Former Hungarian finance minister Mihaly Varga took over as central bank governor on Tuesday, pledging an independent policy course amid a strong rebound in inflation and growing threats to economic growth.

President Donald Trump said he has decided to hit the European Union with 25% tariffs, saying EU was formed "to screw the United States." “We have made a decision and we’ll be announcing it very soon,” Trump said during a Cabinet meeting Wednesday.

(CN) — Annual inflation in the eurozone and European Union is drifting away from a 2% goal established by the European Central Bank in 2024. According to a report released Monday by Eurostat, the annual inflation rate climbed to 2.5% in the eurozone in January and 2.8% in the broader European Union.

Eurozone inflation edged down slightly in February to 2.4 percent, reversing a four-month upward trend thanks to a slowdown in energy price increases, official data showed on Monday.

DAX eyes ECB rate decision as inflation concerns persist. Market sentiment shifts with US tariff risks and Fed rate cut expectations.

A top European Union official, who is trying to head off a potential trade conflict, stressed the importance of active engagement and fairness in trade during a four-hour meeting with Trump administration officials on Wednesday.

Bulgaria will ask the European Commission and the European Central Bank for an assessment on whether the Balkan country meets all criteria to join the euro zone in January next year, its finance minister said on Monday.

The Dutch annual rate of inflation rose in February to 3.8%, national statistics agency CBS said on Monday in a flash forecast. In January, inflation fell to 3.3%. Month on month, the consumer price index was up over one percentage point.

(Reuters) - Italian EU-harmonised consumer prices (HICP) fell 0.8% month-on-month in January and were up 1.7% from the year earlier, official statistics agency ISTAT said on Friday, partially revising down preliminary data. The preliminary estimate had pointed to -0.7% month-on-month and +1.7% year-on-year.