After peaking at 10.6 percent in October 2022, inflation in the 20-country Eurozone slowed to 2.2 percent in August, moving down from 2.6 percent in July and nearly reaching the European Central Bank’s 2-percent target.
Tag: European Central Bank
EUROZONE FACTORY ACTIVITY CONTRACTS AS ASIA, U.K. IMPROVE
The Hamburg Commerce Bank’s purchasing managers' index (PMI) for the 20-country Eurozone’s manufacturing industry rated factory activity at 45.8 in August, well below the 50 mark that separates decline from growth.
GERMAN WAGES RISING FASTER THAN AT ANY TIME THIS CENTURY
Germany’s economy may be on the ropes, but workers’ wages there are projected to rise 5.6 percent this year, according to labor agreements negotiated during this year’s first half, labor-oriented research group WSI reported.
INVESTOR CONFIDENCE IN EUROZONE, ESPECIALLY GERMANY, COLLAPSES
In a new ZEW Indicator of Economic Sentiment, investors’ outlook for the Eurozone’s business future plunged 25.8 points to 17.9, the biggest one-month tumble since early in 2020 when the COVID War began.
EUROZONE INFLATION TICKS UP IN JULY
Last month, inflation in the 20-country Eurozone edged up to 2.6 percent after falling to 2.5 percent in June.
ECB FREEZES INTEREST RATE, HINTS AT SEPTEMBER CUT
On 18 July, the governing council of the European Central Bank (ECB) met and left its key interest rate at 3.75 percent, as analysts expected.
EUROPE’S CONSUMERS NOT RESPONDING TO DISCOUNTS
European retailers and manufacturers are discounting consumer goods in an attempt to revive sales but the results are falling short of hopes.
BANK OF ENGLAND LEAVES KEY RATE UNCHANGED
As economists expected, the Bank of England’s (BoE’s) governing committee held its key interest rate at its 16-year high of 5.25 percent, where it has been since August 2023.
EUROZONE BUSINESS ACTIVITY ACCELERATES IN MAY
Business in the 20-country Eurozone was more brisk in May than it has been in a year, the Hamburg Commercial Bank’s purchasing managers index (PMI) showed.
MORE CENTRAL BANKS ARE STOCKPILING DOLLARS
Eighteen percent of central banks expect to increase their supply of U.S. dollars over the next one to two years as the U.S. Federal Reserve is likely to keep its interest rate higher longer than other nations...