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29th Mar 2024

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UK inflation 'may hit 18.6%'

Inflation in the UK may hit 18.6 percent next year, the Financial Times reported, on the back of surging wholesale gas prices from the war in Ukraine. The Citigroup bank's report came as UK next-day delivery prices rose 33 percent. The Bank of England has already predicted inflation will reach 13 percent. Pressure is increasing on the two UK PM candidates to do more to address the cost-of-living crisis.

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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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