Europe's Top Central Banks Take Different Tacks on Inflation
The Bank of England became the first major central bank to raise its benchmark interest rate since the pandemic began, while the ECB said it would phase out an emergency bond-buying program while ramping up other stimulus measures.
Stocks Mixed Amid Decisions From Central Banks
Major central banks took different approaches to the surge in both inflation and Covid-19 infections, following the Federal Reserve's decision to tighten monetary policy.
Jobless Claims Remain Near Decades Low
Initial jobless claims, a proxy for layoffs, inched up by 18,000 to 206,000 for the week ended Dec. 11 from a revised 188,000-the lowest level in 52 years-the week before, the Labor Department said Thursday.
Philly Fed manufacturing index slides in December amid elevated inflation
The Federal Reserve Bank of Philadelphia said Thursday that is gauge of regional business activity fell to 15.4 in December from 39 in the previous month. Any reading above zero indicates improving conditions.
Bank of England Raises Interest Rates to Battle Inflation
The BOE raised its benchmark interest rate to 0.25%, making it the first major central bank to lift borrowing costs since the pandemic began.
New-Home Construction Picked Up Again in November
The seasonally-adjusted annual rate of housing starts rose to roughly 1.68 million in November, its highest level since March.
Turkey's Currency Crisis Escalates After Central Bank Cuts Rates
Turkey's central bank bowed to political pressure to slash interest rates, defying soaring inflation and deepening a currency crisis that has dogged the economy.
Covid-19 Surge Slows European Recovery, but Supply Problems Ease
The rapid spread of Omicron has weakened Europe's economic recovery, but there are signs that the supply blockages that have hobbled factories over recent months are easing.
Eurozone Growth Hit by Covid Surge
The pace of economic growth in the eurozone slowed in December as rising Covid-19 infection rates hit the service sector, offsetting improved manufacturing activity, the latest flash PMIs showed.
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