Image for representation purpose only. | Photo Credit: AP The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the OECD said, adding that fighting inflation should be policymakers’ top priority. National outlooks vary widely, although Britain’s economy is […]
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Inflation hit a new record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia’s war in Ukraine. Economic growth also slowed ahead of what economists fear is a looming recession, largely as a result of those higher prices sapping Europeans’ ability to spend. […]
Continue ReadingDespite high dependence on Russian oil, supply to most European countries has taken a hit Despite high dependence on Russian oil, supply to most European countries has taken a hit In the seven months following Russia’s invasion of Ukraine, the tables have turned. Initially, major financial and commercial sanctions were imposed on Russia by the […]
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“Inflationary pressures were judged to have intensified,” the accounts, released on Thursday, showed “Inflationary pressures were judged to have intensified,” the accounts, released on Thursday, showed European Central Bank policymakers at their meeting last month appeared increasingly concerned that high inflation is getting entrenched and the risk was large enough to warrant a bigger-than-flagged rate […]
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