Interest rates

BoE governor hits back at Liz Truss’ ‘deep state’ claims

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Andrew Bailey said the Bank of England’s only agenda is “trying to run an institution to its maximum effectiveness.”

Putin’s war economy faces pain if Saudis sink global oil prices

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A Saudi move to grab market share will squeeze the Kremlin’s finances, experts argue.

Stock markets hit record highs after news of a fall in US inflation

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S&P 500 index of major US companies registers near 100% gain on year ago amid expectation of interest rate cutsA fall in US inflation expected to pave the way for further cuts in interest rates pushed stock markets to record highs on Friday.Ending…

Cooling inflation opens door to October interest rate cut from ECB

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Attention of policymakers is shifting from inflation to growth as unemployment starts to rear its head.

Walz, Buttigieg step up debate prep in Minneapolis

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Tim Walz faces off against JD Vance in the vice presidential debate Oct. 1 in New York.

PMI data: eurozone business activity drops sharpy, technical recession ‘baked in’ for Germany

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* Euro zone business activity weaker than expected * German economy likely in recession, survey shows * Euro falls sharply on bets of further interest rate cuts (Adds bullet points, euro reaction in paragraph 3, bond market reaction in 10, details from…

Portuguese bank chief: ECB may need to accelerate interest rate cuts

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ECB President Christine Lagarde had hinted last week that there would be no further action until December.

UK inflation unchanged in August, cooling rate cut hopes

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A sharp rise in airfares and the strength of the housing market kept inflation at 2.2 percent.

Trudeau digs in as his party ponders his ability to win

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Whatever the prime minister is selling after almost nine years in power, Canadians are no longer buying.

Panic on the canals: How a battle over wages in Venice highlights the complex reality overlooked by policymakers

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An escalating standoff between workers and employers in Venice over an expired contract has exposed the volatile reality behind the data that informs Europe’s economic decision-making.

Lagarde: Draghi report ‘formidable’ but ECB won’t change policy to boost EU competitiveness

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European Central Bank (ECB) President Christine Lagarde praised Mario Draghi’s “formidable” report on Thursday (12 September) but said that the responsibility for boosting Europe’s lagging competitiveness ultimately lies with EU governments rather than…

You’re on your own implementing Draghi report, Lagarde tells governments

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“Structural reforms are not the responsibility of the central bank — they are the responsibility of governments,” European Central Bank president says.

Economic growth in eurozone will be weaker than hoped, says ECB

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European Central Bank lowers forecast for GDP growth, as it cuts interest rates for the second time this yearThe European Central Bank has warned that economic growth in the eurozone will be weaker than it had hoped, as it lowered interest rates for th…

ECB cuts interest rates again as inflation cools

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The central bank has trimmed its growth forecasts owing mainly to weak domestic demand.

ECB to cut interest rates, but keep cautious stance amid uncertainty

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Inflation likely won’t return to target until late next year, a new set of economic forecasts is expected to confirm Thursday.

‘Nobody in Politics Is Able to Say It’: The Truth About Latino Voters

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A top political strategist explains how the Latino vote is shifting.

Interest rates are falling, but Europe’s big debtor countries still won’t get much relief

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Long-dated debt and slow growth means that overall borrowing costs will stay high and debt burdens heavy.

ECB mulls second interest rate cut as eurozone inflation falls to 2.2%

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Drop to lowest level since 2021 may lead to cut in September though unemployment figures give cause for concernEurozone inflation fell this month to its lowest since June 2021, adding to the case for the European Central Bank (ECB) to cut interest rate…

Eurozone inflation falls to three-year low in August

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Eurozone inflation fell to its lowest level in more than three years this month thanks to falling energy costs, official data showed on Friday, raising expectations of a European Central Bank (ECB) interest-rate cut.

Analysts: ECB official’s Jackson Hole speech offers little guidance on future rate path

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A hotly anticipated speech by a top European Central Bank official at the Jackson Hole annual US central bankers’ summit in Wyoming on Saturday (24 August) failed to provide significant guidance on the European bank’s future rate path, analysts say.

US Federal Reserve chief says interest rate cuts are coming

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His speech marks a striking turning point after the U.S. economy was battered by the worst price spikes in four decades starting in early 2021.

Paris Olympics gives eurozone economic boost after rise in spending

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Despite strong figures, experts warn underlying picture masks a more disappointing performance elsewhereThe Paris Olympics has provided a boost to the eurozone economy after a sharp rise in spending as athletes and spectators descended on the French ca…

ECB’s high-stakes balancing act amid economic turmoil

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The European Central Bank (ECB) is a powerhouse in the EU, wielding influence over financial supervision, foreign exchange reserves, and economic forecasts. The ECB’s main goal is to keep inflation at 2% by adjusting interest rates. Its massive quantit…

Inflation is easing. Now, Harris has an even bigger problem with the economy.

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Fissures are forming in the economy just as the Fed’s long-running fight against inflation looks to be nearing its conclusion.

UK inflation rose in July but underlying picture improves

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The news comes a day after the ONS reported a further slowdown in wage growth, a key driver of service sector inflation.

UK wage growth slows to new 2-year low

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It adds to evidence of a cooling labor market in Britain and may make it easier for the Bank of England to continue cutting interest rates.

The 5 major questions facing Kamala Harris now

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The vice president has a number of pitfalls ahead.

The killjoy’s guide to how the financial turmoil might screw up your life

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What could possibly go wrong?

Trump says presidents have the right to influence Fed policy

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Trump’s comments mark the clearest signal yet on how he might try to blunt the central bank’s autonomy should he win a second term in November.

Why the stock market is plunging — and what it means politically

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The odds that the U.S. will fall into recession are still relatively low, particularly given that consumers continue to spend at a healthy clip. But the risks are mounting.

Global market rout may force central banks into early rate cuts

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Analysts question whether the U.S. Fed has left it too late to begin cutting rates to save the economy from falling into a recession

Priced out of housing, many younger disillusioned voters embrace populism

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The scarcity of affordable homes to buy or rent has raised enthusiasm for politicians campaigning against immigration — though other causes for the crunch abound.

Trump goes low as Harris gains ground

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In a succession of crude social media posts, Trump called Harris “low IQ,” “dumb” and lacking “mental capacity.”

Rising unemployment jolts Biden-Harris economic message

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The data suggests the job market is weakening more quickly as high interest rates bite into spending, raising questions about whether the U.S. might be entering a downturn.

Fear of US recession rattles global markets as tech shares fall

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Concerns over American economy spur sell-off, with Japanese equities suffering worst day since 2020Business live – latest updatesStock markets in Europe, Asia and New York have been rattled by fears of a US economic slump, as technology shares were hit…

The ECB is failing on its duty to support Europe’s economic and green transition goals

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Ursula von der Leyen is facing an unfortunate and unnecessary challenge to her plans to increase investment as part of her second term as European Commission President. The political guidelines for her second term set out to “turbo charge investment”, …

The UK’s first rate cut in three years is awkward for Labour

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The U.K.’s finance minister spent all week saying Britain’s economy is broken. Then the BoE cut interest rates.

European, German industrial fatigue endures, cannot be blamed on ‘energy anymore’

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Industrial activity in the eurozone continued to contract in July, a closely-watched business survey confirmed on Thursday (1 August), as Europe’s economic woes showed little sign of abating despite growth data slightly above analysts’ forecasts earlie…

Bank of England cuts key interest rate to 5 percent, saying inflation threat has eased

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First decrease since 2020 eases pressure on businesses a month after Keir Starmer became prime minister.

Democracy in dark times: Hopeful lessons from Greece’s 50-year odyssey

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The country’s half-century milestone cements that only democracy and international cooperation can provide solutions to 21st-century challenges.

BoE set for knife-edge decision on first rate cut

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Relief is in sight — but it’s still not a done deal.

Labour steals Tory playbook for financial blame game

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Labour, with an eye on the next election, wants voters to hear that the public finances are worse than they thought — so blame the Tories for higher taxes.

Hungary quietly takes €1B loan from Chinese banks

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With public debt at a record high, Budapest is increasingly looking to Beijing for cash.

France needs to cut over €100B so it doesn’t end up like Italy

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Economists say country still in “control of its own destiny” but government must act fast.

Ukraine strikes deal to delay debt repayments

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The deal gives Kyiv vital breathing space, and is set to be flanked by fresh tax increases and money generated by frozen Russian assets.

ECB leaves rates unchanged, keeps door open to September cut

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Spotlight on Lagarde’s press conference as uncertainty over French budget policy swirls.

To do: 6 thorny issues lurking in MEPs’ inboxes

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From creating an EU-wide money market to protecting kids online, POLITICO looks at what lies ahead for lawmakers.

Report: Trump wouldn’t fire Fed’s Powell if reelected

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The presumptive GOP nominee’s remarks suggest that he may not go further than he did in his first term.

UK inflation stays at 2 percent target in June

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But services are still making life difficult for the Bank of England.

Yvette Cooper to chair meeting of taskforce considering ‘alarming rise’ in candidate intimidation – UK politics live

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Home secretary to host meeting of government’s Defending Democracy taskforce after reported rise in harassment during election campaignMore in Common, the group that campaigns to reduce polarisation in politics, published a good slideshow presentation …

Survey reveals surge in burnout and suicidal thoughts among ECB staff

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Staff committee warns burnout situation could induce poor decision-making at one of Europe’s most powerful institutions.

Bank of England economist argues against cutting interest rates – business live

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Live coverage of business, economics and markets as Jonathan Haskel says UK ‘inflation will remain above target for quite some time’Rachel Reeves has pledged to “get Britain building again” after saying the government will introduce mandatory housing t…

The Strange Future After a Second Trump Term

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The dollar will decline, Europe will rise, and Asia will nuclearize.

Eurozone inflation eases but ECB likely to keep interest rates on hold

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Consumer prices slip to 2.5% but core rate stays high, prompting little belief in further cuts in borrowing costsBusiness live – latest updatesInflation across the eurozone slowed to 2.5% in June despite lingering pressure on households from price incr…

The dirty little secret no politician will admit: There is no way to ‘go for growth’

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Everything now is just a euphemism for financial repression and austerity. That doesn’t stop politicians looking for magical alternatives.

Justin Trudeau gets a wakeup call

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Stunning loss in special election amplifies questions about prime minister’s future.

Switzerland cuts key interest rate again as EU turmoil sends franc surging

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The euro’s weakening since the EU election has struck an uncomfortable chord at the Swiss National Bank.

Tories party at donor event amid poll wipeout

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Sky News’ deputy political editor Sam Coates and Politico’s Jack Blanchard with their guide to the election day ahead. This is day 29 of the campaign. Jack and Sam discuss all four main leaders facing an audience on primetime TV, who is missing from the Tories’ party donors event, Bank of England interest rates and […]

Recovery and interest rate cuts won’t be enough to win Sunak the election

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Across the EU and US, strong anti-incumbency sentiment shows voters in west are unhappy with direction of travelUK election live – latest updatesAs the weeks roll by, Rishi Sunak’s decision to call the election before he needed to appears ever more cur…

Macron’s high-risk election puts France’s economy on the line

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The rise of the far right is sending tremors through financial markets and could push French debt deeper into the danger zone.

Nigel Farage eyes debanking revenge with plan to hit bank profits

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Reform UK thinks they can raise up to £40 billion to fund tax cuts by treating banks’ QE reserves differently.

No, you’re a banker! Sunak and Reeves’ City backgrounds weaponized in UK election

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Both the prime minister and shadow chancellor were employed in the banking sector during the 2008 financial crash

The ECB has cut its key interest rate: so what?

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We all knew it was coming, but what does it mean in practice?

ECB starts cutting rates, but warns on inflation

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Frankfurt, Germany, June 6, 2024 (AFP) – The European Central Bank made its first interest rate cut since 2019 Thursday, reducing borrowing costs from record highs, but gave few clues about its next move while warning of continuing inflation pressures….

ECB cuts interest rates for first time since 2019

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But the central bank has revised up its forecasts for growth and inflation this year, casting doubt over the scope for easing policy any further.

European Central Bank cuts main interest rate by 0.25 points

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ECB reduces rate to 3.75% across eurozone, putting it ahead of US Federal Reserve and Bank of EnglandThe European Central Bank has eased the pressure on borrowers across the eurozone after cutting its main interest rate for the first time in almost fiv…

European Central Bank expected to cut interest rates for first time in five years

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A 25 percentage point cut to main lending rate is forecast amid growth in Germany, Italy and Spain The European Central Bank is expected to cut interest rates for the first time in almost five years at its meeting on Thursday after a survey of private …

ECB to deliver historic rate cut on Thursday

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Lagarde can count the first rate cut in the absence of a financial earthquake in two decades as a major win.

European and Canadian central banks expected to cut interest rates this week

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New lower rates of 3.75% and 4.75% respectively are likely to be introduced this week after drops in inflationBorrowers in the eurozone and in Canada are expected to get some relief from high interest rates this week.After recent drops in inflation, th…

Europe must splash the cash (and seize it) to save 2024

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There is still an expensive war to fight, and if EU and UK politicians insist on using taxpayer funds for it, there will be little left to spend on public servicesThere were hopes that 2024 would be a good year. Economists talked of a soft landing, by …

France hit by ratings downgrade despite spending-cuts crusade

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Finance Minister Bruno Le Maire said the downgrade was the price to pay for bolstering the economy with public support during the pandemic and the inflation crisis.

High prices, high rates will be new normal in post-COVID world, BNP economists warn

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Europe is facing a “generational shift” in its economic architecture that will cause inflation to be structurally higher than at any period since the early 1980s, two leading BNP Paribas economists told Euractiv, warning that high price pressures and h…

The pound is partying as Sunak’s election gambit dashes June rate cut hopes

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Sterling is at its highest level since Britain voted to leave the EU in 2016.

Advice to Britain’s Tories: Enjoy defeat as best you can

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As the UK Conservative Party faces an electoral wipe-out similar to the one it experienced in 1997, history offers some key lessons.

Once Britain is back in the EU, things can only get better | William Keegan

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Both major parties will try to conduct their campaigns without mentioning Brexit. But we cannot afford not to discuss it‘Things can only get better” was a Labour party slogan before the 1997 general election. The reason why Rishi Sunak has surprised th…

How Rishi Sunak bet the house on a snap summer election

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The British prime minister’s last roll of the dice.

Britain’s economy is improving. Don’t expect it to save Rishi Sunak.

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With inflation expected to drop, it’s not the economy any more, stupid, for Britain’s Conservatives.

Is the Bank of England really a secret political player?

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Presented by Llyods.

Bank of England leaves key interest rate at 5.25 percent

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Governor Andrew Bailey opens the door to a first rate cut in June, but warns it’s “not a fait accompli”.

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