4 d. ago Looming tariff dispute between US and EU ‘extremely concerning’ – bank governor

Gabriel Makhlouf, governor of the Central Bank of Ireland, said that forecasting in a time of ‘extreme uncertainty’ is challenging.

Economics

6 d. ago Mark Carney to announce Canadian election and will run in Ottawa’s Nepean riding

Recently installed prime minister expected to announce 28 April ballot as he seeks to keep Liberal party in government Mark Carney will run for election in the Ottawa riding of Nepean as the new Canadian prime minister seeks to join parliament for the first time, his Liberal party has announced.Carney on Sunday is predicted to trigger an early general election on 28 April. The Liberals said on Saturday that Carney would run to represent suburban Nepean, noting in a social media post that Ottawa is where he raised his family and devoted his career to public service. He previously served as the head of Canada’s central bank and before that as deputy. Continue reading...

Politics

7 d. ago Former Pontypridd town centre bank to be turned into a hotel

Plans for the old HSBC bank on Taff Street were approved by Rhondda Cynon Taf Council's planning committee recently

Politics

8 d. ago European stocks drop as investors digest central bank warnings

Another muted day of trading for London’s FTSE 100 saw the index dip 4.67 points, or 0.05%, to close at 8,701.99.

Events

9 d. ago Fed cuts US growth forecast as Trump’s policies weigh on outlook

Central bank also lifts inflation projection as chair Jay Powell warns of tariff impact

Politics

9 d. ago Fed to decide on rates as Trump’s tariffs cloud economic outlook

Chair Jay Powell faces message challenge as central bank prepares to release new ‘dot plot’

Economics

1 week ago The $300 billion question: What to do with Russia's frozen central bank money?

With U.S. support for Ukraine in doubt, Kyiv’s European allies are weighing whether to seize $300 billion in frozen Russian assets

Economics

1 week ago Fear of a tariff ‘Trumpcession’ puts pressure on Bank and Fed over interest rates

A trade war could push up inflation when both the UK and US economies really need cheaper borrowing. So what’s a central bank to do?Monetary policymakers on both sides of the Atlantic will be considering how seriously to take Donald Trump’s threats of an all-out trade war as they give their verdict on the path of interest rates this week.The Federal Reserve, the US ­central bank, will examine the prospect of a “Trumpcession” brought on by tariffs that send import costs rocketing and convince consumers, already shellshocked from the cost of living crisis, to stop spending. Continue reading...

Politics

1 week ago As cyberwarfare threat looms, cashless Nordic nations go back to banknotes | Miranda Bryant

Nordic countries were early adopters of digital payments. Now, electronic banking is seen as a potential threat to national securityIn 2018 a former deputy governor of Sweden’s central bank predicted that by 2025 the country would probably be cashless.Seven years on, that prediction has turned out to be pretty much true. Just one in 10 purchases are made with cash, and card is the most common form of payment, followed by the Swedish mobile payment system Swish, launched by six banks in 2012 and now ubiquitous. Other mobile phone payment services are also growing quickly. Continue reading...

Economics

2 w. ago Lagarde says ‘impossible’ for ECB to always guarantee 2% inflation

Potential price pressure from trade war and debt-fuelled borrowing add to uncertainty, warns central bank president

Economics

2 w. ago Lagarde says ‘impossible’ for ECB to always meet inflation target

Central bank likely to miss 2% goal more often in future due to ‘exceptionally high’ uncertainty

Economics

3 w. ago S&P 500 notches biggest weekly drop in 6 months despite post

Fed chair Jay Powell says central bank is no ‘hurry’ to cut rates despite weaker-than-forecast jobs figures

Politics

3 w. ago US stocks reverse jobs data disappointment to trade in positive territory

Fed chair Jay Powell says central bank is no ‘hurry’ to cut rates despite weaker-than-forecast jobs figures

Politics

3 w. ago Fed chief Jay Powell plays down growth worries after jobs report disappoints

Chair says US central bank in no ‘hurry’ to cut interest rates at end of turbulent week for Wall Street

Politics

3 w. ago ECB cuts rates again and warns trade war fears are hurting Europe’s economy

Quarter-point cut to deposit rate, to 2.5%, comes as Trump prepares to impose tariffs on EU exports to USBusiness live – latest updatesThe European Central Bank has cut interest rates across the 20-member eurozone for the second time this year, and warned that trade war fears were hurting Europe’s economy.The Frankfurt-based rate setter cut its benchmark deposit rate by a quarter of a percentage point to 2.5%, in line with City economist expectations, as Trump prepared to impose 25% tariffs on all goods imported from the EU, in line with similar actions taken against Canada and Mexico. Continue reading...

Events

3 w. ago European Central Bank cuts interest rates again, by quarter point – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling reverse earlier gainsThe eurozone saw the biggest slump in construction in three months in February, according to a separate survey.There was a marked reduction in new orders while cost pressures eased, according to a monthly report from Hamburg Commercial Bank.Unpleasant signals come from the Eurozone construction sector as the HCOB eurozone construction PMI in February shows deepening weakness that does not seem likely to fade soon. The recession now encompasses all three major Eurozone economies: Germany, France, and Italy.Although the ECB, particularly executive board member Isabel Schnabel, has signalled a pause in the rate-cutting phase to await further dynamics, the construction sector makes it clear that a delay in rate cuts in interest-sensitive areas can be fatal.Sharply declining order books rippled through the UK construction sector in February, which led to accele...

Economics

3 w. ago European Central Bank cuts interest rates for second time this year

Quarter-point cut to deposit rate, to 2.5%, comes as Europe fears Trump will soon impose tariffs on EU exports to USBusiness live – latest updatesThe European Central Bank has cut interest rates across the 20-member eurozone for the second time this year to bolster economic activity, as Europe braces for Donald Trump to impose damaging tariffs on EU exports to the US.The Frankfurt-based rate setter cut its benchmark deposit rate by a quarter of a percentage point to 2.5%, in line with City economist expectations, as Trump prepares to impose 25% tariffs on all goods imported from the EU, in line with similar actions taken against Canada and Mexico. Continue reading...

Politics

3 w. ago Trump, tariffs and potential defense spending surge overshadow European Central Bank meeting

The impact of a potential trade war with the United States and massive increases in European defense spending and government borrowing are looming over Thursday’s policy meeting at the European Central Bank

Economics

3 w. ago Markets climb as defence stocks, euro and pound rally on Europe’s Ukraine peace push – business live

German stock market records biggest gains after Starmer announces ‘coalition of the willing,’ as investors expect big splurge in defence spending Eurozone inflation has dipped, moving closer to the European Central Bank’s 2% target, ahead of a widely expected drop in interest rates at the central bank’s meeting on Thursday.Headline inflation fell from 2.5% to 2.4% in January, while core inflation, which strips out volatile energy and food costs, dropped from 2.7 to 2.6%, Eurostat said this morning.After quite a strong January reading, February eurozone inflation came in soft. Core inflation ticked down after having been stable at 2.7% since September.The weak economic environment seems to trump an increase in reported input costs for the moment. For the European Central Bank, this is a dovish sign as the governing council mulls over how low it should bring rates. Continue reading...

Economics

3 w. ago South Africa’s central bank governor sounds alarm on ‘rightwing populism’

Lesetja Kganyago warns institutions are increasingly a target as the principle of independence comes under attack

Events