Another Europe News
Euro inflation eases, unemployment at new record – economy
http://www.euronews.com/ The financial markets are more and more expecting an interest rate cut by the European Central Bank at their meeting this week as inflation in the eurozone fell to a three-year low in April and unemployment hit a new record.
Cutting interest rates would show investors the ECB is concerned about the poor state of the region’s economy.
In April the rate of increase in the cost of living was up 1.2 percent compared with the same month last year.
That means it was well below the ECB’s target of close to, but below 2.0 percent, raising pressure on the central bank to act to aid growth.
According to a poll of economists carried out last week by Reuters, a narrow majority of them expect a 0.25 percent interest rate cut on Thursday at the ECB’s monthly policy meeting in Bratislava.
That would take the bank’s benchmark rate to a record low of 0.5 percent.
“It’s a close call, but we expect a rate cut this week,” said Sarah Hewin, a senior economist at Standard Chartered Bank.
“With inflation weaker than expected, unemployment rising yet again and signs of a longer recession, it would be a confidence boost,” she said.
Low inflation reflects an economy stuck in recession, as do the latest eurozone unemployment numbers.
In March 19.2 million people were without jobs – the highest level since the eurozone’s creation in 1999.
The overal total is 12.1 percent of the workforce – while nearly one in four young Europeans are unemployed.
The grim total calls into question the ECB’s forecast that the economy will show signs of recovery in the second half of the year.
Increasing numbers of economists and politicians are complaining that austerity creates a damaging cycle where governments cut back, companies lay off staff, Europeans buy less and young people have little hope of finding employment.
But a modest interest rate cut is unlikely to be a game-changer.
Borrowing costs are already low, if you fear losing your job, you are not likely to borrow, and banks are in any case reluctant to lend to indebted households and to companies struggling to sell their goods.
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Another Europe News
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Germany and Japan strengthen economic ties as global tensions rise
German Chancellor Friedrich Merz and Japanese PM Sanae Takaichi agreed in Tokyo on Wednesday to deepen cooperation on economic security and high tech. It is Merz’s first visit to Japan since taking office in May 2025.
READ MORE : http://www.euronews.com/2026/10/28/germany-and-japan-strengthen-economic-ties-as-global-tensions-rise
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Italy is waiting expectantly for president Giorgio Napolitano to announce whether or not Matteo Renzi is the right choice for prime minister.
Although reactions to former PM Enrico Letta’s resignation are mixed, many people have spoken out about the need to speedily settle the country’s political situation.
“We hope Renzi will be able to impose from the beginning the the change of pace he demanded of Letta,” said one resident of Rome.
“The country needs it and further loss of credibility wit…
READ MORE : http://www.euronews.com/2014/02/16/high-hopes-for-a-stronger-government-in-italy
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“If young people don’t have a roof over their heads, they can’t start a family. It’s an emergency.”
EU Commissioner Dan Jørgensen tells #EuropeToday that the continent has to “act” to solve its housing crisis after the bloc unveiled measures to curb short-term rentals.
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Was Ursula von der Leyen’s State of the European Union speech a vision for the future of Europe, or a shopping list of promises?
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