However, it downgraded its estimates for 2023 as it predicts that the Eurozone will enter a technical recession in the fourth quarter of 2022 and into the first quarter of 2023. Her Eleftherias Kourtalis Bank of America upgraded its estimates for growth in Greece and the Eurozone this year, due to strong tourism, while downgrading […]
Tag: Inflation
ECB survey: Consumers expect further increase in inflation
Consumers do not see an easing of inflationary pressures, instead expecting further strengthening in the long term, according to the results of the European Central Bank’s latest survey of consumer expectations. Average inflation expectations over the next 12 months were unchanged at 5.0%, while for the next three years they rose to 3.0% from 2.8% […]
ECB Survey: European consumers see inflation for the next 12 months at 5%.
The European Central Bank (ECB) carried out a survey on consumer expectations regarding inflation, the main results of which are indicated below. Perceived inflation over the previous 12 months continued to rise, with the average rate now standing at 7.9%, up from 7.2% in June. Compared to the month of June, consumer expectations for inflation […]
Despite the increase in spreads in the Ministry of Finance, they see a large reduction in debt
By Tasos Dasopoulos The estimate that inflation will jump this year to 8.5-9% on an annual basis does not only have the known negative consequences. If it is combined with the fact that growth will touch – if not exceed – 5%, it may result in a record reduction of debt at the end of […]
The residents of Istanbul are in despair: Inflation in the city is at 99.9%
Inflation in Turkey’s biggest city, Istanbul, accelerated to 99.9% last month, according to the city’s main business association. Annual price increases jumped from 91.1% in July, according to the Istanbul Chamber of Commerce (İTO) in its price index published on Thursday. On a monthly basis, the price rose 2.29%, it said. Istanbul inflation is traditionally […]
Pictet: Deep recession in the winter in the Eurozone with double-digit inflation – Triple the cost of energy
Her Eleftherias Kourtalis Pictet Wealth Management is revising its eurozone GDP forecast due to a further worsening of the energy shock and a deeper recession to hit in the winter. It now expects growth to slow from 2.9% in 2022 to 0% in 2023, while estimating that we have yet to see the peak in […]
Switzerland: Inflation at a three-decade high at 3.5%
Inflation also accelerated in Switzerland in August, under the burden of rising energy costs worldwide caused by Russia’s invasion of Ukraine. In particular, prices in Switzerland rose at an annual rate of 3.5% in August, accelerating from 3.4% in July which was already the highest level in three decades. Adjusted to the European Union’s measurement […]
Forex today: The dollar remains victorious for another month
What to watch for on Thursday, September 1: The US dollar ended the month of August with substantial gains across the currency board. On Wednesday, it rose against most of its major rivals, although the EUR/USD pair advanced for the third day in a row and traded around 1.0050. The EU’s Harmonized Index of Consumer […]
Euromarkets: Sharp losses and closing at lows of the day with a focus on inflation
The main European indices finished trading with significant losses, in the shadow of the new inflationary record that appears to be leading to a gigantic increase in ECB interest rates. In particular, the pan-European index Stoxx 600 completed on 415.12 units with a fall 1.1% and close near the day’s low, with pressures starting when […]
Meister (Fed): Over 4% interest rates in early 2023
Federal Reserve Bank member and Cleveland Fed President Loretta Mester said she expects rates to rise significantly before the Fed eases its fight against inflation. Specifically, Ms Mester said she sees interest rates rising above 4% in the coming months. As a reminder, the range of the federal funds rate, which determines what banks charge […]