ECB holds rates at 2.25% but signals September hike as oil hits $100 on Iran war escalation
The European Central Bank left its deposit rate at 2.25% on Thursday but warned that a fresh jump in energy prices, with Brent crude touching $100 a barrel, could force another increase in September.
ECB unveils 10 candidate designs for first full euro banknote redesign since 2002, opens public survey until 21 September
European Central Bank President Christine Lagarde presented 10 proposed designs for a new series of euro banknotes on 23 July 2026, drawn from two themes: 'European culture' and 'Rivers and birds'. A public online survey runs until 21 September 2026.
ECB unveils new euro banknote designs, asks 358 million citizens to vote on culture vs nature themes
The ECB presented 10 design proposals for the next euro banknote series on Thursday, launching a public consultation that runs until 21 September. The two competing themes are 'European Culture' featuring historical figures and 'Rivers and Birds' showcasing nature and EU institutions.
ECB holds deposit rate at 2.25% as Strait of Hormuz crisis keeps Brent crude near $100 and September hike looms
The European Central Bank held its key interest rates on Thursday, pausing after June's first hike in three years, as it gauges the inflation fallout from the blocked Strait of Hormuz and Brent crude near $100.
ECB holds rates at 2.25% as energy shock from Middle East conflict clouds inflation outlook
The European Central Bank left its deposit rate unchanged at 2.25% on Thursday, judging that the full inflationary impact of the Middle East conflict and surging oil prices has yet to materialise.
Poland's unemployment rate drops to 5.8% in June, but year-on-year jobless count up by over 100,000
Registered unemployment in Poland fell to 5.8% in June from 5.9% in May, but the number of jobless remains over 100,000 higher than a year ago, reflecting a labour market that is cooling without sharp deterioration.
Global chip stocks plunge into bear market as AI doubts and US-Iran strikes rattle investors
Semiconductor shares tumbled worldwide, dragging the Philadelphia index down 11% for the week and pushing Japan's Nikkei into correction, while escalating US-Iran clashes lifted oil prices.
Polish wages rise 5.9% in June, industrial output jumps 7.6% as economy beats forecasts
GUS data shows average pay at 9,401.58 zł, industrial production up 7.6% year-on-year, and construction output rising 5.2%, all above analyst expectations.
French Livret A suffers worst first-half outflows since 2008 as rate cut bites, with €5.93bn withdrawn
The Caisse des Dépôts reported net withdrawals of €5.93 billion from France's most popular savings account in the first six months of 2026, a record for the January–June period since consolidated data began in 2008.
German asking rents jump 4% in Q2, outpacing inflation as Cologne leads with 7.9% surge
Asking rents across Germany climbed 4.0% year-on-year in the second quarter of 2026, far exceeding the 2.6% inflation rate, according to a new study by the German Economic Institute (IW).
German rental growth loses momentum as Berlin sees first decline in years, Cologne surges 6%
The Kiel Institute's Greix index shows asking rents up just 0.3% in real terms year-on-year, with Berlin posting a 0.8% drop while Cologne jumped 6.0%.
IMF approves $690 million for Ukraine as board flags reform delays and war costs
The International Monetary Fund on Monday unlocked a $690 million tranche for Ukraine as part of its $15.6 billion Extended Fund Facility, despite noting a slowdown in structural reforms and growing economic headwinds from war damage and Middle East spillovers.
Extreme heat costs Italy up to €12 billion a year, Confesercenti warns
A new study by business association Confesercenti estimates that 30–60 days of intense heat per year drains between €6 billion and €12 billion from the Italian economy, equal to 0.2–0.4% of GDP, through higher energy bills, lost productivity, and forced investments.
Irish government to outline €8.5bn budget framework with €1.5bn earmarked for tax cuts
Tánaiste Simon Harris and minister Jack Chambers will present the Summer Economic Statement to Cabinet on Wednesday, formally launching the Budget 2027 process ahead of its October 6 announcement.
Chile Senate passes Kast's economic reform 26-24, bill returns to Chamber of Deputies for final review
The bill, which cuts corporate tax and offers investment guarantees, now goes to the Chamber of Deputies for a final vote as the opposition vows a constitutional challenge.
China's economic growth slows to 4.3% in Q2, missing forecasts as exports surge and domestic demand falters
The world's second-largest economy expanded at its weakest pace since late 2022, as a property slump and weak consumer confidence offset a 27% surge in June exports.
Athens Stock Exchange jumps 2.08% to 2,500 points as bank stocks rally
The Athens General Index reclaimed the 2,500 level on Tuesday, erasing last week's losses, as bank shares soared following target-price upgrades from Morgan Stanley, Goldman Sachs and HSBC ahead of second-quarter results.
EU population to peak at 453 million in 2029 before entering sustained decline, leaving one in three over 65 by 2050
The European Union's population will reach 453.3 million by 2029 before a historic peacetime decline begins, with the median age climbing from 44.9 years to 51.5 by 2100 and the old-age dependency ratio set to double.
Spain's tax competitiveness slides to 34th in OECD as fiscal pressure runs 17% above EU average, business lobby warns
The IEE report, anchored on Tax Foundation data, finds Spain dropped five places since 2018 and now scores 57.9 out of 100, while household and corporate tax effort exceeds the European average by double digits.
Thuringia's CDU rejects property tax hike after €40m shortfall, calling low rate a family relief package
The state's Christian Democrats are holding the line on a 2024 cut that trimmed the real-estate transfer tax to 5%, even as the finance ministry tallies a roughly €40 million annual revenue loss.
UK borrowed £16bn in June, undershooting forecasts, but first-quarter deficit overshoots by £2.7bn
Britain borrowed £16 billion in June, a third less than a year earlier, but the first-quarter deficit of £57.6 billion exceeded official forecasts by £2.7 billion, underscoring the fiscal challenge for new Prime Minister Andy Burnham.
German airfares jump 8.5% in first half of 2026 as kerosene costs bite
International flights from Germany cost 8.5% more in the first half of 2026, driven by expensive kerosene after the Strait of Hormuz blockade. Package tours rose more moderately at 3%.
NBP projects Polish inflation falling to 2.2% by 2028, GDP growth at 3.7% this year
Poland's central bank released its July projection on Friday, showing CPI declining from 2.9% at end-2026 to 2.2% by end-2028, while GDP expands 3.7% in 2026 before cooling.
New Zealand Q2 inflation hits 4.1% y/y, topping forecasts as fuel costs surge
Consumer prices rose 1.5% quarter-on-quarter, driven by surging fuel costs, deepening fears that the Reserve Bank will need to raise interest rates significantly.
German construction prices jump 5% in May, fastest since 2023, as Iran war drives material costs higher
The price of new conventional residential buildings climbed 5% year-on-year in May, accelerating from 3.3% in February and reaching the steepest increase since summer 2023. The Federal Statistical Office cited military escalation in the Middle East as a fresh cost driver on top of earlier Ukraine-related pressures.
US inflation drops to 3.5% in June as ceasefire cools energy prices, but renewed Iran strikes threaten reversal
Consumer prices fell 0.4% month-on-month, the largest decline since April 2020, driven by a 9.7% drop in gasoline costs after the temporary truce with Iran reopened the Strait of Hormuz.
China exports jump 27% in June, car shipments top one million, while oil imports hit decade low
Exports climbed 27% year-on-year in dollar terms, far above forecasts, while imports jumped 36%. Crude oil imports, however, fell to their lowest since October 2016 as the Iran conflict and weak domestic demand hammered refinery runs.
German coalition plans sharper tobacco tax hike, pushing cigarette packs toward €12 by 2030
The black-red coalition wants to raise the tobacco tax more steeply than the cabinet decided last week, adding roughly 40 cents per pack and targeting €4.4 billion in extra annual revenue by 2030.
Spain's fiscal watchdog demands over 10 billion euros in spending cuts to meet 2026 national rule
The independent authority warned that without immediate measures, Spain risks breaching its national spending limit, with the central government and most regions overshooting targets.
Italian household wealth nears 6,500 billion euros, up 1,600 billion since 2020 as families shift from cash to equities
The financial wealth of Italian families has grown by over 1,600 billion euros since 2020, reaching nearly 6,500 billion, according to a Fabi report. Equities led the expansion, while the share held in current accounts and deposits grew at a slower pace.