European Central Bank hikes rates, vows 'we are not done'

FRANKFURT, Germany (AP) — 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...

European Central Bank head says "we know that we are not done" with interest rate hikes even after plan for March rise

European Central Bank pushes through large half-point interest rate hike to combat inflation, intends the same in March

European inflation eases for 3rd month but prices still bite

LONDON (AP) — 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. The consumer price...

Europe scrapes out economic growth by dodging gas disaster

FRANKFURT, Germany (AP) — Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Economic output crept 0.1% higher in the last...

Asian markets rise after Wall St losses amid recession fears

BEIJING (AP) — Asian stock markets rose Friday after Wall Street losses deepened as worries grow that the U.S. economy is headed for recession. Shanghai, Tokyo and Hong Kong advanced. Seoul declined. Oil prices gained. Traders worry the Federal Reserve and other...

Powell: Fed has only narrow role to play on climate change

WASHINGTON (AP) — The Federal Reserve has only a limited role to play in combating climate change, Chair Jerome Powell said Tuesday, a stance that puts him at odds with environmental activists who have pushed central banks worldwide to take steps to restrict lending to energy companies. ...

Europe's inflation slows again but cost of living still high

LONDON (AP) — Europe ended a bad year for inflation with some relief as price gains eased again. While the cost of living is still painfully high, the slowdown is a sign that the worst might be over for weary consumers. The consumer price index for the 19 countries that used the...

Croatia rings in New Year as fully integrated EU member

ZAGREB, Croatia (AP) — At the stroke of midnight on Saturday, Croatia switched to the shared European currency, the euro, and removed dozens of border checkpoints to join the world’s largest passport-free travel area. It marked a fresh start for the small Balkan nation of 4...

Asian markets follow Wall St lower amid gloomy outlook

BEIJING (AP) — Asian stock markets extended their losses Tuesday amid gloom about weaker global economic growth as central banks raise interest rates to cool inflation. Shanghai, Hong Kong and Sydney declined. Tokyo advanced. Oil prices rose almost $1 per barrel. ...