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Illumination at ECB headquarters for the Euro's 20th anniversary in Frankfurt, Germany

ECB policymakers make the case for a big rate hike

European Central Bank policymakers made the case on Saturday for a large interest rate hike next month as inflation remains uncomfortably high and the public may be losing trust in the bank's inflation-fighting credentials.
A shopping cart is seen in a supermarket as inflation affected consumer prices in Manhattan, New York City

World at rising risk of recession as inflation hits consumers

The global economy is increasingly at risk of sliding into recession, surveys showed on Tuesday, as consumers faced with generation-high inflation rein in spending while central banks are tightening policy aggressively just when support is needed.
A man is silhouetted as he walks in front of a monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average in Tokyo, Japan

Europe's energy woes haunt euro, Asian stocks

Asian shares were down for a sixth straight session on Tuesday after a renewed spike in European energy prices stoked fears of recession and pushed bond yields higher, while tipping the euro to 20-year lows.
A person looks at food goods in a shop in London

UK inflation tops 10%, highest since 1982

British consumer price inflation jumped to 10.1% in July, its highest since February 1982, up from an annual rate of 9.4% in June, intensifying the squeeze on households, official figures showed on Wednesday.