Hungary, where inflation is rampant, will block gas station prices for three months from Monday so that a liter of petrol and diesel does not cost more than 480 forints (1.31 euros), the government announced today. “We have decided that from November 15 there will be a ceiling on the price of petrol and diesel,” […]
Tag: International financial news
Autumn forecasts Commission: Eurozone growth at 5% in 2021 – What it says about inflation
The Commission for Economy of the European Union predicts continued growth, predicting in its autumn estimates that it will grow by 5% for 2021 in a total of 27 EU countries and 19 of the eurozone. The estimate is 0.2 percentage points higher than the previous summer. In 2022, the impetus from the reopening of […]
The Turkish pound ‘reaches’ 10 against the dollar – Deutsche Bank ‘sees’ interest rate cuts
The Turkish pound continues with the brakes broken, as after the record it set on Wednesday, at 9.85 against the dollar, on Thursday proceeded to record another negative record, reaching 10! The fall of the pound is driven mainly by investors’ concern that the adventurous monetary policy of the Central Bank and Sahab Kavtzioglu, dictated, […]
The growth of the UK economy has slowed
The UK economy lost momentum over the summer as the post-lockdown recovery faded, while persistent supply problems and weaker consumer spending are expected to continue to hold growth for the rest of the year. The economy grew by 1.3% in the third quarter of the year compared to the previous quarter, according to the statistical […]
What about Turkey: Has it surrendered to the pound or does it want to?
Turkey’s central bank cut its policy rate by 200 basis points two weeks ago, shocking the markets, as most analysts expected, at worst, a drop of up to 100 points, while sending the distressed Turkish pound to a new record low and widening the spectrum of deeper economic turmoil in Recep Tayyip Erdogan’s country. The […]
US gas is at a seven-week low
The seven-week low was on Wednesday in U.S. futures contracts, falling 3%, extending the losses of more than 8% recorded in yesterday’s session, as production increased and lower demand for heating is projected next week. In Europe, however, gas prices are rising, erasing the losses of about 6% recorded earlier today. On Tuesday, gas prices […]
Daly (Fed): Inflation will be moderated, patience is required
Federal Reserve Chairman Mary Daly voiced her belief that high inflation would subside as soon as the pandemic subsided, reiterating on Wednesday that it would be “too early” to raise interest rates now or even accelerate market decline. bonds by the US Federal Reserve. “Uncertainty requires us to wait and watch,” Daly said in an […]
New ‘slump’ for Turkish pound: New record at 9.875 against the dollar
The Turkish lira fell 1.3% to a new all-time low on Wednesday as higher-than-expected US inflation extended a series of currency losses driven by worries about early interest rate cuts. With the worst performance in emerging markets this year, the pound fell to 9.875 against the dollar, surpassing the previous record of 9.85, set two […]
Why the ECB is not raising interest rates while seeing inflation
By Leonidas Stergiou “Inflation, inflation, inflation.” inflation, with voices coming mainly from Germany pushing for more drastic measures, at a time when unions are calling for a 4% increase. Inflation may not have been officially on the agenda of the ECB’s two-day conference, which ends today, but it has dominated open panel discussions, official interviews […]
Germany: Inflation at 4.5% in October
Consumer prices in Germany rose sharply in October, confirming preliminary data, Destatis said. Consumer prices stood at 4.5% according to national standards and 4.6% according to EU harmonized standards, both of which are in line with estimates. The rise in inflation is mainly due to the comparison with the lowest prices in 2020. In this […]
