Christine Lagarde, the head of the European Central Bank, hinted on Wednesday at a first interest rate hike in July to cover soaring inflation, loading the actions of other major central banks and signaling the end of the eurozone’s cheap money era. The ECB must end its bond-buying stimulus “early in the third quarter” and … Read more
Consumer prices in Germany rose at their fastest tempo in four decades, records published Thursday confirmed, as Russia’s invasion of Ukraine pushed up power fees. Inflation climbed to 7.4 percent in April from 7.3 percent in March, in keeping with the federal statistics employer Destatis. “Energy prices, in particular, have increased considerably since the war … Read more
FRANKFURT: Russia’s invasion of Ukraine and spiralling energy prices have upended the economic outlook and left European Central Bank policymakers with the task of navigating the eurozone through a fresh crisis at their meeting on Thursday. The bank had been poised to take another step towards the ‘normalisation’ of its monetary policy, by ending its … Read more
FRANKFURT: German industrial production rose again in January, official figures showed on Tuesday, but the positive picture was likely to be upended by the impact of the war in Ukraine. Production was up 2.7 per cent on the previous month, according to seasonally adjusted figures from the federal statistics agency Destatis, after rising 1.1 per … Read more
BERLIN: German industrial production rose in October after two months of declines, offering a glimpse of light after a series of gloomy economic indicators over raw material shortages that have fuelled rising prices. Germany’s industry produced 2.8 per cent more compared to a month ago, data published by the federal statistics office Destatis showed on Tuesday. … Read more
