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View all search resultsEurope's central bankers are leaving an annual getaway with their United States counterparts far from reassured that long-standing norms in global cooperation remain intact and worried that more turmoil is ahead for an already testy relationship with Washington, sources familiar with the discussion said.
Euro zone inflation soared past the European Central Bank's 2 percent target this month as surging oil and gas costs drove up headline prices, but the jump was smaller than expected and core inflation declined, muddying the picture for policymakers.
The European Central Bank raised interest rates for the ninth consecutive time on Thursday and said it was open-minded about further tightening as stubbornly high inflation and recession worries pull policymakers in opposing directions.
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