Latest Christine Lagarde News

Inflation hits record 8.6% for 19 countries using the euro

Jul. 01, 2022 07:02 AM EDT

LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine. Annual inflation in the eurozone's 19 countries hit 8.6% in June, surging past the 8.1% recorded in May,...

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Jun. 29, 2022 12:28 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can...

Asian shares track Wall St drop as inflation fears drag on

Jun. 29, 2022 01:06 AM EDT

BANGKOK (AP) — Shares skidded in Asia on Wednesday after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession. U.S. futures edged higher while oil prices fell back. A...

Europe's central bank ready to 'stamp out' surging inflation

Jun. 28, 2022 06:47 AM EDT

SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected. In a...

World shares mostly higher after wobbly day on Wall Street

Jun. 28, 2022 05:29 AM EDT

BANGKOK (AP) — Global stocks were mostly higher Tuesday after a wobbly day on Wall Street as markets cooled off following a rare winning week. Oil prices pushed higher and U.S. futures also advanced. As they wrapped up a summit in Elmau, Germany, Group of Seven...

EU leaders tackle inflation, energy shocks from Russia's war

Jun. 24, 2022 12:33 PM EDT

BRUSSELS (AP) — A day after endorsing Ukraine's candidacy to join the European Union, the bloc's leaders turned their attention Friday to the severe economic turbulence from Russia’s war in the neighboring country as the conflict's full impact sinks in and the threat of recession rises. ...

Europe's central bank to hike rates in July, 1st in 11 years

Jun. 09, 2022 12:40 PM EDT

AMSTERDAM (AP) — The European Central Bank will raise interest rates next month for the first time in 11 years and add another hike in September, catching up with other central banks worldwide as they pivot from supporting the economy during the COVID-19 pandemic to squelching soaring inflation....

Asian shares fall as oil lingers above $120, yen sinks

Jun. 08, 2022 23:59 PM EDT

TOKYO (AP) — Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above $120 a barrel, adding to price pressures. Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of...

Eurozone inflation hits record 8.1% amid rising energy costs

May. 31, 2022 09:14 AM EDT

LONDON (AP) — Eurozone inflation hit a record 8.1% in May amid surging energy and food costs fueled in part by Russia's war in Ukraine. Annual inflation in the 19 countries that use the euro currency soared past the previous record of 7.4% reached in March and April, according to...

Davos gathering overshadowed by global economic worries

May. 25, 2022 14:07 PM EDT

DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic. The risks to the global economy are many, leading to an increasingly gloomy view of the months ahead for...