inflation
The Swiss National Bank announced on Thursday morning that it would be cutting interest rates to 1.25%, a further decrease of 25 basis points. This is mainly due to the central bank anticipating that although inflation did increase slightly in April, coming up to 1.4% in May, it is now expected to come down to about 1.3% for the rest of the year, as inflationary pressures reduce. Furthermore, if interest rates remain constant at 1.25%, the central bank also conditionally expects inflation in 2025 to touch 1.1% and in 2026 to come down once more to 1%. Regarding their interest rate decision tod...
Euronews (English)
Bank of England on Thursday kept interest rates unchanged at 5.25%. This is the seventh consecutive meeting at which the central bank has held interest rates steady. In a statement, BoE stated: At this meeting, the Committee voted to maintain Bank Rate at 5.25%. Headline CPI inflation has fallen back to the 2% target. The restrictive stance of monetary policy is weighing on activity in the real economy, is leading to a looser labour market and is bearing down on inflationary pressures. Key indicators of inflation persistence have continued to moderate, although they remain elevated. Monetary p...
Invezz
Norway's central bank has held its base rate at 4.5%, keeping borrowing costs at their highest level since 2008. The committee cited concerns about robust wage growth, which could continue to put upward pressure on inflation. "Since the last report, price inflation has been slightly lower than forecast, while unemployment has increased as expected," said the bank in a statement. "On the other hand, the companies in our regional network are reporting better prospects, and wage growth looks set to be higher than we previously envisioned. This may indicate that price growth will be higher in the ...
Euronews (English)
Das Ifo-Institut hat seine Prognose für das Wirtschaftswachstum in Deutschland im laufenden Jahr von 0,2 auf 0,4 Prozent angehoben. Die Kaufkraft der privaten Haushalte steige, der Export dürfte anziehen: «Die deutsche Wirtschaft arbeitet sich langsam aus der Krise», sagte Ifo-Konjunkturchef Timo Wollmershäuser in Berlin. Die Wirtschaftspolitik der Bundesregierung trage allerdings zur Verunsicherung der Konsumenten und Investoren bei. Die Löhne stiegen, die Inflation dürfte dieses Jahr weiter abflauen auf 2,2 Prozent. Damit könnte der zu Jahresanfang sogar rückläufige Konsum der privaten Haush...
DPA (German)
The German year-on-year producer price index (PPI) report for May was released on Thursday morning, coming in at -2.2%, up from April’s -3.3%, according to the Federal Statistical Office. However, this was still slightly higher than analyst expectations of -2%. The producer price index looks at inflation at a wholesale level, by comparing how the prices that domestic manufacturers receive for their products changes over time. May’s figure marked the 11th month in a row that producer prices had declined, however, it was still the lowest number during this period. This was mainly due to energy p...
Euronews (English)
The Swedish unemployment rate in May was released on Wednesday morning, coming in at 8.7%, down from 8.9% in April, according to Statistic Sweden. This was also a three-month low. However, it was still a jump from May 2023’s 7.9%. The number of people without a job increased to 496,000, a rise of 41,000. On the other hand, the number of people with jobs fell to 5.187 million, a decline of 112,000. The employment rate for May 2024 was 68.3%, which was a fall of 1.5%. The labour force rate, which measures the number of employed people, as a percentage of the number of people falling within the w...
Euronews (English)
The annual inflation rate in the UK reached the Bank of England’s (BoE) target of 2% in May, according to a report released by the Office for National Statistics (ONS) on Wednesday. This figure aligns with expectations and marks a decrease from April’s rate of 2.3%. The data highlights a significant easing in inflationary pressures, bringing some relief to consumers and policymakers alike. Key factors influencing inflation ratesThe ONS report identifies food prices as the primary factor contributing to the decline in both the Consumer Prices Index including owner occupiers’ housing costs (CPIH...
Invezz
Despite a rate reduction by the European Central Bank, the Bank of England (BoE) is widely expected to keep the policy rate at 5.25% on Thursday, although inflation in the UK eased to the 2% target level in May. The bank is likely to maintain a cautious tone on the rate trajectory and signal that a rate cut may be on the horizon later this year, possibly in August, according to Reuter's consensus. The economic trajectory may encourage an August cutRecent economic data showed that the UK's economy has slightly improved, with first-quarter GDP growth rising to 0.6% from a 0.3% contraction in the...
Euronews (English)
By Véronique DUPONT Londres (AFP) - L'inflation britannique a ralenti à 2% sur un an en mai, pour la première fois depuis près de trois ans, retrouvant l'objectif de la Banque d'Angleterre et apportant une bonne nouvelle au gouvernement conservateur en campagne en vue des élections législatives. En avril, la hausse des prix atteignait 2,3%, a précisé l'Office national des statistiques (ONS) dans son rapport mensuel sur l'inflation publié mercredi. L'inflation avait grimpé jusqu'à plus de 11% fin 2022, générant une forte crise du pouvoir d'achat au Royaume-Uni. Le ralentissement des prix de l'a...
AFP (Français)
This marks the lowest annual change in the consumer price index since July 2021, aligning with analysts' forecasts. On a monthly basis, inflation increased by 0.3% in May 2024, consistent with April 2024 but slightly below economist expectations. The UK's CPI inflation rate was lower than France (2.6%), Germany (2.8%), and the EU average (2.7%), and matched the US (2.0%) in the 12 months to May 2024. The decline in annual inflation rates in May 2024 was driven by reductions in food and non-alcoholic beverages, recreation and culture, and furniture and household goods. However, transport and co...
Euronews (English)
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