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The European Central Bank is ready to leave interest rates unchanged Thursday for the first time in over a year as the Israel-Hamas war spreads even more gloom over already downbeat prospects for Europe's economy. It would be the bank's first meeting with no change after a torrid pace of 10 straight increases dating to July 2022 that pushed its key rate to a record-high 4 per cent. The ECB would join the U.S. Federal Reserve, Bank of England and others in holding borrowing costs steady albeit at the highest levels in years as inflation has eased. In Europe, inflation peaked at a painful 10.6 per cent in October for the 20 countries that use the Euro currency as Russia's war in Ukraine took a toll. Those high prices have been poison for consumer spending, draining household finances with added costs for necessities such as food, heat and electricity. But with inflation now down to 4.3 per cent, analysts expect the ECB to hold off on more hikes during its meeting in Athens. It is on
Legendary England all-rounder Ian Botham has been made a member of the House of Lords of the British Parliament. The 64-year-old Botham, a former captain, was among 36 new peers announced by the government to join the unelected House. Botham, who played 102 Test matches for England between 1977 and 1992, is a prominent Brexit supporter. He was knighted in 2007 in recognition of his services to charity and cricket. He will sit as a crossbench -- independent -- peer. He is the first cricketer to be awarded a peerage since former England women's team captain Rachael Heyhoe-Flint in 2011. David Sheppard, Colin Cowdrey and Learie Constantine were the others who were honoured with House of Lords seats earlier. Botham's most famous moment on the cricket field came in 1981 when he inspired England to a sensational win over Australia in the Ashes. After retirement, he has been involved in charity campaigns, including raising funds for research into leukaemia, besides doing commentary of .