Euro zone finance ministers have agreed in principle to extend Greece's financial rescue by four months, averting a potential cash crunch in March that could have forced the country out of the currency area.
The deal, to be ra
Euro zone finance ministers agreed in principle on Friday to extend Greece's financial rescue by four months, averting a potential cash crunch in March that could have forced the country out of the currency area.
The deal, to
Euro zone consumer prices fell at a record-equalling pace in January, more steeply than expected and supporting the backers of the European Central Bank's (ECB) money-printing plan to combat sustained deflation.
The European s
Euro zone business growth eased in May and firms cut prices for the 26th straight month, a survey showed, likely underpinning expectations for the European Central Bank (ECB) to loosen policy today.
While output across the region
The euro fell to a three-month low against the dollar and a 17-month trough against the pound on Friday after a disappointing report on German business sentiment supported the view the European Central Bank will cut interest rates next month.
Ratings agencies gave a broadly upbeat assessment of the euro zone's creditworthiness yesterday, contrasting sharply with reviews of recent years and reflecting growing confidence in the region's fiscal and economic recovery.
Major economies in Asia and Europe finished the first quarter on a weaker note, with key manufacturing surveys fuelling expectations policymakers may be forced to act in coming months to prop up faltering growth.
US manufacturing growth was solid in the first quarter and a return to expansion in French business activity this month suggested a recovery was taking shape in the euro zone, though China's factory sector stuttered in the early part of 2014
Manufacturers across Europe and Asia changed down a gear last month as falling demand from abroad hurt Chinese output and European factory growth dipped from January's 2-1/2 year high.
But while the surveys across Asia were mo
Weakness in euro zone price pressures is extending into the medium-term, the time horizon the European Central Bank (ECB) looks at when deciding on policy, ECB policymaker Peter Praet said.
Praet, who holds the powerful economics