Norway central bank raises key rate to fight inflation
2 years ago

Norway central bank raises key rate to fight inflation

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank Thursday raised its key interest rate by a quarter-percentage point, saying the move was “still needed to dampen inflation.” Norges Bank said inflation — which reached 6.5% in November — has “risen rapidly” and “is markedly above target.” The hike, which brought its key policy rate to 2.75%, was a slower pace than the U.S. Federal Reserve took Wednesday. Central banks worldwide are making borrowing more expensive to tackle inflation that surged as the global economy bounced back from the COVID-19 pandemic and then was hit by the fallout from Russia’s war in Ukraine. In Norway, which is not part of the European Union, the bank noted that although the economy is faring well, it is still slowing and higher inflation is reducing people’s purchasing power. “The forecasts for the Norwegian economy are more uncertain than normal, but if the economy evolves as anticipated, the policy rate will be around 3% next year,” bank Governor Ida Wolden Bache said in a statement.

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History of this topic

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade
1 month, 2 weeks ago

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade

Associated Press  

STOCKHOLM — Sweden’s central bank on Thursday cut its key interest rate by half a percentage point to 2.75% in what was described as the largest reduction over a decade. Riksbanken said the cut, the fourth this year, was “to provide further support to the economy and help inflation stabilize at the target.” It added that “if the outlook for …

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade
1 month, 2 weeks ago

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade

The Independent  

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Inflation in Europe falls below 2% and opens the way for faster rate cuts
2 months, 3 weeks ago

Inflation in Europe falls below 2% and opens the way for faster rate cuts

The Independent  

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Inflation ticks up in Europe, complicating the European Central Bank’s next move
4 months, 3 weeks ago

Inflation ticks up in Europe, complicating the European Central Bank’s next move

Associated Press  

FRANKFURT, Germany — Inflation in the 20 countries that use the euro ticked up to 2.6% in July, stubbornly above the European Central Bank’s target and complicating the ECB’s next decision on whether to cut interest rates and boost growth as the economy struggles to stage a convincing recovery after a long stretch of stagnation. Services inflation, a figure closely …

Inflation ticks up in Europe, complicating the European Central Bank's next move
4 months, 3 weeks ago

Inflation ticks up in Europe, complicating the European Central Bank's next move

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation in the 20 countries …

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control
5 months ago

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control

Associated Press  

FRANKFURT, Germany — The European Central Bank left its key interest rate benchmark unchanged Thursday as its rate-setting council and President Christine Lagarde take their time to make sure stubborn inflation is firmly under control before lowering rates again. She added that “obviously, given the size of the US financial markets in particular, the developments taking place in the United …

Inflation ticked up in Europe in May. That likely won’t stop a central bank rate cut next week
6 months, 3 weeks ago

Inflation ticked up in Europe in May. That likely won’t stop a central bank rate cut next week

Associated Press  

FRANKFURT, Germany — Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday. It’s unlikely to stop the European Central Bank from making a first interest rate cut next week — and moving ahead of the U.S. Federal Reserve in lowering borrowing costs for businesses and consumers. Still, the higher inflation number makes …

Europe’s economy has stalled. But an interest rate cut will likely have to wait for summer
9 months, 2 weeks ago

Europe’s economy has stalled. But an interest rate cut will likely have to wait for summer

Associated Press  

FRANKFURT, Germany — Inflation in Europe is way down from its painful double-digit peak, and the economy has stalled. But the European Central Bank left its key interest rate at a record high Thursday, and its leader suggested a much-anticipated cut to borrowing costs would likely wait until June. The decision comes as central banks around the world, including the …

Financial markets are jonesing for interest rate cuts. Not so fast, says the European Central Bank
11 months ago

Financial markets are jonesing for interest rate cuts. Not so fast, says the European Central Bank

Associated Press  

FRANKFURT, Germany — European Central Bank President Christine Lagarde pushed back Thursday against market expectations for quick interest rate cuts even as Europe’s economy sputters and financial markets froth in hopes of cheaper credit that would boost business activity and stock prices. was that it was premature to discuss rate cuts.” Financial markets have been expecting a cut as early …

Cutting interest rates too soon in Europe risks progress against inflation, central bank chief says
11 months, 1 week ago

Cutting interest rates too soon in Europe risks progress against inflation, central bank chief says

Associated Press  

FRANKFURT, Germany — Cutting interest rates too soon could threaten Europe’s progress in battling the inflation that has ravaged the economy, the head of the European Central Bank said Wednesday amid widespread speculation that the bank soon will lower rates from record highs. Christine Lagarde, faced with market expectations for rate cuts as soon as March or April and a …

Sweden’s central bank hikes key interest rate, saying inflation is still too high
1 year, 3 months ago

Sweden’s central bank hikes key interest rate, saying inflation is still too high

Associated Press  

STOCKHOLM — Sweden’s central bank raised its key interest rate Thursday, saying that “inflationary pressures in the Swedish economy are still too high,” although there were signs that inflation had begun to fall. But the bank added that “inflation pressures are still too high,” noting that service prices are still rising rapidly and Sweden’s currency, the krona, is “unjustifiably weak.” …

Europe’s central bank hikes key interest rate to record high even as recession threat grows
1 year, 3 months ago

Europe’s central bank hikes key interest rate to record high even as recession threat grows

Associated Press  

FRANKFURT, Germany — The European Central Bank hiked its key interest rate to a record high Thursday, pressing its fight against stubbornly high inflation that has been plaguing consumers — even as worries grow that higher borrowing costs could help push the economy into recession. The increase of a quarter-percentage point comes as central banks around the world, including the …

European Central Bank hikes interest rates to combat inflation and leaves door open to more
1 year, 4 months ago

European Central Bank hikes interest rates to combat inflation and leaves door open to more

Associated Press  

FRANKFURT, Germany — The European Central Bank raised interest rates for the ninth straight time Thursday in its yearlong campaign to stamp out painfully high inflation and kept the door open to further hikes despite increasing fears of recession. ECB President Christine Lagarde had all but promised the quarter-percentage point increase and said the bank’s next moves would be determined …

European Central Bank raises interest rates to 22-year high
1 year, 4 months ago

European Central Bank raises interest rates to 22-year high

The Telegraph  

Eurozone interest rates have climbed to the highest level for 22 years as the European Central Bank indicated it is preparing to take borrowing rates to a record high in the coming months. The European Central Bank took its headline deposit rate to 3.75pc, matching the record high last seen in 2001, as President Christine Lagarde said she was willing …

Europe inflation slips to 5.5% — but that won't stop central bank rate hikes
1 year, 5 months ago

Europe inflation slips to 5.5% — but that won't stop central bank rate hikes

The Hindu  

Inflation in Europe slid again in June but fell too slowly to offer much relief to shoppers grumbling over price tags or to stop more interest rate hikes that will raise the cost of borrowing across the economy. While that is a big drop from the peak of 10.6% in October, persistently high prices in the U.S., Europe and the …

Europe’s interest rates to stay high as long as needed to defeat inflation, central bank chief says
1 year, 5 months ago

Europe’s interest rates to stay high as long as needed to defeat inflation, central bank chief says

Associated Press  

FRANKFURT, Germany — European Central Bank President Christine Lagarde warned Tuesday that inflation is holding its grip on the economy and underlined that the bank intends to raise rates high enough to “break this persistence.” Lagarde acknowledged that inflation has fallen from all-time highs last year as energy prices plunged and the bank rolled out a rapid series of rate …

Norway raises key interest rate to fight inflation and expects further hikes ahead
1 year, 6 months ago

Norway raises key interest rate to fight inflation and expects further hikes ahead

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank said Thursday that it has raised its key interest rate by half a percentage point in an effort to “bring inflation down to target.” Norges Bank said higher wage growth and a weaker-than-projected krone will raise inflation and that “international interest rates have risen more than anticipated.” The Scandinavian country, which is not part …

European Central Bank chief signals more rate hikes ahead with inflation still ‘strong’
1 year, 6 months ago

European Central Bank chief signals more rate hikes ahead with inflation still ‘strong’

Associated Press  

FRANKFURT, Germany — European Central Bank head Christine Lagarde said Monday that price pressures are “strong” and made clear that the bank will raise interest rates high enough to bring down inflation and keep them there “for as long as necessary.” Lagarde’s remarks reinforced her earlier statements indicating the ECB was not done raising rates even after inflation fell by …

European Central Bank hikes rates by a quarter-percentage point
1 year, 7 months ago

European Central Bank hikes rates by a quarter-percentage point

CNN  

London CNN — The European Central Bank raised interest rates by a quarter of a percentage point Thursday, the smallest increase since it started hiking in July, after data this week showed core inflation cooling and banks pulling back sharply on lending. “We have more ground to cover and we are not pausing,” she told reporters later on Thursday, adding …

Europe’s inflation inches up ahead of interest rate decision
1 year, 7 months ago

Europe’s inflation inches up ahead of interest rate decision

Associated Press  

FRANKFURT, Germany — Europe’s painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase. Food price inflation eased a little, falling to an annual rate of 13.6% from March’s 15.5%, while energy prices rose a more modest 2.5%. A smaller hike would …

Inflation inches up in Europe ahead of interes rate decision
1 year, 7 months ago

Inflation inches up in Europe ahead of interes rate decision

The Independent  

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Europe inflation eases slightly but consumer pain persists
1 year, 9 months ago

Europe inflation eases slightly but consumer pain persists

Associated Press  

FRANKFURT, Germany — Inflation eased only slightly in the 20 countries that use the euro currency as the pain from higher costs for food and fuel persists and gives the European Central Bank no reason to slow interest rate increases aimed at getting prices back under control. Higher prices for natural gas, used to heat homes, run industrial processes and …

European Central Bank hikes rates, vows ‘we are not done’
1 year, 10 months ago

European Central Bank hikes rates, vows ‘we are not done’

Associated Press  

FRANKFURT, Germany — The European Central Bank chugged ahead with another outsized interest rate hike Thursday and vowed more will follow, underlining its drive to subdue inflation even as the economy slows and the U.S. Federal Reserve eases its pace of increases. The bank, which also hiked by a half-point in December, “will stay the course in raising interest rates …

European inflation eases for 3rd month but prices still bite
1 year, 10 months ago

European inflation eases for 3rd month but prices still bite

Associated Press  

LONDON — Europe’s inflation rate dipped at the start of the year, giving some relief to consumers but still leaving them facing higher prices that have driven protests and will likely press the European Central Bank into another interest rate hike Thursday. Russia’s war in Ukraine has shaken up food and energy markets, and while commodity prices have fallen from …

European Central Bank slows rate hikes but vows more ahead
2 years ago

European Central Bank slows rate hikes but vows more ahead

Associated Press  

FRANKFURT, Germany — The European Central Bank slowed its record pace of interest rate increases slightly Thursday but promised that more hikes are on the way, joining the U.S. Federal Reserve and other central banks in reinforcing an inflation crackdown despite some recent headway against the high prices that are plaguing consumers. The ECB, Bank of England and Swiss National …

Bank of England hikes interest rates again but softens pace
2 years ago

Bank of England hikes interest rates again but softens pace

Associated Press  

LONDON — Britain’s central bank on Thursday raised its key interest rate again but toned down the pace as inflation shows signs of easing, mirroring action by the U.S. Federal Reserve and European policymakers. Should that scenario play out, further rate increases may be needed to get inflation back to its 2% target, the bank said, adding that it “will …

Swiss National Bank hikes key interest rate in line with Fed
2 years ago

Swiss National Bank hikes key interest rate in line with Fed

Associated Press  

GENEVA — The Swiss National Bank raised its key interest rate Thursday, as other central banks in Europe are starting to follow the playbook of the U.S. Federal Reserve in a bid to tame inflation. The bank says it can’t rule out further steps to make borrowing more expensive, pointing to slowing global economic growth and a world “subject to …

European Central Bank expected to slow pace of rate hikes
2 years ago

European Central Bank expected to slow pace of rate hikes

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The European Central Bank is …

Sweden’s big interest rate hike follows other central banks
2 years, 1 month ago

Sweden’s big interest rate hike follows other central banks

Associated Press  

STOCKHOLM — Sweden’s central bank followed other central banks in undertaking a big increase to its key interest rate to combat inflation, saying Thursday that high prices are undermining people’s purchasing power and making it tough for households and companies to plan their finances. Riksbanken said the hike of three-quarters of a percentage point pushes the key rate to 2.5% …

European Central Bank leader doubles down on rate increases
2 years, 1 month ago

European Central Bank leader doubles down on rate increases

Associated Press  

FRANKFURT, Germany — The head of the European Central Bank underlined the bank’s determination to fight rampant inflation with more interest rate increases on top of record hikes, saying Friday that “our job is far from being completed” and that even a mild recession would not be enough to bring rising prices back under control. ECB President Christine Lagarde said …

Bank of England raises rates but avoids bolder hike like Fed
2 years, 3 months ago

Bank of England raises rates but avoids bolder hike like Fed

Associated Press  

LONDON — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks. The decision “suggests the Bank of England is concerned about the UK’s economic …

Central banks worldwide tighten policies to cool inflation
2 years, 3 months ago

Central banks worldwide tighten policies to cool inflation

Associated Press  

The U.S. Federal Reserve has been the most aggressive in using interest rate hikes to cool inflation that is battering both households and businesses this year. Following are actions taken Thursday, and also earlier this week, by central banks globally: Turkey: The Central Bank of the Republic of Turkey lowered the benchmark rate by 1 percentage point, to 12%. United …

Bank of England hikes interest rates but avoids more aggressive step
2 years, 3 months ago

Bank of England hikes interest rates but avoids more aggressive step

The Hindu  

Britain’s central bank raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but it avoided more aggressive steps to tame inflation that the U.S. Federal Reserve and other banks have taken. The U.K. decision comes during a busy week for central bank action marked by much more aggressive moves to bring down …

Swiss central bank enacts biggest-ever hike to key rate
2 years, 3 months ago

Swiss central bank enacts biggest-ever hike to key rate

Associated Press  

GENEVA — Switzerland’s central bank carried out the biggest hike ever to its key interest rate Thursday, following the U.S. Federal Reserve and other central banks around the world in aggressive moves to clamp down on inflation. The Swiss rate increased from minus 0.25% to 0.5%, ending several years of negative interest rates — a testament to the stable growth, …

Norway central bank raises key rate to fight inflation
2 years, 3 months ago

Norway central bank raises key rate to fight inflation

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank on Thursday raised its key policy interest rate by a quarter-percentage point to 2.25%, as other banks around the world also move to bring down inflation. Norges Bank said inflation — which reached 6.5% in August — “has risen rapidly over the past months and has been far higher than projected.” “Inflation is markedly …

Sweden’s central bank hikes key interest rate by full point
2 years, 3 months ago

Sweden’s central bank hikes key interest rate by full point

Associated Press  

COPENHAGEN, Denmark — Sweden’s central bank on Tuesday raised its key interest rate by a full percentage point to combat the highest inflation in more than 30 years, the first of a series of large hikes expected from central banks worldwide this week. Riksbanken said inflation has risen rapidly — to 9% in August, the highest level since 1991 — …

European Central Bank makes largest-ever interest rate hike
2 years, 3 months ago

European Central Bank makes largest-ever interest rate hike

Associated Press  

FRANKFURT, Germany — The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out the inflation that is squeezing consumers and pushing Europe toward recession. Bank President Christine Lagarde said the ECB would keep hiking rates “over the next …

Dutch inflation jumps to 13.6%; To remain high for a while: DNB president
2 years, 3 months ago

Dutch inflation jumps to 13.6%; To remain high for a while: DNB president

NL Times  

Daily life in the Netherlands was 13.6 percent more expensive in August than the same month last year, Statistics Netherlands reported. “But even if this slowdown does come, it alone won’t be enough to get inflation toward our medium-term target.” At the same time, Knot Because of all these issues, Knot, who is known as a hawk within the European …

Europe’s central bank backs larger-than-expected rate hike
2 years, 5 months ago

Europe’s central bank backs larger-than-expected rate hike

Associated Press  

FRANKFURT, Germany — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation. She said the bigger hike was unanimous as “inflation continues to be undesirably high and is expected to remain …

Czech central bank raises key rate again to tackle inflation
2 years, 6 months ago

Czech central bank raises key rate again to tackle inflation

Associated Press  

PRAGUE — The Czech Republic’s central bank once again raised its key interest rate significantly Wednesday as it tried to combat soaring inflation. “Restoring price stability soon is now the Czech National Bank’s absolute priority and is a necessary condition for the long-term prosperity of the Czech economy,” Rusnok said Wednesday. The announcement of Michl’s appointment by Czech President Milos …

Europe's Central Bank to hike interest rates in July amid soaring inflation
2 years, 6 months ago

Europe's Central Bank to hike interest rates in July amid soaring inflation

The Hindu  

The European Central Bank said Thursday that it would carry out its first interest rate increase in 11 years next month, followed by another hike in September, as it catches up with other central banks worldwide in pivoting from supporting the economy during the pandemic to squelching soaring inflation. The surprise announcement came after the bank's 25-member monetary policy council …

European Central Bank chief signals possible July rate hike
2 years, 7 months ago

European Central Bank chief signals possible July rate hike

Associated Press  

FRANKFURT, Germany — The president of the European Central Bank on Monday gave the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation. In a blog post on the Frankfurt, Germany-based bank’s website, President Christine Lagarde said she expects asset purchases that buoy the economy would end “very early in …

Sweden’s central bank raises interest rate to hit inflation
2 years, 7 months ago

Sweden’s central bank raises interest rate to hit inflation

Associated Press  

STOCKHOLM — Sweden’s central bank on Thursday raised a key interest rate from zero to 0.25%, citing the highest inflation level since the 1990s. “Since the turn of the year, inflation excluding energy has also risen rapidly and has been significantly higher than the Riksbank’s forecast in February,” the central bank said in a statement. “The outcomes indicate that the …

European Central Bank gives no clear date for rate hikes
2 years, 8 months ago

European Central Bank gives no clear date for rate hikes

Associated Press  

The head of the European Central Bank reiterated Thursday that the bank would raise interest rates “some time after” ending its pandemic stimulus efforts later this year, sticking to a gradual path even as the United States, United Kingdom and other countries take a harder line to combat soaring consumer prices. Bank President Christine Lagarde, who previously opened the door …

Czech central bank again increases key interest rate
2 years, 10 months ago

Czech central bank again increases key interest rate

Associated Press  

PRAGUE — The Czech Republic’s central bank raised its key interest rate again in an effort to tackle soaring inflation, echoing an increase that the Bank of England also took Thursday. The bank’s decision comes after the Statistics Office estimated that the country’s economy grew by 3.3% last year, more than expected, after contracting by 5.8% the previous year due …

Inflation in 19 countries using the euro hits another record
2 years, 10 months ago

Inflation in 19 countries using the euro hits another record

Associated Press  

FRANKFURT, Germany — Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row, extending pain for consumers and sharpening questions about future moves by the European Central Bank. The 19 countries that use the euro currency saw consumer prices increase by an annual 5.1% in January, the European Union statistics …

UK raises interest rates as central banks focus on inflation
3 years ago

UK raises interest rates as central banks focus on inflation

Associated Press  

LONDON — The United Kingdom’s central bank on Thursday became the first in a major advanced economy to raise interest rates since the coronavirus pandemic began, as banks controlling monetary policy around the globe shift their focus from stimulating the economy to combating soaring consumer prices that arrived during the recovery. European Central Bank President Christine Lagarde also acknowledged what …

Norway’s central bank raises key policy interest rate
3 years ago

Norway’s central bank raises key policy interest rate

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank announced Thursday that it raised its key policy interest rate from 0.25% to 0.5%, citing the upswing in the economy that it said was likely to continue. But if economic developments evolve broadly in line with the projections, the policy rate will most likely be raised in March,” Norges Bank Governor Oeystein Olsen said …

Bank of England hikes interest rates to combat surging inflation
3 years ago

Bank of England hikes interest rates to combat surging inflation

CNN  

London CNN Business — The Bank of England is hiking interest rates in an effort to fight surging prices even as the Omicron variant engulfs the United Kingdom and threatens to put the economy into reverse. The central bank’s Monetary Policy Committee said Thursday that it would raise interest rates from the record low of 0.1%to 0.25%,the first such move …

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