European

European Central Bank Confirms July Rate Hike Plans, Raises Inflation Projections Significantly

The European Central Bank faces a difficult balancing act, with inflation hitting record highs while the war in Ukraine casts a shadow over growth prospects. Thomas Lohnes | Getty Images News | Getty Images The European Central Bank on Thursday confirmed its intention to raise interest rates at its policy meeting next month and lowered …

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Why Russia Doesn’t Suffer Even As It Cuts Off European Gas | CNN Business

London CNN Business — Russia’s increasingly aggressive actions against its European gas customers are taking their toll. The country natural gas exports have fallen by more than a quarter since January. But soaring prices have kept Russia’s coffers bloated as it continues to cut deliveries. Moscow’s gas exports to countries outside its Commonwealth of Independent …

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European stocks rebound, Chinese rate move bolsters sentiment

LONDON, May 20 (Reuters) – Stocks rebounded on Friday after China slashed a key benchmark to support its economy, although a gauge of global equities remains set for its longest streak of weekly losses on record amid investor concerns about slowing growth and high inflation. China slashed its five-year prime lending rate (LPR) – which …

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