Central banks in Europe and China on Friday announced moves to ease credit. But the action may have limited impact.» Read More
Would you believe it? It's already 10 years, since Riverdance power-danced the new bank for Europe through its inauguration at Frankfurt's venerated old opera, with great fanfare, festive speeches and "Ode to Joy", Europe's national anthem.
On the verge of the European Central Bank's 10th anniversary, the news on inflation doesn't look good. Against the bank's target of "below but close to" 2 percent, euro-zone prices rose 3.6 percent in May, compared with the year ago, back to a historic high, data showed on Friday.
The chief executive of Europe's biggest lender on Tuesday called on central bankers to raise interest rates in order to combat inflation.
European Central Bank head Jean-Claude Trichet said on Monday that financial markets were experiencing an "ongoing correction" and repeated that the G7 was concerned about excessive dollar volatility.
Euro zone economic growth looks set for a sharp slowdown in the second quarter after a strong performance at the start of the year, data showed on Friday, but rocketing inflation will keep interest rates on hold.
Erin Burnett has been travelling the globe in search of the market movers of tomorrow. So far she has been to Dubai in the United Arab Emirates and Mumbai, India. Today, she is in London. Like last week's comparison of the UAE and India, here are some stats comparing the UK and the US.
European Central Bank President Jean Claude Trichet warned on Monday that the end of the credit crunch was not yet in sight and the world was experiencing an "ongoing and very significant market correction."
- Notes from an ECB groupie's travelog -
ECB policymaker Christian Noyer said on Tuesday that an explosive mix of soaring commodity prices and "permissive" monetary policy in some countries with dollar pegs could trigger an inflationary spiral which would hurt poor nations most.
European shares ended slightly lower on Thursday, weighed by financials after the region's top two central banks kept rates on hold as expected and investors saw little to suggest euro zone borrowing costs would fall soon.
The European Central Bank left its key interest rate unchanged at 4 percent on Thursday, as widely expected, and its president Jean-Claude Trichet warned on inflation pressures.
The European Central Bank will most likely do on Thursday what it has done every month since the credit crunch started last August: keep rates steady and talk tough on inflation.
The European Central Bank is widely expected to keep interest rates on hold at 4 percent on Thursday, but the opposing pressures of rising inflation and slowing growth could mean the central bank has to act before the year is out.
Euro zone inflation slowed more than expected in April, an early estimate showed, but economic sentiment also deteriorated faster than forecast, pointing to slowing economic growth.
The European Central Bank has to ask itself each month whether a rate rise is needed to control inflation, ECB Governing Council member Yves Mersch was quoted as saying in a newspaper report on Tuesday.
Wage and fiscal policy in the euro zone could buoy inflation and the European Central Bank may need to act on interest rates, ECB policymaker Axel Weber said in a newspaper interview released on Saturday.
The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.
Surging energy and food prices pushed euro zone inflation to a new high of 3.6 percent in March, boosting the euro to a record high against the dollar on fading chances of a ECB rate cut in the near term.
The Dow and S&P 500 snapped a two-day losing streak Thursday, led by technology stocks after an upgrade on the chip sector.
Stocks advanced Thursday, helped by an upgrade on the chip sector and increased forecasts from two Dow components.