David Mchugh, The Associated Press

David Mchugh is a reporter with The Associated Press, an American not-for-profit news agency headquartered in New York City and founded in 1846.

Economic Indicators

Europe’s economic pain drags on with zero growth at the end of last year

The eurozone grew 0.5% for the full year, while the U.S. grew 2.5%

By David Mchugh, The Associated Press |January 30, 2024

1 min read

Policy

Not so fast on interest rate cuts, says European Central Bank

The bank left its benchmark rate unchanged at a record-high 4%

By David Mchugh, The Associated Press |January 25, 2024

1 min read

Policy

Cutting interest rates too soon in Europe risks progress against inflation, central bank chief says

Sluggish economic growth and the impact of higher interest rates on economic activity have sparked bets on rate cuts

By David Mchugh, The Associated Press |January 17, 2024

1 min read

Policy

ECB keeps key interest rate at record high

Rate cuts aren't around the corner, the European Central Bank suggested

By David Mchugh, The Associated Press |December 14, 2023

1 min read

Economic Indicators

ECB halts rate hikes as war in Middle East casts shadow over economy

The central bank's pause on interest rate increases is the first in more than a year

By David Mchugh, The Associated Press |October 26, 2023

1 min read

Economic Indicators

ECB hikes interest rates and leaves door open to more

The ninth straight increase aims to stamp out painfully high inflation

By David Mchugh, The Associated Press |July 27, 2023

1 min read

Economic Indicators

Top central bankers assert need for higher interest rates to tackle persistent inflation

Despite rate increases, Fed chairman says rates "haven't been restrictive very long"

By David Mchugh, The Associated Press and Christopher Rugaber, The Associated Press |June 28, 2023

1 min read

Economic Indicators

Europe’s interest rates to stay high as long as needed to defeat inflation, central bank chief says

New inflation figures are to be published Friday

By David Mchugh, The Associated Press |June 27, 2023

1 min read

Economic Indicators

ECB hikes rates again and vows more after Fed hits pause

The quarter-point boost is the European Central Bank's eighth straight increase in interest rates

By David Mchugh, The Associated Press |June 15, 2023

1 min read

Economic Indicators

Europe’s economy shrank. For households that are hurting, it’s just numbers

The eurozone had a technical recession, with output dropping in Q4 2022 and Q1 2023

By David Mchugh, The Associated Press and Courtney Bonnell, The Associated Press |June 8, 2023

1 min read

Economic Indicators

European Central Bank chief signals more rate hikes ahead with inflation still ‘strong’

"There is no clear evidence that underlying inflation has peaked," ECB head says

By David Mchugh, The Associated Press |June 5, 2023

1 min read

Economic Indicators

Europe’s economic outlook brightens a little after avoiding recession

Inflation and U.S. bank turmoil still pose challenges

By David Mchugh, The Associated Press |May 15, 2023

1 min read

Economic Indicators

European Central Bank slows pace of rate hikes but vows more

The quarter-point increase comes a day after the Federal Reserve's identical move

By David Mchugh, The Associated Press |May 4, 2023

1 min read

Economic Indicators

Europe’s inflation inches up ahead of interest rate decision

Analysts say the ECB's meeting Thursday could end in a quarter- or half-percentage point rate hike

By David Mchugh, The Associated Press |May 2, 2023

1 min read

Industry

Troubled Silicon Valley Bank acquired by First Citizens

SVB's March 10 collapse in a bank run was the second-largest in U.S. history

By David Mchugh, The Associated Press |March 27, 2023

1 min read

Industry

Credit Suisse deal averted crisis, Swiss central bank says

Swiss National Bank hiked its key interest rate on Thursday

By Jamey Keaten, The Associated Press and David Mchugh, The Associated Press |March 23, 2023

1 min read

Industry

ECB backs big rate hike despite bank chaos

The European Central Bank said it's monitoring current market tensions closely

By David Mchugh, The Associated Press |March 16, 2023

1 min read

Economic Indicators

Europe inflation eases slightly but consumer pain persists

The European Central Bank is expected to raise interest rates again mid-month

By David Mchugh, The Associated Press |March 2, 2023

1 min read

Economic Indicators

EU foresees economy improving, but inflation still painful

Steadier natural gas prices contributed to the improved outlook

By David Mchugh, The Associated Press |February 13, 2023

1 min read

Economic Indicators

ECB hikes rates, vows “we are not done”

The increase comes even as the European economy slows

By David Mchugh, The Associated Press |February 2, 2023

1 min read

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