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

LONDON (AP) — 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. Inflation for the...

International Monetary Fund warns Europe against prematurely declaring victory over inflation

FRANKFURT, Germany (AP) — The European Central Bank and other policymakers across Europe need to keep interest rates at current elevated levels until they're sure inflation is under control despite sluggish growth, the International Monetary Fund said Wednesday, warning against “premature...

Bank of England keeps main UK interest rate at 15-year high of 5.25% and cautions over oil prices

LONDON (AP) — The Bank of England kept its main interest rate unchanged on Thursday at the 15-year high of 5.25% and indicated that borrowing costs will likely remain at these sort of elevated levels for a while, especially if oil and gas prices increase sharply because of the Israel-Hamas war. ...

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

FRANKFURT, Germany (AP) — 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. But that encouraging news was balanced...

Europe's central bank halts rate hikes as war in the Middle East casts a shadow over the economy

FRANKFURT, Germany (AP) — The European Central Bank left interest rates unchanged Thursday for the first time in over a year as the Israel-Hamas war spreads even more gloom over already downbeat prospects for Europe’s economy. It is the bank's first meeting with no change after a...

European Central Bank leaves interest rates unchanged for the first time in more than a year as recession fears grow

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

FRANKFURT, Germany (AP) — 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...

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

FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that interest rates will stay high enough to restrict business activity for “as long as necessary” to beat back inflation. Still, she sympathized with homeowners who have seen their mortgage payments jump. ...

Europe's central bank hikes key interest rate to record high even as recession threat grows

FRANKFURT, Germany (AP) — 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. ...

European Central Bank raises interest rates for the 10th time in a row to fight inflation despite weak economic growth