Economy
Fed’s Powell warns tariffs may upset inflation-growth balance
Federal Reserve Chair Jerome Powell expressed concern over achieving the central bank’s dual mandate as tariffs are likely to drive inflation higher while weakening economic growth. His comments added further pressure on US stock markets and the US dollar on Wednesday.
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Economy
ECB set to cut interest rates as insurance against trade tariffs
ECB expected to cut rates by 25bp to 2.25%—its sixth straight reduction—as inflation cools and tariff risks rise. Economists see the move as insurance amid growth shocks and US-EU tensions weighing on sentiment and policy outlook.
Business
ASML misses order expectations as CEO warns of economic uncertainty
ASML reported net bookings that significantly missed analysts’ expectations in the first quarter, although it maintained its guidance for 2025. CEO Christophe Fouquet highlighted uncertainties around the macro environment and downside risks to the company’s performance this year.
Economy
China’s first-quarter economic growth beats estimates as tariffs loom
China’s economy grew by 5.4% in the first quarter, surpassing analysts’ expectations. Other key economic data has also topped estimates, suggesting the stimulus measures have been effective in bolstering the world’s second-largest economy. However, its economic outlook remains uncertain.
Business
Trump launches probe into critical minerals as trade war escalates
US President Donald Trump has launched an investigation into critical minerals, signalling further tariffs in the natural resources sector. The move follows Beijing’s announcement of export restrictions on rare earths, marking an escalation in the trade war between the world’s two largest economies.
Business
South Korea to boost chip industry support in face of Trump's tariffs
South Korea said on Tuesday it will expand its financial support package for its crucial semiconductor industry to 33 trillion won (about €22.43 million) as part of efforts to address uncertainties posed by the Trump administration’s tariff hikes.
