Sophie Kiderlin

On Thursday, the ECB had revised its gross domestic product expectations for the euro area lower.

"Europe is ready to massively boost its defense spending," European Commission President Ursula von der Leyen said Tuesday.

Economists surveyed by Reuters had been expecting inflation to ease to 2.3% in February.

U.S. President Donald Trump signaled the U.K. could broker a "real trade deal" and escape tariffs.

Both the far-right Alternative fuer Deutschland and the far-left Die Linke saw significant gains and were the most popular parties among young people.

Friedrich Merz has criticized Olaf Scholz on the economy, but experts question if a government led by the Christian Democratic Union would fare much better.

Friedrich Merz, who is poised to become Germany's chancellor in a CDU-led government, has extensive experience as a lawyer and working with major corporations.

The far-right Alternative fuer Deutschland (AfD) is dominating polls in East Germany just weeks before the federal election on Feb. 23.

If tariffs are announced, their effect on the global economy and inflation would need to be looked at, he told CNBC's Steve Sedgwick.

Economists polled by Reuters had expected the January inflation print to come in at 2.4%, unchanged from December.