development's latest economic outlook sees limited improvement in global prospects but says rate hikes will weigh on growth.

Money

Why is inflation higher in the UK than in the EU?

As the Bank of England hikes interest rates to keep prices in check, the UK's inflation rate remains worse than the EU's. Here's why.

Money

JPMorgan to take over deposits of troubled First Republic Bank

After Silicon Valley Bank and Signature Bank, First Republic is the third midsize bank in the US to fail in just two months.

Economy

ECB raises interest rates by 0.5%

The ECB raises interest rates again by half a percentage point to try and control inflation in the eurozone.

Economy

Some relief for Eurozone consumers as inflation dips to 8.5%

Eurozone inflation dips to 8.5%, the third monthly fall in a row. Economists suggest the key indicator may prompt the European Central Bank to raise interest rates on Thursday.

World News

ECB raises Eurozone interest rates to 2.5%

The European Central Bank (ECB) has raised interest rates again, but by less than its two most recent hikes. The main rate has increased by 0.5 percentage points to 2.5%,

United Kingdom

Highest interest rates rise since 1989 despite 'looming recession'

UK finance minister Jeremy Hunt said Thursday's 0.75% hike by the Bank of England would be "very tough" for families with mortgages and businesses with loans.

Turkey

Annual inflation in Turkey reaches record 25-year high of 85.5%

Turkish President Recep Tayyip Erdogan believes that high-interest rates encourage inflation and lead to higher prices.

Money

Inflation in Turkey tops 83% as Erdogan vows more rate cuts

While most Western countries are in the process of raising interest rates to keep inflation in check, Turkey is doing the exact opposite.

Europe News

ECB announces largest interest rate hike in bid to fight inflation

The ECB's three key interest rates were each raised by 75 basis points.

Money

Inflation: What are governments doing to ease the financial pain?

As record inflation bleeds the pockets of people dry with rising living costs, can your government do anything to help? This is what some are doing.

United Kingdom

Big interest rate hike in UK as Bank of England predicts recession

The country's central bank also announced the biggest interest rate hike in over 27 years in an attempt to curb the economic fallout caused by the war in Ukraine.

Money

Why Bitcoin and other cryptos are bracing for a tough week ahead

Cryptos have borne the brunt of a massive ripple effect since the Terra saga but decisions in the US could put even more pressure on digital assets.

Economy

ECB announces larger-than-expected interest rate hike

The European Central Bank has raised interest rates for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the US Federal Reserve and other major central banks to target stubbornly high inflation.

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