Euro zone inflation eased more than expected in May falling from 7% in April down to 6.1% in May. This is the lowest level recorded 15 months the data suggests. Analysts had expected a May reading of 6.3%. Core inflation, excluding energy and food, also fell more than expected, toRead More →
Deutsche Bank’s U.S. listed shares fell 10% in pre-market trading. European stocks came under pro-longed pressure Friday morning as banking sector woes fail to disperse. The DAX and FTSE 100 indices each fall by more than 2% in early morning trade. Central Banks Investors have been assessing the global centralRead More →
The recent inflation increase heaped on even more misery and pressure for the public as interest rates climb yet again in an effort to curb inflation Interest rate up As UK inflationary pressure increased again, as demonstrated recently by the unexpected move up from 10.1% to 10.4% – the BankRead More →
Swiss bank interest rate is now at 1.5% The Swiss National Bank increased its core interest rate by 0.50% taking the basic rate to 1.5%. The rate change is the fourth consecutive hike, in-line with analyst expectations, despite the recent turmoil in Switzerland’s banking sector. Swiss inflation climbed to 3.4%Read More →
Highest food prices since 1977 The cost of living rose unexpectedly again last month as food prices increased at the fastest rate since 1977/78 Alcohol prices in restaurants and pubs also increased, as inflation jumped to 10.4% in February from 10.1% in January year to year Clothing costs, particularly forRead More →
Interest rates up despite bank failures The Federal Reserve on Wednesday increased interest rates by 0.25%, despite the banking turmoil and failure of Silicon Valley Bank. The Federal Reserve expressed caution about the recent banking crisis and indicated that hikes are near the end. It’s all under control – justRead More →
In view of the recent ‘mini banking crisis’ – will the Feds fight with inflation mean U.S. interest rates will still go up this month? Two or three more increases of 0.25%? Markets still expect the Fed to keep up its inflation fight, despite recent bank failures that have unexpectedlyRead More →
Dow down Inflation fears and the growing threat of the Covid-19 delta variant overshadowed strong retail sales data and better than expected earnings reports as the Dow fell after touching 35000 on the day. U.S. indices finish the week in the red The Dow lost nearly 300 points to closeRead More →
Inflation at 2.5% The UK inflation rate hit 2.5% in the year to June, the highest for nearly three years, as the ‘re-opening’ of the UK economy continued. The Consumer Prices Index (CPI) measure of inflation rose from 2.1% in May, the Office for National Statistics (ONS) said, driven byRead More →
‘Ways off’ Jerome Powell – the Fed chair, said in a prepared statement yesterday that they are still a ‘ways off’ from altering policy and he expects inflation to moderate as it is seen as a temporary situation. He said that the economy needs to improve more before the centralRead More →