Economies in the European Union's east slowed in the third quarter as consumers were hit by spiking energy costs triggered by Russia's war in neighboring Ukraine and soaring interest rates. Economies in the European Union's east slowed in the.
(Bloomberg) Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The world’s leading central banks are finally pushing their interest rates into restrictive territory, causing fears of overkill in financial markets and stoking chatter that policymakers may need to pivot at some point. The Federal Reserve, European Central Bank and most of their peers are set to keep raising borrowing costs aggressively in coming weeks. The faster they go, the more questions will be asked about how far they can squeeze economies before unsettling investors or generating recessions. Already some emerging-market officials are beginning to grumble that the push by developed-economy central banks is causing problems for them by weakening their exchange rates. The complaints may grow this week as central bankers and finance ministers gather in Washington for the International Monetary Fund’s annual meetings. For now, after having failed to predict the inflati
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