Europe, Interest Rate | featured news

The data is likely to put pressure on the European Central Bank to cut interest rates at its next meeting.

Financial markets will still be waiting to see whether the bank’s president, Mario Draghi, has other moves in mind.

The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate... The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate.

The European Commission seized documents from several major banks on Tuesday, marking the intensification of a world-wide law-enforcement probe into how key interest rates are set, the Wall Street Journal said, citing people familiar with the situation.