The euro zone’s current account deficit widened in August as soaring energy costs pushed up the bloc’s import bill, data from the European Central Bank showed today. The currency bloc of 19 countries had run a current account surplus for years before Russia’s war in Ukraine. It recorded an adjusted deficit of €26.32 billion in…
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Consumer sentiment improved slightly in October as consumers took some comfort from Government measures introduced in its annual budget to support household spending, a new survey shows today. The Credit Union Consumer Sentiment index climbed to 46.1 in October from 42.1 in September, recovering part of a 11.3-point decline from August. The index was previously…
Consumer sentiment improved slightly in October as consumers took some comfort from Government measures introduced in its annual budget to support household spending, a new survey shows today. The Credit Union Consumer Sentiment index climbed to 46.1 in October from 42.1 in September, recovering part of a 11.3-point decline from August. The index was previously…
Euro zone consumer inflation was marginally lower in September than estimated earlier, data showed today. But euro zone inflation still remained at a record high, underlining market expectations of more interest rate rises before the end of the year. The European Union’s statistics office Eurostat said consumer prices in the 19 countries sharing the euro…
The Government is expected to confirm that its new support scheme aimed at assisting businesses with the rising cost of energy will be extended to include professional firms, when it publishes the Finance Bill today. When the €1.25 billion Temporary Business Energy Support Scheme (TBESS) was announced in last month’s budget, it was originally planned…
The Central Bank looks set to relax its mortgage lending rules when it publishes the outcome of a review of them later this morning. Currently, most house buyers can only borrow up to 3.5 times their income from lenders. However, following a year-long review of the situation, it is expected that the regulator will announce…
The Government has agreed that the concrete levy announced in the Budget will be cut to 5% rather than the 10% announced in the Budget last month. It will also now be introduced in September 2023 rather than next April. The charge will not include pre-cast concrete products in an effort to ensure that jobs…
Oil prices were stable today as the market balanced cuts to OPEC+ production quotas against fears of economic slowdown and lower Chinese fuel demand. Brent crude futures eased by seven cents, or 0.08%, to $91.55 a barrel, while US West Texas Intermediate (WTI) crude futures were down 12 cents, or 0.14%, at $85.34. WTI had…
European new car registrations jumped in September, the second month in a row of growth after 13 months of consecutive decline, data from the region’s carmaker association showed. The number of new vehicles registered in the European Union, Britain and the European Free Trade Association (EFTA) grew by 7.9% on the year to 1,049,926 units,…
The dollar lost ground against sterling and other major peers today as investor sentiment picked up following the UK’s dramatic U-turn over the tax-slashing mini budget that had roiled global markets. The British pound extended gains following a media report that the Bank of England is set to delay quantitative tightening until bond markets calm….