ECB member Holzmann on inflation, fragmentation ahead of July rate hike

The ECB is heading to a critical meeting in July with a rate rise expected and investors awaiting details of its new fragmentation tool. Daniel Roland | afp | Getty Images A member of the European Central Bank told CNBC Wednesday that there’s plenty of runway to hike interest rates, following the two planned raises … Read more

ECB Lagarde plays down recession risks at Sintra Forum

European Central Bank President Christine Lagarde said the central bank can raise rates faster, if needed. Handout | Getty Images News | Getty Images European Central Bank President Christine Lagarde on Tuesday played down concerns about a recession in the euro zone, also saying her team is ready to raise rates at a faster pace … Read more

Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies

A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it … Read more

Volatile week as investors assess recession prospects

LONDON — European markets closed sharply higher on Friday to end a volatile week, as investors around the world assessed inflation and fears of an economic recession. The pan-European Stoxx 600 index closed up by 2.6% provisionally, its best day in more than three months, with tech shares adding 3.8% to lead gains as all … Read more

Norway announces 50 basis point hike to interest rates, largest for 20 years

Norway’s central bank, also known as Norges Bank, in Oslo, Norway. Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s central bank announced a 50-basis-point hike to its benchmark interest rate on Thursday, the country’s largest single increase since 2002. The move takes the policy rate from 0.75% to 1.25%, and Norges Bank Governor Ida Wolden … Read more

Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation

Jerome Powell, chairman of the US Federal Reserve, arrives to a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Wednesday, June 22, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and … Read more

Stock futures fall after markets claw back some losses

US stock index futures fell slightly overnight Tuesday after the major averages jumped in regular trading hours following, attempting to claw back some losses weeks of selling. Futures contracts tied to the Dow Jones Industrial Average slipped 88 points or 0.29%, while S&P 500 futures declined 0.25%. Nasdaq 100 futures dipped 0.27%. During regular trading … Read more

Labor market ‘worse than the ’70s’ as strikes hit UK

A usually busy Waterloo Station is almost empty in London on June 21, 2022 as the biggest rail strike in over 30 years hits the UK. Ben Stansall | afp | Getty Images LONDON – The labor market is “worse than the 1970s,” with massive rail strikes in the UK offering a sign of things … Read more

Inflation the biggest poison for the world economy

Europe and the US face the high likelihood of recession, the central banks are forced to aggressively tighten monetary policy to combat inflation, according to Deutsche Bank CEO Christian Sewing. The US Federal Reserve, European Central Bank, Swiss National Bank and the Bank of England all moved to rein in inflation last week, albeit to … Read more

Look for more selling pressure in week ahead as investors learn the hard way not to fight the Fed

Federal Reserve Chairman Jerome Powell adjusts his tie as he arrives to testify before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, July 15, 2021. Kevin Lamarque | Reuters Wall Street and the Federal Reserve appeared to enter a new … Read more