Europe sees inflation drop to 6.1%, but real relief for consumers will take months

FRANKFURT, Germany (AP) — Europe's inflation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see real relief in what they pay for food and other necessities. The annual figure in May eased from 7% in April for the...

Ready for a digital euro? At 25, European Central Bank preps for future of money

FRANKFURT, Germany (AP) — As it marks its 25th anniversary Wednesday, the European Central Bank is readying a proposed design for a digital version of the euro, responding to pressure from developing technology that could change how money is used over the bank's next decades. ECB...

Europe's economic outlook brightens a little after avoiding recession. But inflation still squeezes

FRANKFURT, Germany (AP) — The European Union's executive body raised its economic growth forecast, saying Europe had dodged a winter recession that was feared amid an energy crisis but warning that stubbornly high inflation is likely to keep hurting the economy by sapping people's ability to...

Stock market today: Asia mixed after Wall St sinks

BEIJING (AP) — Asian stock markets were mixed Friday after Wall Street sank on worries about the health of U.S. banks that are under pressure from interest rate hikes. Shanghai declined while Hong Kong and Sydney advanced. Markets in Japan and South Korea were closed for holidays....

European Central Bank slows pace of rate hikes but vows more

FRANKFURT, Germany (AP) — The European Central Bank slowed the pace of its interest rate increases Thursday, stepping back like the U.S. Federal Reserve from a string of jumbo hikes aimed at snuffing out inflation. But the ECB also said it was “not pausing” even as its efforts have worked by...

European Central Bank chief Christine Lagarde says bank is “not pausing” after slowing pace of interest rate hikes

European Central Bank raises interest rates by quarter-point to fight inflation, slowing pace like U.S. Federal Reserve

Europe's inflation inches up ahead of interest rate decision

FRANKFURT, Germany (AP) — Europe's painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase. Consumer prices in the 20 countries using the euro currency...

Europe's economy barely grows as inflation pinches consumers

FRANKFURT, Germany (AP) — The European economy scraped out meager growth in the first three months of the year, barely gaining momentum as stubborn inflation raises the price of groceries and erodes people’s willingness to spend paychecks that are failing to keep pace. Friday’s...

Central banks end crisis offer as bank system fears ease

FRANKFURT, Germany (AP) — In a sign fears about the global financial system have eased for now, major central banks are scaling back their offer of emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about wider troubles. ...