Inflation in the 17-nation euro region quickened to 2.6 percent from 2.4 percent in February, the European Union’s statistics office in Luxembourg said today in an initial estimate. That’s the fastest since October 2008 and exceeds the ECB’s 2 percent limit for a fourth month. Economists forecast inflation to hold at 2.4 percent, the median of 32 estimates in a Bloomberg News survey showed.
European Inflation Unexpectedly Accelerates to Fastest Since October 2008
ECB President Jean-Claude Trichet earlier this month called for “strong vigilance” on price increases, signaling that the bank may raise its benchmark interest rate in April from a record low of 1 percent. The German economy, Europe’s largest, has driven the region’s expansion as companies boosted hiring and output, helping offset the impact of surging energy costs and tougher austerity measures in countries such as Spain. Read More...
Czech Policy Makers Say Inflation Is Well Anchored, Demand Weak
The Prague-based Ceska Narodni Banka board voted 5-1 to keep the two-week repurchase rate at 0.75 percent, a quarter- point below the European Central Bank’s main rate, last week. Eva Zamrazilova was the only board member who voted for a quarter-point increase, the minutes posted on the bank’s website today showed. Read More...
Bank Of Portugal Sees Economic Contraction In 2011-12
The Portuguese economy is likely to continue contracting in 2012 after a 1.4% decline in GDP this year, once new budget cutting measures are adopted and implemented, the Bank of Portugal said in its Economic Bulletin, published Tuesday. The bank's official spring forecast actually showed Portuguese GDP eking out a slim 0.3% gain next year after -1.4% in 2011, but the bulletin noted that the forecasts included neither additional deleveraging of the economy nor the impact of significant new measures that would be needed to continue cutting the public deficit. Read More...
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