Euro hits 20-year low against US dollar over recession fears
2 years, 5 months ago

Euro hits 20-year low against US dollar over recession fears

Al Jazeera  

Growing fears of a recession in the eurozone push the euro to its lowest level against the US dollar since 2002. The European Union’s single currency has sunk to its lowest level against the US dollar since 2002 as data pointed to a growing recession risk in the eurozone. Just before 09:00 GMT, the shared eurozone unit tumbled to $1.0306, threatening a push towards US dollar parity for the first time since the euro’s creation in 1999. “Growing fears of a recession are hammering the euro lower, whilst the dollar is soaring on bets that the Fed will keep hiking rates aggressively to tame inflation,” City Index analyst Fiona Cincotta told the AFP news agency.

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History of this topic

Dollar rebounds from inflation data drop, euro dips
1 day, 13 hours ago

Dollar rebounds from inflation data drop, euro dips

Live Mint  

By Chuck Mikolajczak NEW YORK -The dollar rebounded while the euro dipped on Monday, as market moves were being dictated by recent global central bank meetings that set expectations for diverging rate cut paths next year. "The key for the dollar right now is the policy divergence, and Powell going from more worried about unemployment than inflation, and then the …

Europe’s Rates Head Lower in Readiness for Another Trump Era
1 week, 4 days ago

Europe’s Rates Head Lower in Readiness for Another Trump Era

Live Mint  

Europe’s central banks are taking a determined dovish turn to aid economies bracing for more disruption from Donald Trump’s second stint in the White House. The European Central Bank’s own quarter-point move — bringing its rate to a 1 1/2-year low — was accompanied by President Christine Lagarde’s observation that “the direction of travel currently is very clear.” There’ll probably …

Euro rebounds as French bonds stabilize; bitcoin jumps past $100,000
2 weeks, 5 days ago

Euro rebounds as French bonds stabilize; bitcoin jumps past $100,000

Live Mint  

By Gertrude Chavez-Dreyfuss NEW YORK -The euro rallied on Thursday as French government bonds steadied a day after the collapse of France's government, even as bitcoin soared to a record past $100,000, with investors cheering the nomination of a pro-cryptocurrency head to run the U.S. Securities and Exchange Commission. "With a better U.S. regulatory environment and next-generation stablecoins driving adoption …

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates
3 weeks, 4 days ago

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates

Associated Press  

FRANKFURT, Germany — Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration adds to the gloom over weak growth. The European Union’s harmonized index of consumer prices stood up 2.3% …

It’s not just Trump: Economic malaise and political chaos are battering Europe’s currency too
3 weeks, 6 days ago

It’s not just Trump: Economic malaise and political chaos are battering Europe’s currency too

Politico  

The European Central Bank, meanwhile, reminded markets last week that the combination of low growth and high budget deficits could revive fears of national bankruptcies across the eurozone. ‘Parity is the next milestone’ The single currency fell as low as $1.033 against the dollar on Friday, after dismal economic data sparked expectations that the European Central Bank will have to …

Boost for the pound as fears of trade war hit euro: Sterling tops €1.21 for the first time since March 2022
1 month, 1 week ago

Boost for the pound as fears of trade war hit euro: Sterling tops €1.21 for the first time since March 2022

Daily Mail  

British holidaymakers will get more bang for their buck on the Continent this winter as the pound soars against the euro. In a boost for families planning skiing trips and other breaks in Europe, sterling topped €1.21 for the first time since March 2022. The euro also tumbled towards $1.06 against the dollar – its lowest level since April – …

Rate cut expected as eurozone inflation falls
3 months, 3 weeks ago

Rate cut expected as eurozone inflation falls

China Daily  

EU flags flutter in front of European Central Bank headquarters in Frankfurt, Germany on July 18. Bert Colijn, an economist at ING, told the Financial Times newspaper the fact that Eurostat, the European Union's official statistics agency, declared the eurozone's inflation rate to be within a whisker of the ECB's target of 2 percent means rate cuts will be likely …

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 …

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%
5 months ago

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%

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 Home buyers and businesses waiting …

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts
5 months, 3 weeks ago

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts

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-nation eurozone …

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts
5 months, 3 weeks ago

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts

Associated Press  

FRANKFURT, Germany — Inflation in the 20-nation eurozone crept lower to 2.5% in June, but remained stuck above the level favored by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate. The ECB’s caution in making sure inflation is under control comes as the U.S. Federal …

Europe Central Bank jumps ahead of the Fed in lowering rates. But future cuts may be limited
6 months, 2 weeks ago

Europe Central Bank jumps ahead of the Fed in lowering rates. But future cuts may be limited

Associated Press  

FRANKFURT, Germany — The European Central Bank cut its key interest rate Thursday by a quarter-point, moving ahead of the U.S. Federal Reserve as central banks around the world lean toward lowering borrowing costs — a shift with far-reaching consequences for home buyers, savers and investors. Speaking afterward at a news conference, ECB President Christine Lagarde said inflation had eased …

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 …

Recovering euro keeps dollar ‘gorilla’ from scuppering ECB rate outlook
7 months, 1 week ago

Recovering euro keeps dollar ‘gorilla’ from scuppering ECB rate outlook

The Hindu  

The euro has resisted falling to parity with the dollar for now, thanks to a rosier economic backdrop, to the relief of European Central Bank policymakers who could be struggling to detach themselves from the Federal Reserve’s monetary policy outlook. Just a month ago, the euro’s fall to five-month lows prompted talk among analysts about a return to parity against …

Europe’s economy shows signs of life with 0.3% growth in 1st quarter as inflation, energy woes ease
7 months, 3 weeks ago

Europe’s economy shows signs of life with 0.3% growth in 1st quarter as inflation, energy woes ease

Associated Press  

FRANKFURT, Germany — Europe’s economy perked up slightly at the start of the year, recording 0.3% growth in the January-March quarter compared to the last three months of 2023 as the inflation burden on consumers eased and the stagnating German economy, the continent’s biggest, started to show modest signs of life. The 20-country eurozone recorded its strongest performance since the …

Inflation has slid again in Europe. Here’s what that means for interest rates
8 months, 3 weeks ago

Inflation has slid again in Europe. Here’s what that means for interest rates

Associated Press  

FRANKFURT, Germany — The inflation that has squeezed European shoppers fell more than expected in March to 2.4%, as cost spikes in the grocery aisle eased and overall price rises headed down in the two biggest economies, Germany and France. But analysts say the decline from 2.6% in February, though welcome, would likely not be enough to move up the …

European inflation eases to 2.6% as energy prices fall and food inflation slows
9 months, 3 weeks ago

European inflation eases to 2.6% as energy prices fall and food inflation slows

Associated Press  

FRANKFURT, Germany — The inflation that has ravaged the European economy eased again in February, falling to 2.6% as high interest rates, moderating oil and gas prices, and sluggish growth held back price increases in stores. The figure, closely watched by the European Central Bank as a measure of underlying inflation pressure in the economy, came in at 3.1%, down …

Inflation in Europe edges down again. But will Houthi attacks on ships spoil the relief?
10 months, 3 weeks ago

Inflation in Europe edges down again. But will Houthi attacks on ships spoil the relief?

Associated Press  

FRANKFURT, Germany — Inflation in Europe edged lower in January to 2.8%, keeping alive speculation about quicker interest rate cuts that would lower borrowing costs for businesses and consumers — and help boost the stagnating economy. “This uncertainty could ultimately prompt central banks to delay rate cuts to give themselves more information on the inflationary impact.” Economic models suggested the …

Europe’s economic pain drags on with zero growth at the end of last year
10 months, 3 weeks ago

Europe’s economic pain drags on with zero growth at the end of last year

Associated Press  

FRANKFURT, Germany — Europe’s economy failed to expand at the end of 2023, dragging out the stagnation for more than a year amid higher energy prices, costlier credit and a downturn in former powerhouse Germany. “The big picture is that eurozone GDP has been flat since the third quarter of 2022 when gas prices surged and the ECB started raising …

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled
1 year ago

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled

Associated Press  

LONDON — Europeans again saw some relief as inflation dropped more than expected to 2.4% in November, the lowest in over two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy’s ability to grow. The new figure is close to the European Central Bank’s inflation target of 2% following a rapid series …

Europe’s inflation eased to 2.9% in October thanks to lower fuel prices. But growth has vanished
1 year, 1 month ago

Europe’s inflation eased to 2.9% in October thanks to lower fuel prices. But growth has vanished

Associated Press  

FRANKFURT, Germany — The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold. The lower inflation figure follows a rapid series of interest rate hikes by the European Central Bank. The future …

Europe's central bank is set to halt rate hikes as the Mideast war casts a shadow over the economy
1 year, 1 month ago

Europe's central bank is set to halt rate hikes as the Mideast war casts a shadow over the economy

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 …

Euro zone inflation falls to lowest in 2 years as economy slows
1 year, 2 months ago

Euro zone inflation falls to lowest in 2 years as economy slows

The Hindu  

Inflation in the euro zone fell to its lowest level in two years in September, suggesting the European Central Bank's steady diet of interest rate hikes was succeeding in curbing runaway prices albeit at a growing cost for economic growth. Consumer prices in the 20 countries that share the euro rose by 4.3% in September, the slowest pace since October …

Inflation drops to a two-year low in Europe. It offers hope, but higher oil prices loom
1 year, 2 months ago

Inflation drops to a two-year low in Europe. It offers hope, but higher oil prices loom

Associated Press  

FRANKFURT, Germany — Inflation that has plagued Europeans declined sharply in September to the lowest level in two years, strengthening hopes that consumers will get relief from costlier groceries, vacations and haircuts — and that the European Central Bank won’t have to further restrict the economy by raising interest rates from already-record highs. But recently higher oil prices are casting …

Interest rates will stay high 'as long as necessary,' the European Central Bank's leader says
1 year, 2 months ago

Interest rates will stay high 'as long as necessary,' the European Central Bank's leader says

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 head of the European …

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 …

German economy sinking in recession in 2023, predicts European Commission
1 year, 3 months ago

German economy sinking in recession in 2023, predicts European Commission

Live Mint  

Bearing the brunt of high inflation driven by factors like Russia-Ukraine crisis, German economy is expected to contract in 2023, predicted European Commission on Monday. The recent cut in forecast has come at a time when Euro's biggest economy is facing high inflation and the spill over effect of Russia-Ukraine war. Euro zone expected to grow slower, says EC The …

Europe’s inflation held steady in August as European Central Bank keeps an open mind on rates
1 year, 3 months ago

Europe’s inflation held steady in August as European Central Bank keeps an open mind on rates

Associated Press  

FRANKFURT, Germany — Annual inflation held steady in Europe in August as food prices raced ahead of falling fuel costs, but there was no clarity about whether the European Central Bank will pause its record series of interest rate hikes. European Central Bank President Christine Lagarde has said that the interest rate decision at the Sept. 14 policy meeting will …

Europe’s economy grows a bit after months of stagnation. But rate hikes are weighing on businesses
1 year, 4 months ago

Europe’s economy grows a bit after months of stagnation. But rate hikes are weighing on businesses

Associated Press  

FRANKFURT, Germany — Europe’s economy has grown modestly after months of stagnation, but higher interest rates designed to fight inflation are casting a shadow as they make it more expensive for households and businesses to borrow, invest and spend. Europe’s largest economy, Germany, struggled in the second quarter, recording zero growth after two straight quarters of falling output as it …

Rupee under threat from rising interest rates in U.S., Europe? There may be a way out
1 year, 4 months ago

Rupee under threat from rising interest rates in U.S., Europe? There may be a way out

India Today  

Indians bear the brunt of high prices both directly and indirectly. However, if prices grow in advanced economies, their central banks raise interest rates and that strengthens the dollar or their currencies and weakens the rupee, eventually. On the other hand, the European Central Bank raised interest rates nine times from zero per cent in January 2022 to 4.25 per …

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 …

At 3.25%, ECB hikes rates to 22-year high as it battles inflation; check details
1 year, 6 months ago

At 3.25%, ECB hikes rates to 22-year high as it battles inflation; check details

Live Mint  

The European Central Bank on June 15 lifted interest rates by another quarter-point - to their highest level in 22 years and left the possibility for more hikes, extending its fight against high inflation amid faltering euro zone economy. “Future decisions will ensure that the key ECB interest rates will be brought to levels sufficiently restrictive to achieve a timely …

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  

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Europe’s economy barely grows as inflation pinches consumers
1 year, 7 months ago

Europe’s economy barely grows as inflation pinches consumers

Associated Press  

FRANKFURT, Germany — The European economy scraped out meager growth in the first three months of the year, barely gaining momentum as stubborn inflation raises the price of groceries and erodes people’s willingness to spend paychecks that are failing to keep pace. Friday’s less-than-stellar increase of 0.1% from the previous quarter follows disappointing growth estimates from the U.S., which kept …

Dollar’s crown to slip as peers catch up in rates race, survey
1 year, 8 months ago

Dollar’s crown to slip as peers catch up in rates race, survey

Live Mint  

The U.S. dollar will weaken against most major currencies this year as the interest rate gap with its peers stops widening, putting the currency on the defensive after a multi-year run, according to a Reuters poll of foreign exchange strategists. Despite starting the year on a weak footing, the dollar bounced back sharply in February, gaining nearly 3% for the …

Europe’s inflation eases to 6.9% as energy falls but food up
1 year, 8 months ago

Europe’s inflation eases to 6.9% as energy falls but food up

Associated Press  

LONDON — Inflation in the 20 countries that use the euro currency slowed to the lowest level in a year as energy prices dropped, but food costs were still on the rise, keeping pressure on the European Central Bank to hike interest rates further. “The potential for core inflation to remain stickier than hoped will be the main reason for …

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 …

US Fed signals more rate rises to come as Powell says: ‘The job is not done’
1 year, 10 months ago

US Fed signals more rate rises to come as Powell says: ‘The job is not done’

The Telegraph  

The US economy still faces more punishing rate rises even as inflation slows rapidly, the head of the Federal Reserve has warned. Chairman Jerome Powell said the bank had “more work to do” to bring inflation back to its 2pc target despite signs that price rises are slowing. Mr Powell told reporters that “a couple more rate hikes” were “probably …

Inflation drops sharply in Europe but some prices are still rising faster
1 year, 11 months ago

Inflation drops sharply in Europe but some prices are still rising faster

CNN  

London CNN — Inflation in Europe continued to decline in December as energy prices rose at a slower pace. Prices across the 19 countries that used the euro in 2022 increased at an annual rate of 9.2% in December, the European Union’s statistical office said Friday. While energy inflation fell to 25.7% in December, compared to 34.9% in November, the …

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 …

Inflation in Europe drops for the first time in 17 months
2 years ago

Inflation in Europe drops for the first time in 17 months

CNN  

London CNN Business — For the first time in 17 months, inflation in Europe is easing. In Germany, the bloc’s biggest economy, annual inflation slid to 11.3% from 11.6%, while price gains in France held steady at 7.1%, Wednesday’s data showed. While energy price inflation fell to roughly 35% year-over-year, compared to nearly 42% in October, prices for food, alcohol …

Eurozone inflation falls for first time in 17 months
2 years ago

Eurozone inflation falls for first time in 17 months

New Indian Express  

Boosted by soaring energy and food bills triggered by Russia's war in Ukraine, the rate of price increases had hit a new historic record every month since November 21. Analysts had expected the inflation rate in the single currency area to fall but the drop was steeper than predicted by Bloomberg and FactSet, who foresaw 10.4 per cent. Among the …

Inflation in Europe eases but is still in painful double digits
2 years ago

Inflation in Europe eases but is still in painful double digits

LA Times  

Inflation in Europe has eased for the first time in more than a year as energy prices drift down from painful highs, but the double-digit rate still hovers near a record and has robbed consumers of spending power and led economists to predict a recession. Roaring inflation is being fed by high energy prices, which have been caused by Russia …

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