The ECB has unveiled a new crisis-fighting tool to counter an "unwarranted" jump in borrowing costs for more indebted eurozone governments as it hikes its interest rates for the first time in over a decade.
Inflation has surged back to levels not seen in many developed economies since the 1970s and 1980s. Economists and central bankers at the European Cental Bank's conference in Portugal warn it will take time before price rises cool.
The Ukraine war has major economic consequences for energy, food, inflation and poverty, according to the European Bank for Reconstruction and Development. The EBRD's chief economist spoke to AFP about the fallout from Russia's invasion