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.
Chinese President Xi Jinping may visit North Korea as early as next week, South Korea's Yonhap news agency ...
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A Paris appeals ...
Israeli police have come under criticism after footage showed activists from a Gaza-bound aid flotilla kneeling on the ground with their hands tied...
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing f...
Chinese President Xi Jinping may visit North Korea as early as next week, South Korea's Yonhap news agency reported late on Wednesday (21 May) quoting a senior government official.
The pneultimate day of the World Urban Forum 13 in Baku will see Azerbaijan's Pavilion highlight post-construction efforts in Garabagh and East Zangezur, as well as host events on the future of Baku and architectural education.
Israeli police have come under criticism after footage showed activists from a Gaza-bound aid flotilla kneeling on the ground with their hands tied behind their backs following their detention by Israeli forces.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
Asian stocks surged on Thursday as some vessels resumed passage through the Strait of Hormuz, while forecast-beating results at Nvidia and a suspended workers' strike at Samsung Electronics lifted shares of chipmakers.
United Nations World Urban Forum 13 continues in Baku, Azerbaijan on 19 May with sessions and roundtable discussions focused on strengthening dialogue and advancing cooperation in urban development. Organisers say there are nearly 3 billion people globally who face some form of housing inadequacy.
Day four of the World Urban Forum (WUF) in Baku brings a packed agenda on sustainable cities and the global housing crisis, with sessions on green housing, smart cities, public spaces and urban rights taking place on Wednesday (20 May) at Baku Olympic Stadium in Azerbaijan.
At least 21 people have been killed and thousands evacuated after torrential rain triggered flooding, landslides and transport disruption across southern and central China, with authorities warning that more heavy rainfall is expected along the Yangtze River.
Russia’s ambassador to the United Nations Vasily Nebenzya warned on Tuesday (19 May) that Moscow could retaliate against Baltic states if Ukraine launches military drones from that region. Latvia, the United States and Ukraine responded strongly during a UN Security Council meeting.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
Asian stocks surged on Thursday as some vessels resumed passage through the Strait of Hormuz, while forecast-beating results at Nvidia and a suspended workers' strike at Samsung Electronics lifted shares of chipmakers.
Elon Musk’s SpaceX will have to improve its reliability before receiving approval for its target 10,000 launches annually within five years, Bryan Bedford, Head of the U.S. civil aviation agency, the Federal Aviation Administration (FAA), has said.
Demand for electric vehicles has surged across Europe as elevated fuel prices linked to the Iran conflict push consumers toward new and second-hand EVs, according to data shared with Reuters. It is providing a boost to an auto industry that has struggled with slower-than-expected adoption.
South Korea’s Samsung Electronics is facing its largest potential labour action in years, with tens of thousands of workers preparing for a prolonged strike over bonuses and profit-sharing at a time when the company is benefiting from a global artificial intelligence (AI) driven chip boom.
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