Stocks surge as Fed leaves US interest rates on hold and promises ‘patience’ – as it happened

Rolling coverage of the latest economic and financial news, as America’s central bank leaves interest rates on hold and strikes a dovish toneLatest: Fed leaves rates on holdWhat’s changedEarlier:UK credit growth hits four-year lowIntroduction: French g…

Read more

ECB to halt €2.6tn stimulus plan despite eurozone slowdown concerns

Growth forecast for currency bloc downgraded due to uncertainty, says Mario DraghiThe European Central Bank will halt its €2.6tn stimulus programme in January despite concerns that the eurozone is poised to slow down over the next couple of years.Mario…

Read more

Macron’s politics look to Blair and Clinton. The backlash was inevitable | Larry Elliott

The French president has cut taxes for the rich but maintained austerity. It’s a failed formulaRioting in the streets. Filling stations running out of fuel. Panic buying in the supermarkets. A country in chaos. Not a dystopian vision of Britain after B…

Read more

EU’s dependence on dollar to be reduced under new proposals

Europe is being affected by the threat of US sanctions on firms that trade with IranPlans to reduce European Union dependence on the US dollar – and so improve the bloc’s ability to run an independent foreign policy that is less exposed to US sanctions…

Read more

Pound tumbles as UK markets suffer Brexit deal volatility

Sterling drops to about $1.27 against the dollar and falls by 1.8% against the euroFollow the latest Brexit news and reaction – live updatesBritain’s financial regulator has been in contact with City firms as a raft of resignations over Theresa May’s B…

Read more

UK economic growth tipped to be slowest in Europe next year

European commission says UK will join Italy at foot of growth league even with a soft BrexitThe UK will sink to the bottom of the European economic growth league next year to join Italy as the slowest-growing economy in the EU, before falling further t…

Read more