European Central Bank

Five major central banks meet this week at a moment when inflation remains stubbornly above target across the developed world.

The Fed is expected to raise interest rates at its next meeting, and it won’t be alone. The ECB has already raised rates, and Japan is expected to follow suit.

Until the start of the Iran war, most central banks were comfortable holding interest rates steady, or even cutting them. But things are different now.

The interconnectedness of the global economy may force the Fed to eventually follow suit.

The European Union is facing a very different economic situation than the United States, and tariffs play a big role in that.

Inflation has eased in Europe as prices fall for electricity and other items that were affected by supply shortages from the Ukraine war.

The bank, much larger than SVB, found problems in its financial reporting. Its Saudi funders ended support, but Swiss officials may step in.

A lot of investors were betting that the Bank of Japan would join other central banks in hiking rates to beat back inflation.

It’s raised its benchmark deposit rate by 0.75% — to 0.75% — and may raise further. But Europe is also facing recession worries.

As borrowing costs rise across the 19 nations that use the euro, worries about the currency bloc’s stability grow.