net_left adver left

Big fall in euro zone inflation offers little help for ECB

Saturday, January 7, 2023
Big fall in euro zone inflation offers little help for ECB © Reuters. FILE PHOTO: The building of the European Central Bank (ECB) is seen amid a fog before the monthly news conference following the ECB's monetary policy meeting in Frankfurt, Germany December 15, 2022. REUTERS/Wolfgang Rattay
let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2974492" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"358":"Equities"};

By Balazs Koranyi and Jan Strupczewski

FRANKFURT/BRUSSELS (Reuters) -Euro zone inflation tumbled last month but underlying price pressures are still rising and economic growth indicators are surprisingly benign, suggesting that the European Central Bank will keep raising interest rates for months to come.

Fighting a historic surge in prices, the ECB has since July increased borrowing costs at its fastest pace on record. It has promised a string of further moves this year to curb inflation that its own economists see staying above its 2% target well into 2025.

Consumer price growth across the 19 countries using the euro slowed to 9.2% in December from 10.1% a month earlier, Eurostat data showed on Friday - well below a Reuters poll forecast of 9.7%, with the decline driven by lower energy prices.

The euro zone has since expanded to 20 nations, with Croatia joining on Jan. 1.

But the headline number masked a more malignant trend, with all key components of core inflation accelerating.

Excluding volatile food and energy prices, inflation picked up to 6.9% from 6.6%, while an even narrower measure that also excludes alcohol and tobacco rose to 5.2% from 5%.

Services and non-energy industrial goods inflation, both watched closely by the ECB to gauge the durability of price growth, accelerated, adding to concerns that inflation is proving more stubborn than expected.

"Rising core inflation means that not much will sway the European Central Bank from the hawkish path it set out late last year," ING economist Bert Colijn said.

MILD RECESSION

A string of other indicators also suggest that the bloc's winter recession will be milder than anticipated, leaving the ECB with more work to do to tame prices.

A key economic sentiment indicator improved more than expected while retail sales data also showed surprising resilience.

Exceptionally mild weather, implying lower consumption of costly energy, will help too, by propping up household spending power and preserving corporate margins.

But that may complicate life for the ECB.

The recession was expected to push up unemployment, naturally dampening price pressures. But employment, already at a record high, is actually going up, not down.

Fiscal support for households is also proving more generous than hoped and this excessive spending is adding to purchasing power, weighing against the ECB's restrictive policies.

"The delayed passthrough of high production costs and a still-strong labour market will sustain core inflation," Riccardo Marcelli Fabiani at Oxford Economics said.

"With core inflation at record levels and likely remaining high over the coming months, we expect the ECB to deliver two 50 basis point hikes in February and March and pause afterwards amid easing inflation and subdued economic trends."

Although inflation may rise again in January, the peak has probably passed and the ECB's focus will start shifting to how quickly it will fall back.

Markets and surveys are beginning to factor in the possibility that price growth will stay longer above 2% and even the ECB's own forecasts, which have proved overly optimistic over the past two years, do not see the bank hitting its target until late 2025.

The problem is that the longer inflation stays high, the more difficult it will be to tame it as firms start adapting their pricing and wage policies, perpetuating price pressures.

That is why the ECB raised rates by a combined 2.5 percentage points last year - mirroring its global peers, even if somewhat later - and promised big hikes in both February and March that are set to take the deposit rate to around 3%.

"We expect the deposit rate to be at 3.25% in the spring, where it is likely to remain for some time thereafter," Commerzbank (ETR:CBKG)'s Ralph Solveen said.

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
30-03-2023 05:43:29 (UTC+7)

EUR/USD

1.0847

+0.0004 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

EUR/USD

1.0847

+0.0004 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

GBP/USD

1.2313

+0.0003 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

USD/JPY

132.65

-0.19 (-0.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

AUD/USD

0.6687

+0.0004 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.3558

+0.0003 (+0.03%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (1)

EUR/JPY

143.88

-0.16 (-0.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (11)

EUR/CHF

0.9961

+0.0003 (+0.03%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (3)

Gold Futures

1,982.35

-0.65 (-0.03%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Silver Futures

23.442

-0.026 (-0.11%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (4)

Sell (2)

Copper Futures

4.0768

-0.0062 (-0.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Crude Oil WTI Futures

72.80

+0.01 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

Brent Oil Futures

77.53

-0.61 (-0.78%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (2)

Natural Gas Futures

2.175

-0.008 (-0.37%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

US Coffee C Futures

170.03

-3.72 (-2.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Euro Stoxx 50

4,231.27

+63.06 (+1.51%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

S&P 500

4,027.81

+56.54 (+1.42%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (3)

DAX

15,328.78

+186.76 (+1.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

FTSE 100

7,564.27

+80.02 (+1.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Hang Seng

20,192.40

+407.75 (+2.06%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (1)

Sell (7)

US Small Cap 2000

1,770.93

+18.30 (+1.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

IBEX 35

9,070.70

+126.40 (+1.41%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

BASF SE NA O.N.

47.180

+0.795 (+1.71%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (3)

Bayer AG NA

57.27

+0.40 (+0.70%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (10)

Allianz SE VNA O.N.

209.35

+3.20 (+1.55%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

Adidas AG

146.42

+5.24 (+3.71%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

Deutsche Lufthansa AG

9.647

+0.206 (+2.18%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Siemens AG Class N

146.30

+2.78 (+1.94%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (10)

Deutsche Bank AG

9.143

+0.221 (+2.48%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

    EUR/USD 1.0847 ↑ Buy  
    GBP/USD 1.2313 ↑ Sell  
    USD/JPY 132.65 ↑ Sell  
    AUD/USD 0.6687 ↑ Buy  
    USD/CAD 1.3558 Buy  
    EUR/JPY 143.88 ↑ Sell  
    EUR/CHF 0.9961 Sell  
    Gold 1,982.35 ↑ Buy  
    Silver 23.442 Neutral  
    Copper 4.0768 ↑ Sell  
    Crude Oil WTI 72.80 ↑ Sell  
    Brent Oil 77.53 ↑ Buy  
    Natural Gas 2.175 ↑ Sell  
    US Coffee C 170.03 ↑ Buy  
    Euro Stoxx 50 4,231.27 ↑ Buy  
    S&P 500 4,027.81 Buy  
    DAX 15,328.78 ↑ Buy  
    FTSE 100 7,564.27 ↑ Buy  
    Hang Seng 20,192.40 Neutral  
    Small Cap 2000 1,770.93 ↑ Sell  
    IBEX 35 9,070.70 ↑ Buy  
    BASF 47.180 ↑ Buy  
    Bayer 57.27 ↑ Sell  
    Allianz 209.35 ↑ Buy  
    Adidas 146.42 ↑ Buy  
    Lufthansa 9.647 ↑ Buy  
    Siemens AG 146.30 ↑ Sell  
    Deutsche Bank AG 9.143 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,645/ 6,685
(0/ 0) # 1,079
SJC HCM6,645/ 6,715
(0/ 0) # 1,110
SJC Hanoi6,645/ 6,717
(0/ 0) # 1,112
SJC Danang6,645/ 6,717
(0/ 0) # 1,112
SJC Nhatrang6,645/ 6,717
(0/ 0) # 1,112
SJC Cantho6,645/ 6,717
(0/ 0) # 1,112
Cập nhật 30-03-2023 05:43:31
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,964.26 -7.71 -0.39%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V23.96024.430
RON 95-III23.03023.490
E5 RON 92-II22.02022.460
DO 0.05S19.30019.680
DO 0,001S-V20.56020.970
Dầu hỏa 2-K19.46019.840
ↂ Giá dầu thô thế giới
WTI $72.89 +0.9 1.22%
Brent $77.38 +0.99 1.27%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.280,0023.650,00
EUR24.773,5226.160,70
GBP28.198,2129.400,59
JPY173,28183,45
KRW15,5818,99
Cập nhật lúc 18:51:25 29/03/2023
Xem bảng tỷ giá hối đoái
adver main right