The European Central Bank should opt for a “big” increase in interest rates in October, according to Governing Council member Martins Kazaks, who said in an interview that subsequent hikes are likely to be smaller.
Lebanon is moving to abandon its currency peg after more than two decades, though the plan depends on approving a long-delayed recovery program.
Risk-off sentiment returned to markets on Thursday as concerns about inflation and the risk of global recession overshadowed the Bank of England’s move to restore calm.
The Bank of England’s debt purchases restored a semblance of calm to global markets. But it didn’t last long.
Spanish inflation eased for a second month and by more than anticipated, slowing to below 10% as electricity, transport and fuel costs declined in the euro zone’s fourth-biggest economy.
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