Sterling, yen dragged by fiscal and political worries
The pound and the yen came under strain on Wednesday, weighed down by renewed investor concerns over global fiscal health and political uncertainty in...
The European Central Bank has reduced its three key interest rates by 25 basis points, aligning with expectations and reflecting progress toward its inflation target.
The European Central Bank (ECB) lowered its main interest rates by 25 basis points, bringing the key deposit rate to 2% - its lowest level since January 2023. The rates for main refinancing operations and the marginal lending facility were also cut to 2.15% and 2.40%, respectively.
This marks the ECB’s eighth cut since launching its rate easing cycle in June 2024.
According to the ECB, inflation is now near its medium-term target. Projections show headline inflation averaging 2.0% in 2025, 1.6% in 2026, and returning to 2.0% in 2027. GDP growth in the euro area is forecast at 0.9% in 2025, 1.1% in 2026, and 1.3% in 2027.
The central bank also cited uncertainty around global trade, noting that escalating tensions could weigh on growth and inflation, while resolution of disputes could boost both indicators.
The rate decision followed a drop in annual euro area inflation to 1.9% in May and ongoing trade talks between the EU and U.S., after the U.S. postponed proposed tariff hikes on EU goods to July 9.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
The pound and the yen came under strain on Wednesday, weighed down by renewed investor concerns over global fiscal health and political uncertainty in Japan.
The price of gold surged sharply on Wednesday, reaching a new record of $3,530.08 per ounce. Analysts say the rise is driven by expectations of a U.S. Federal Reserve (Fed) rate cut in September and concerns over the central bank’s independence.
The New York Stock Exchange opened sharply lower on 2 September as investors weighed the legality of Donald Trump’s tariffs – a federal appeals court has ruled most of them illegal.
Eurozone annual inflation reached 2.1% in August, up from 2% in July, Eurostat announced on Wednesday.
Kraft Heinz is breaking up into two separate companies a decade after its high-profile merger, aiming to unlock greater shareholder value.
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