The Bank of Russia reduced its benchmark interest rate by a quarter basis points on Friday, marking the ninth consecutive cut as inflation stays above the target. The Board of Directors decided to cut the key rate to 14.25 percent from 14.50 percent, the Russian central bank said. Markets had anticipated a 50 basis-point reduction.
Turkey's manufacturing capacity utilization rate increased further in June to the highest level in one year, while factory confidence remained more positive. The capacity utilization rate rose to 74.5 percent in June from 74.2 percent in the previous month. Moreover, this was the highest level since June 2025. The manufacturing confidence rose to a 4-month high of 103.5 in June from 103.3 in May.
Consumers in Slovenia remained less pessimistic in May, and the confidence strengthened to the highest level more than four-and-a-half years. The consumer sentiment index rose to -20 in May from -27 in April. Moreover, a similar reading was last seen in August 2021. Expectations regarding the general economic situation of the country over the next year strengthened notably to -20 from -35.
Greece's current account deficit decreased in April from a year ago, mainly due to improvements in the balance of goods and the secondary income account. The current account showed a deficit of EUR 1.4 billion in April, down from 2.3 billion in the corresponding month last year. The goods trade deficit narrowed to EUR 2.3 billion from EUR 2.9 billion as exports grew faster than imports.
Germany's producer prices increased at the fastest pace in three years in May, Destatis reported Friday. Producer prices grew 2.2 percent year-on-year in May, faster than the 1.7 percent rise seen in April. Prices grew the most since May 2023. Nonetheless, the pace of increase was slower than forecast...
UK retail sales rebounded in May as promotions and the hot weather drove consumer spending data, from the Office for National Statistics showed Friday. Retail sales grew by more-than-expected 1.2 percent on a monthly basis in May, in contrast to April's 1.0 percent fall. Sales were forecast to climb 0.5 percent. Excluding auto fuel sales, retail sales moved up 1.2 percent.
Italy's construction output increased for the second successive month in April. Construction production rose 0.3 percent month-on-month in April, though slower than the 1.9 percent strong recovery in March. The annual outcome was also an expansion of 2.7 percent versus a 3.0 percent growth in the prior month.
Poland's industrial production growth rebounded unexpectedly in May. Industrial production advanced 4.1 percent year-over-year in May, faster than the revised 2.9 percent growth in the prior month. The upturn in May was mainly supported by a 32.6 percent growth in mining and quarrying output and a 13.7 percent expansion in the utility segment.
The UK budget deficit widened more than officially estimated in May, data published by the Office for National Statistics showed Friday. Public sector net borrowing rose to GBP 23.3 billion from GBP 17.9 billion in the previous month. This was the second highest borrowing in any May on record....
Retail sales and public sector finances from the UK and monetary policy decision from Russia are due on Friday. At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector net borrowing figures.
Norway's central bank left its key interest rate unchanged on Thursday but hinted at a rate hike in one of the future sessions to bring the high inflation back to target. The Monetary Policy and Financial Stability Committee decided to keep the policy rate unchanged at 4.25 percent at its meeting on June 17, the Norges Bank said in a statement.
The Bank of England left its key interest rate unchanged on Thursday as inflation slowed unexpectedly and unemployment declined, and the US-Iran peace deal lowered the upside risks to inflation. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 7-2 to hold the bank rate at 3.75 percent, which is the lowest rate since June 2023.
The Swiss National Bank left its policy rate unchanged on Thursday as inflation continues to remain well within the target. The central bank left its policy rate at zero percent, in line with market expectations. The SNB had lowered the key rate by 175 basis points since March 2024.
The Bank of England left its key interest rate unchanged, as widely expected, on Thursday. The Monetary Policy Committee governed by Andrew Bailey, voted 7-2 to hold the bank rate at 3.75 percent. The current rate remains the lowest since June 2023. Previously, the central bank had reduced the...
Switzerland's foreign trade surplus grew in April as exports grew faster than imports. The trade surplus rose to CHF 5.64 billion in May from CHF 3.28 billion in April. In nominal terms, exports expanded sharply by 13.4 percent monthly in May, while imports were only 3.4 percent higher. Exports of chemicals and pharmaceutical products advanced 25.7 percent.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.