Friday

29th Mar 2024

Ticker

EU cuts eurozone growth forecasts

The European Commission cut its 2022 forecast for eurozone growth largely due to Russia's war in Ukraine. It now predicts growth of 2.6 percent this year for the 19-country currency area. This is slightly less than the 2.7 percent it had forecast in May. Inflation is also revising upwards and is projected to peak at a new record high of 8.4 percent in the third quarter of 2022.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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