ECB keeps rates on hold, warns of Iran war hit

The Bank of England and the European Central Bank both held interest rates steady today.

The Bank of England and the European Central Bank both maintained their current interest rates today.

PCE inflation hits 3.5% in March, highest since May 2023, when Fed was raising rates. Core PCE inflation at 3.2%, highest since Nov. 2023.

PCE inflation was 3.5% in March, the highest since May 2023, when the Fed was raising rates. Core PCE inflation was 3.2%, the highest since Nov. 2023, when the Fed still had a hiking bias.

UN chief Guterres warns Middle East crisis pushing global economy to recession. Disruption in Strait of Hormuz is choking vital artery, he says.

UN Secretary-General Antonio Guterres warned Thursday that the Middle East crisis is pushing the global economy toward recession, saying disruption in the Strait of Hormuz is choking a vital artery.

The European Central Bank Governing Council keeps interest rates unchanged. President Christine Lagarde says incoming data will guide future policy to bring inflation to the 2% target.

The European Central Bank Governing Council has decided to maintain current interest rates. President Christine Lagarde stated that upcoming data will guide future decisions to ensure inflation reaches the 2% target in the medium term.