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European Central Banks Look to Bring Inflation Back to 2% Target

France and Germany's central bank officials have announced their aim to bring inflation back to its 2% target. In a joint interview, Bank of France Governor Francois Villeroy de Galhau and Bundesbank President Joachim Nagel said that the European Central Bank's tight fiscal policies...

Euro Zone Producer Prices Fall, Confirming Analysts’ Inflation Forecasts

The European Union's statistics office Eurostat revealed on Friday that Euro Zone producers' prices fell month-on-month in October by 2.9%. This marks a 30.8% year-on-year rise; a significant decrease from the 41.9% annual increase in September. Such figures are serving as confirmation of analysts'...

European States to Convene on Gas Price Curb

European Union member states are set to convene on Thursday to discuss strategies to curb gas prices. Rising gas prices have not only caused industry shutdowns but also left households struggling to pay their bills. Diplomats are struggling to reach a consensus on how...

Pound Near 37-Year Low as UK Inflation Soars

The British pound traded at approximately $1.18 on Sunday, just four cents away from its lowest performance against the dollar in the last 37 years. With talk about UK inflation exceeding 18% in the next year, the Bank of England is forecasting a five-quarter...

Bundesbank Believes That German Recession is Likely

Bundesbank stated in its monthly report released on Monday that Germany is increasingly likely to be hit by a recession. The euro zone's largest economy, Germany is facing a skyrocketing inflation rate that is expected to surpass 10% this autumn. Germany's heavy reliance on Russian...

European Central Bank Calls for More Hikes as German Recession Likely

Bundesbank Chief Joachim Nagel recommended that the European Central Bank continue increasing its interest rates so as to repel the recession that Germany seems likely to face otherwise. Nagel stressed the importance of acting quickly in order to tackle the high inflation, explaining, “the...