Eurozone Inflation Surges, Central Banks Hold Rates

0:00Eurozone inflation jumped to 3% in April, up from 2.6% a month before, mainly because energy prices spikes 10.9%. That's all thanks to crude oil shooting, past $120 a barrel, way up from around $73 before the Iran War kicked. Off on February 28th, growth in the Euro area barely budged, scraping just 0.1% in the first quarter. The war is blocking the straight-of-form moves, choking off about 20% of the world's oil supply from the Persian Gulf, and that's hitting gas. Pumps and jet fuel hard right away. Consumers are feeling the pinch with higher bills, while policy makers at the European Central Bank face a stack of inflation nightmare slow growth mixed with. Rising prices. Inflations now above their 2% target, but they're set to keep the benchmark rate steady at 2% today. Other big banks are in the same boat. The U.S. Federal Reserve, Bank of Japan, and Bank of England all held rates this week,

1:01watching to see of this. Inflation wave fades or digs in deeper. Raising rates could cool prices but slam growth even more. Central banks are playing a cautious, holding the line since June 2025, hoping the shock passes without forcing tough calls that ripple through everyday wallets. I'm Corey with the story, that's your Canada News today update, AI-powered and always