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Turkey's central bank raised its overnight lending rate on Tuesday, citing excessive fluctuations in exchange rates that pose upside risks to the inflation outlook. The Monetary Policy Committee, led by Governor Murat Cetinkaya, hiked the marginal funding rate to 9.25 percent from 8.5 percent, the...

Czech economic confidence improved marginally in January after weakening in the previous month, survey data from the Czech Statistical Office showed Tuesday. The economic sentiment indicator rose to 14.7 in January from 14.6 in December. In November, the reading was 14.8. The consumer confidence...

The U.K. budget deficit narrowed at the end of the year, the Office for National Statistics showed Tuesday. Public sector net borrowing, excluding public sector banks, decreased by GBP 0.4 billion from prior year to GBP 6.9 billion in December. The expected level of budget deficit was GBP 6.7 billion. Of...

The euro area private sector continued to maintain a robust pace of expansion in January, flash survey data from IHS Markit showed Tuesday. The composite output index fell slightly to 54.3 in January from 54.4 in December. Economists had expected the index to rise to 54.5. Nonetheless, any reading...

The British government has lost a crucial appeal in the U.K. Supreme Court to trigger Article 50 for exiting the European Union without consulting the Parliament. The U.K. Supreme Court dismissed the government's appeal by a majority of 8 to 3. "In a joint judgment of the majority, the Supreme...

Germany's private sector growth slowed to a 4-month low in January despite strong expansion in manufacturing, flash survey results from IHS Markit revealed Tuesday. The composite output index fell to 54.7 in January from 55.2 in December. However, any reading above 50 indicates expansion in the sector....

France's private sector expanded at the quickest pace in over five-and-a-half years in January, driven by robust growth in services activity, flash data from IHS Markit showed Tuesday. The composite output index climbed to a 67-month high of 53.8 in January from 53.1 in December. A reading above 50...

Finland's producer prices rose for a second straight month in December and the pace of increase quadrupled, mainly due to higher oil prices and increased cost of metal manufacturing, preliminary figures from Statistics Finland showed Tuesday. The producer price index for manufactured products rose...

Finland's unemployment rate dropped sharply in 2016, after three consecutive years of strong increases, preliminary data from Statistics Finland showed Tuesday. The jobless rate for the 15-74 age group fell to 8.8 percent from 9.4 percent in 2015. In 2014, the figure was 8.7 percent. The youth...

Bond purchases by the European Central Bank caused a 6.5 percent devaluation in the euro against the US dollar since 2014 till the end of last year, reports said Monday, citing a Bundesbank study. However, the impact of asset purchases was small, the study added. ECB President Mario Draghi has...

The euro area government debt declined in the third quarter, the European Central Bank said Monday. The government debt to GDP came in at 90.1 percent in the third quarter compared to 91.2 percent in the second quarter. In the same period last year, the government debt was 91.5 percent. At the...

Lithuania's industrial production increased notably in December from a year ago, figures from the Department of Statistics showed Monday. Industrial production advanced a working-day-adjusted 5.2 percent year-over-year in December. On an unadjusted basis, production climbed 6.3 percent. Manufacturing...

Denmark's consumer confidence improved at the start of the year to its highest level in five months, figures from Statistics Denmark showed Monday. The consumer confidence index rose to 4.5 in January from -0.3 in December. This was the highest reading since August 2015, when it marked 4.8. Households'...

Switzerland's money supply grew at the fastest pace since late 2014, the Swiss National Bank reported Monday. M3 growth accelerated to 3 percent from 1.8 percent in November. This was the fastest since December 2014. At the same time, the annual growth in the narrow measure M1 advanced to 6.1 percent...

Eyitemclub-012317.jpg The U.K. economy is set to undergo a fairly gradual dip and recover over the coming four years as the country is set to initiate steps to leave the EU this year. According to the EY ITEM Club winter forecast, released Monday, the economy has to shift its reliance from consumer spending towards exports as households started to contain their expenditure due to rising inflation.

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