Housing market chills as mortgage rates, prices scare buyers
NEW YORK (AP) — Rising mortgage rates have combined with already high home prices to discourage would-be buyers. Mortgage applications have declined sharply.
FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S.
FRANKFURT, Germany (AP) — Italian Prime Minister Mario Draghi's offer to resign has sent unsettling ripples through financial markets, bringing back bad memories of Europe's debt crisis a decade ago and complicating the European Central Bank's job as it raises interest rates for the first time in 11 years to combat record inflation.
BERLIN (AP) — The European Central Bank said Tuesday that its president, Christine Lagarde, was targeted in a hacking attempt but no information was compromised.
The attempt took place “recently,” the Frankfurt-based central bank for the 19 countries that use the euro said in an emailed response to a query about a report by Business Insider.
BRUSSELS (AP) — The European Union on Tuesday removed the final obstacles to Croatia adopting the euro, enabling the first expansion of the currency bloc in almost a decade as the exchange rate fell to its weakest level against the dollar in 20 years.
FRANKFURT, Germany (AP) — Europe's banks aren't sufficiently considering risks from climate change and must “urgently step up efforts” to make sure they understand the possible impact of floods, wildfires and losses on investments.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market.
SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected.
BRUSSELS (AP) — European Union leaders agreed Friday that Croatia will join the group of countries using the euro, bringing the number of nations sharing the currency to 20 starting in January.
“The euro is the monetary expression of our shared destiny and has been part of our European dream," said EU Council President Charles Michel, who chaired a summit of bloc leaders in Brussels.
A European Central Bank poised to raise interest rates for the first time in 11 years vowed Wednesday to create an unspecified market backstop that could buffer member countries against financial turmoil like that seen during a debt crisis more than a decade ago.
Stocks tumble as rate pressures grow, inflation report looms
NEW YORK (AP) — Stocks on Wall Street tumbled Thursday following the latest reminder that central banks now care more about fighting inflation than propping up markets.
Stocks are closing sharply lower on Wall Street Thursday following the latest reminder that central banks now care more about fighting inflation than propping up markets.
The S&P 500 fell and is on track for its ninth losing week in the last 10.
AMSTERDAM (AP) — The European Central Bank will raise interest rates next month for the first time in 11 years and add another hike in September, catching up with other central banks worldwide as they pivot from supporting the economy during the COVID-19 pandemic to squelching soaring inflation.
TOKYO (AP) — Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above $120 a barrel, adding to price pressures.
Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese exporters higher.
FRANKFURT, Germany (AP) — The president of the European Central Bank on Monday gave the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation.
The head of the European Central Bank reiterated Thursday that the bank would raise interest rates “some time after” ending its pandemic stimulus efforts later this year, sticking to a gradual path even as the United States, United Kingdom and other countries take a harder line to combat soaring consumer prices.
FRANKFURT, Germany (AP) — European Central Bank President Christine Lagarde tweeted Thursday that she tested positive for COVID-19 and has mild symptoms but will continue working from home.
“I am vaccinated and boosted, and my symptoms are thankfully reasonably mild,” Lagarde, 66, wrote on Twitter.
NICOSIA, Cyprus (AP) — No data currently suggests Europe will fall into stagflation, a combination of high inflation, little or no economic growth and high unemployment, the European Central Bank 's president said Wednesday.
NICOSIA, Cyprus (AP) — RCB Bank in Cyprus said Thursday an “extremely volatile geopolitical situation” has prompted it to wind down operations and turn itself into an asset management company.
The announcement came exactly a month after the start of Russia’s invasion of Ukraine.
The European Central Bank said Thursday that it will make an early exit from its economic stimulus efforts as it combats record inflation that threatens to go ever higher as energy prices soar during Russia's war in Ukraine.
BELGRADE, Serbia (AP) — Faced with a rush of people withdrawing money, Sberbank and the Russian bank’s subsidiaries in southeastern and central Europe are facing closures or takeovers following international sanctions imposed on Moscow for its invasion of Ukraine.
BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street fell as investors watched for signs of whether global central banks will try to cool inflation by speeding up the withdrawal of economic stimulus.
FRANKFURT, Germany (AP) — The head of the European Central Bank said record inflation could linger for “longer than expected” and appeared to open the door at least a crack for an interest rate increase this year.
FRANKFURT, Germany (AP) — Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row, extending pain for consumers and sharpening questions about future moves by the European Central Bank.