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Finance minister Nazare keeps new 2027 taxes open but rules out market-value property tax
Romania's finance minister said on 25 October 2026 that he does not want new taxes but will not rule them out for 2027, and that pension indexation depends on budget data still being entered.
Moody's keeps France at Aa3 with negative outlook as bond yields top 5%
Moody's held France's sovereign rating at Aa3 on Friday, 23 October, against many economists' expectations, but kept a negative outlook tied to a 2027 budget that has yet to pass.
Eurozone growth slows to four-month low as France's private sector contracts
The flash composite PMI for the eurozone fell to 51.9 in October from 53.1, while France's index dropped below 50 to 48.4. The UK posted its fastest private-sector growth since February, with new work rising at the sharpest pace in two years.
Youth protests spread across Europe as cost of living and school cuts fuel unrest
Protests over living costs, housing and school budgets have spread from France to Italy, Spain, Belgium, Albania and Portugal, with riots and mass arrests in several cities.
Tax estimate adds 4.1 billion euros for federal 2027, but Klingbeil sees no new room
Germany's autumn tax forecast raises federal revenue for 2027 by 4.1 billion euros. Finance Minister Lars Klingbeil says the extra money does not free up room for new relief, and coalition talks on the electricity tax cut remain open.
China's Q3 GDP grows 4.5% as exports surge and retail sales beat forecasts
China's economy expanded 4.5% year on year in the third quarter, slightly above expectations. Export growth accelerated to 36.3% in September while domestic demand stayed weak, with retail sales up only 1.1%.
UK inflation rises to 3.5% in September on fuel prices, above forecasts
Annual inflation reached 3.5% in September, up from 3.1% in August and above the 3.4% economists had expected. Petrol and diesel costs were the main driver as the Budget approaches.
Tech sell-off and oil near $112 push European and US stocks lower
Shares fell in London, Paris, Frankfurt and New York on Thursday, 22 October, as doubts over AI spending hit technology stocks and Brent crude traded near $112 a barrel.
Italy's BTP Valore double issue raises 16.6 billion euros as Treasury lifts coupons
Savers lent the Italian Treasury 16.62 billion euros over five days of sales that closed on 23 October. The ministry then raised the coupon rates of both bonds, with Insieme's final payment set at 22.70%.
ECB warns eurozone food prices could rise again in 2027 as energy and weather shocks build
An ECB blog post published on Tuesday, 20 October 2026 projects eurozone food inflation reaching 3.4% in the third quarter of 2027. The authors point to an energy shock and extreme weather as the main risks.
Romania posts the EU's largest quarterly budget deficit, at 9.2% of GDP in Q2 2026
Eurostat data published on 21 October puts Romania's second-quarter deficit at 9.2% of GDP, against 3.5% for the EU. The National Bank's chief economist says the quarterly figure is not an annual one.
Messina says state collects 25 billion euros in bank taxes as budget levy is debated
Intesa Sanpaolo chief executive Carlo Messina said on 20 October that banks had already contributed under a three-year deal with the government and should not carry a new levy alone.
IMF sees 3.1% global growth in 2026 as AI investment offsets energy shock
Speaking at the IMF and World Bank annual meetings in Bangkok, the fund says AI spending has kept the world economy afloat, while energy costs, inflation and debt are shrinking room for policy.
Portuguese mortgage interest rate rises for fourth month to 3.194% in September
Interest on Portuguese housing loans rose again in September, and the average monthly payment reached 423 euros, with interest now taking over half of it.
Aecoc urges next government to restore zero VAT on basic foods as spending slows
Ignacio González, president of the retail goods lobby Aecoc, asked the government elected on 29 November to cut taxes as food inflation and weaker spending weigh on households.
US consumer prices rise 3.7% in September as gasoline jumps 9.1%
Energy costs linked to the war with Iran pushed US consumer prices up 3.7% from a year earlier, weeks before the 3 November midterm elections. The Federal Reserve now faces pressure to raise rates again at its 27-28 October meeting.
S&P affirms Greece at BBB with stable outlook, sees 2026 primary surplus at 3.8% of GDP
S&P Global Ratings kept Greece's sovereign rating at BBB with a stable outlook on 23 October 2026. The agency expects debt net of liquid assets to fall to 123% of GDP by the end of 2026 and to 107% by the end of 2029.
German industry has shed almost 500,000 jobs since 2019, Ifo study finds
Ifo counts 496,000 fewer industrial workers at the end of 2025 than at the start of 2019, while services added just over 2.2 million jobs over the same period.
Draghi blames blocked expectations for youth protests and says no ECB move for France
Former ECB president Mario Draghi, speaking to Bloomberg, linked youth unrest in France and Italy to blocked expectations, and said nothing yet justifies an ECB intervention in France.
Poles plan modest All Saints' Day budgets, with most spending 201 to 500 zł
Most Poles expect to spend between 201 and 500 zł on candles, flowers and grave cleaning for All Saints' Day, a Santander Consumer Bank survey shows. Candles, wreaths and grave cleaning are the largest expense for 35% of respondents.
Robert Hall and Michael Woodford win 2026 Nobel economics prize for macro stabilisation work
The Royal Swedish Academy of Sciences named Robert Hall and Michael Woodford on Monday, 12 October, for work on the microeconomic foundations of macroeconomic stabilisation. The prize is worth 12 million Swedish kronor, about one million euro.
China's September exports jump 36.3%, nine-month surplus nears $1 trillion
Chinese exports rose 36.3% in September from a year earlier, while the trade surplus for the first nine months of 2026 reached $938.110 billion, according to customs data released on Wednesday, 14 October.
Irish presidency proposes 8% cut to Commission's 2028-2034 EU budget plan
The revised framework totals 1.62 trillion euros and saves 141 billion euros against the Commission's initial proposal, with cohesion and agriculture taking the smallest reduction. The Commission criticised the cuts, and Portugal's prime minister said his country is not in a position to be optimistic.
Russia's central bank sells gold at fastest pace since 1998 to plug budget gap
Russia's central bank cut gold reserves by about 6.2 tonnes in September alone, while the 2026 budget deficit is now projected at 7.3 trillion rubles, twice the original plan.
Portuguese household net wealth rises 67% since 2010 to 1,196 billion euros
The richest 10% of households hold almost 59% of net wealth, while the poorest half holds about 6%, according to new Banco de Portugal data for 2025.
Singles earning above 6,050 euros net rank in Germany's richest 4%, IW study finds
A new Institut der deutschen Wirtschaft study published on Monday, 19 October 2026 maps income bands for each household type. The relative poverty line for a single adult sits at 1,450 euros net a month, and it rises to 3,050 euros for couples with two children under 14.
Lagarde could be named World Economic Forum chair on 2 November, bringing forward her ECB exit
The World Economic Forum board meets on 2 November and could elect Christine Lagarde as chair, which would bring forward her departure from the European Central Bank ahead of its October 2027 term end.
Spain's inflation rises to 4.9% in September as diesel gets 35.7% dearer in a year
Spain's consumer price index rose 4.9% year on year in September, its highest level since February 2023, while diesel has become more expensive than petrol on average.
Euro area inflation rises to 3.8% in September as trade deficit reaches €16.1 billion
Eurostat data published on 16 October show annual inflation in the euro area and the EU climbed to 3.8% in September, driven by energy prices, while the euro area's goods trade deficit widened to €16.1 billion in August.
G7 finance ministers agree to run AI cyberattack drills on banks
G7 finance ministers agreed to run simulation exercises on AI-enabled cyberattacks against financial institutions, Japan's finance minister said in Bangkok on Thursday, 15 October, days after an IMF warning about the sector.