“In view of the weak economy and the downward trend in the inflation rate, the ECB is unlikely to raise its key interest rates further next week, and interest rates are also likely to remain unchanged at subsequent meetings. The same applies to the coming year, as underlying inflation is likely to prove stubborn, especially in the services sector.”has deteriorated significantly recently: manufacturing output plummeted in March and has not recovered significantly since then.
“At the same time, the inflation rate has been falling until recently and at 5.3% in August was only half as high as at its peak in October. Although the inflation rate for energy has probably bottomed out, it is likely to come down noticeably in the coming months for food, as the sharp price increases last autumn and winter gradually fall out of the year-on-year comparison.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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