ECB rejected even token change in policy message at Jan meeting -minutes

European Central Bank policymakers meeting last month rejected even a token change in the bank’s policy message, arguing that it was premature to signal policy normalisation given weak inflation, the minutes of the meeting showed on Thursday. Discussion over tweaking the bank’s stance could still start early this year, concluded the ECB’s Governing Council, which […]

Germany Flexes Financial Muscle in Push for EU ‘Solidarity’

German Chancellor Angela Merkel’s government called for a fundamental overhaul of European Union finances as Britain’s exit from the 28-nation bloc is about to tear a hole in the group’s 140 billion-euro ($172 billion) annual budget. With a major net contributor set to leave the union next year and populist movements gnawing at the bloc’s […]

Barclays takes £127m hit from Carillion collapse

The collapse of outsourcing giant Carillion has cost Barclays £127m. The charge was one of a number of hefty one-off costs contained in Barclays’ latest results. Last year, the bank lost £2.5bn related to the sale of Barclays Africa Group and a £900m charge related to changes in US tax rules. Including those costs the […]

UK Retail Sales Growth Slows: CBI

UK retail sales growth slowed for the third month in a row in the year to February, the latest Quarterly Distributive Trades Survey from the Confederation of British Industry showed Thursday. The retail sales balance fell to 8 percent in February, which was below the expected level of 14 percent. Nonetheless, a balance of 21 […]

Italy’s Inflation Steady At 0.9%

Italy’s inflation remained stable in January, final data from the statistical office Istat showed Thursday. Consumer prices climbed 0.9 percent year-on-year in January, the same rate as seen in December. The flash estimate was 0.8 percent. Month-on-month, consumer prices gained 0.3 percent in January instead of 0.2 percent estimated previously. The harmonized index of consumer […]

Ifo says euphoria gone but German economy still humming

German companies are less euphoric about the economy than in the last few months but it is too early to talk about a fundamental shift, Ifo economist Klaus Wohlrabe said after a fall in the institute’s business confidence index. “I would not yet speak of a change in the underlying trend, the German economy is […]