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EU news monthly: October

ANO party has won parliamentary elections in the Czech Republic. ANO received just under 35% of the vote, earning them 80 seats.

French President Emmanuel Macron has named Minister of Defence Sébastien LeCornu as France’s new prime minister. Howeever France's Prime Minister Sébastien Lecornu has resigned, less than a day after his cabinet was unveiled.

EU annual inflation was 2.4% in August 2025, stable compared to July. A year earlier, the rate was 2.4%.

In the second quarter of 2025, 54.0% of net electricity generated in the EU came from renewable energy sources, an increase from the 52.7% registered in the same quarter of 2024.

The share of full electric cars in 2024 was 16% for EU car imports and 12% for exports (1% and 0.8% in 2017). Plug-in hybrid cars represented 6% of car imports last year and 5% of car exports (0.6% and 1% in 2017), and the share of non-plug-in hybrid cars was 21% for imports and 11% for exports (6% and 0.4% in 2017).

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Erste Bank Research Team

Erste Bank

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Editor's Picks

EUR/USD eases toward 1.1600 amid renewed US Dollar buying

EUR/USD is turning lower toward 1.1600 in the European session on Friday. The softer risk tone lifts the haven demand for the US Dollar, weighing on pair. Eurozone GDP second estimate confirmed with the preliminary reading of 0.2% in the third quarter, having little to no impact on the Euro.

GBP/USD holds losses around 1.3150 on UK fiscal concerns

GBP/USD is off the lows, still deep in the red near 1.3150 in European trading on Friday. The pair declines as the Pound Sterling faces headwinds from rising concerns over fiscal discipline and political stability in the UK. Late Thursday, PM Starmer and Finance Minister Reeves dropped the plan to raise income tax rates.

Gold remains below $4,200 as bulls seem non-committed amid reduced Fed rate cut bets

Gold rebounds slightly from the daily low and trades with a mild positive bias during the first half of the European session on Friday, though it remains below the $4,200 mark. A growing number of Federal Reserve policymakers signaled caution on further easing amid the lack of economic data, prompting traders to trim their bets for another rate cut in December.

Bitcoin, Ethereum and Ripple flash deeper downside risks as market selloff intensifies

Bitcoin, Ethereum and Ripple trade in red on Friday after correcting more than 5%, 10% and 2%, respectively, so far this week. BTC has slipped below the $100,000 key level, while ETH and XRP have faced rejection at their resistance levels, signaling that bears remain firmly in control and that a deeper correction may be underway.

How soon is the BoJ likely to resume interest rate hikes?

The Bank of Japan once again finds itself walking a tightrope between political pressure, economic data, and market expectations. With interest rates still anchored at 0.5%, speculation is growing over when Governor Ueda will pull the trigger on the next hike.

Solana Price Forecast: SOL tumbles to five-month low as ETF inflows and sentiment weaken

Solana (SOL) marks the third consecutive week of losses, dropping over 13% so far this week. The two-week-old Solana spot Exchange Traded Funds (ETFs) in the US have recorded the lowest net inflows ever, suggesting softer institutional demand.