ECB Governing Council member Joachim Nagel stated today that the decision to cut interest rates yesterday was “logical” given the tendency for inflation to decrease. However, he emphasized that inflation remains “stubborn,” particularly in the services sector. Nagel highlighted that negotiated wages are expected to rise sharply this year and continue strong growth thereafter. He […]
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ECB Governing Council member Olli Rehn suggested today that slowing inflation and weaker growth prospects in Eurozone has provided “more grounds” for another rate cut at the October meeting. Additionally, Rehn pointed to the “prevailing Read more…
Eurozone CPI fell from 2.2% yoy to 1.8% yoy in September, below ECB’s 2% target for the first time since 2021. CPI core (ex-energy, food, alcohol & tobacco), ticked down from 2.8% yoy to 2.7% Read more…
UK manufacturing sector expanded at a slower pace in September, with the PMI finalizing at 51.5, down from 52.5 in August. According to Rob Dobson, Director at S&P Global Market Intelligence, the sector continues to Read more…