Euro zone inflation 8.6% in June, ECB to hike rates for first time in 11 years

The ECB has announced it will be hiking rates in July and September to counter record inflation. Daniel Roland | Afp | Getty Images Euro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years. Headline inflation came in at 8.6% (year-on-year) for … Read more

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

Cleveland Fed President Loretta Mester takes part in a panel agreed to speak about the health of the US economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the US central bank meets to decide … Read more

ECB’s Lane sees double-sided risk of spiraling inflation and economic slowdown

Philip Lane, chief economist of the European Central Bank. Bloomberg | Bloomberg | Getty Images European Central Bank Chief Economist Philip Lane said the Frankfurt institution will have to remain vigilant over the coming months with the prospect of inflation spiraling ever higher alongside the risk of a consumer-led slowdown in the region. “With the … Read more

Treasury yields in focus as investors assess recession risk

The yield on the benchmark US 10-year Treasury note fell to its lowest level in almost two weeks on Thursday as investors continued to assess the likelihood of a recession. The yield on the 10-year Treasury note was around 4 basis points lower at 3.117%, while the yield on the 30-year Treasury bond fell 3 … Read more

Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | nur photo | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its … Read more

Treasury yields in focus amid economic data

US Treasury yields rose on Tuesday as investors awaited the release of a fresh batch of economic data on the first trading day of the week. The yield on the benchmark 10-year Treasury note was almost 3 basis points higher at 3.269%, while the yield on the 30-year Treasury bond traded 4.5 basis points higher … Read more

Labor market ‘worse than the ’70s’ as strikes hit UK

A usually busy Waterloo Station is almost empty in London on June 21, 2022 as the biggest rail strike in over 30 years hits the UK. Ben Stansall | Afp | Getty Images LONDON – The labor market is “worse than the 1970s,” with massive rail strikes in the UK offering a sign of things … Read more

Inflation the biggest poison for the world economy

Europe and the US face a high likelihood of recession as central banks are forced to aggressively tighten monetary policy to combat inflation, according to Deutsche Bank CEO Christian Sewing. The US Federal Reserve, European Central Bank, Swiss National Bank and the Bank of England all moved to rein in inflation last week, albeit to … Read more

U.S. Treasury yields fall after tumultuous week

US Treasury yields pulled back Friday as a volatile week, which saw central banks around the world signaled a more aggressive effort to curtail soaring inflation, drew to a close. At around 5:27 am ET, the yield on the benchmark 10-year Treasury note was 9 basis points lower at 3.214%, while the yield on the … Read more

Bank of England hikes rates for the fifth time in a row as inflation soars

LONDON — The Bank of England on Thursday implemented a fifth consecutive hike to interest rates as it looks to rein in soaring inflation. The Monetary Policy Committee voted 6-3 to increase the Bank Rate by 25 basis points to 1.25%, with the three dissenting members voting for a 50 basis point hike to 1.5%. … Read more