On 12 December, the European Central Bank (ECB) shaved a quarter point from its key deposit interest rate, bringing it to 3 percent, and said the Eurozone’s economy will expand by 1.1 percent in 2025. In September, the bank had forecast a 1.3-percent expansion.
The collective economy of the 20 countries sharing the euro currency grew 0.4 percent in the third quarter, twice the speed of the 0.2-percent gain in the second quarter, according to official data.
Just this past week, both the European Central Bank and the Canadian Central Bank, which is also known as the Bank of Canada, cut rates. Both the ECB and the CCB, made their move to cut rates following a move by the Swiss National Bank.
Reporting a “substantial” drop in applications for loans, Eurozone banks are pressing the European Central Bank (ECB) to cut its interest rate from a record 4 percent, where it has held since last September.
The European Central Bank’s (ECB’s) governing council left the bank’s base interest rate at a record 4 percent at its meeting last week and gave a strong indication that it will cut the rate when it convenes again on 6 June.
At its meeting last week, the governing council of the European Central Bank (ECB) left the bank’s key interest rate at a record high of 4.50 percent and indicated the rate will not fall before June.
The European Union is following in the footsteps of China in the issuance of a digital currency that will monitor and exert control over commercial interactions of citizens there in unprecedented ways.
To date, the widespread adoption of AI by European businesses has created more jobs than it has eliminated, especially for younger workers, a study by the European Central Bank (ECB) has found.
Top-line inflation in Europe is easing, but central bankers are warning they do not expect to cut interest rates any time soon.
In September, 69,000 workers lost their jobs in the 20-nation Eurozone, nudging the jobless rate to 6.5 percent. More than 11 million people across the region are now out of work, 165,000 more than a year earlier, the Financial Times reported.