Eurozone

    • Eurozone consumer prices edge to a decade high

      Eurozone consumer prices edge to a decade high

      The European Central Bank announced that the consumer price index of the Eurozone has edged to its highest level in a decade. The bank admitted that it had underestimated the potential risk of price increase in EU. The latest figures may provoke a change in the overall ECB policy aimed at containing inflation at significantly lower levels, Reuters elaborated.

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    • ECB adjusts bond purchases on rising EU economy

      ECB adjusts bond purchases on rising EU economy

      The European Central Bank announced it would revise its bond purchasing programme to take in account the improving EU economic situation. The ECB bond purchasing has been the bank's main tool to support the Eurozone to tackle with the Covid-19 crisis, Reuters elaborated. ECB is more flexible than US FED and can afford to correct monthly its stimulus measures, ECB policymaker and France's central bank governor Francois Villeroy de Galhau said.

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    • ECB tightens rules to counter inflation

      ECB tightens rules to counter inflation

      The European Central Bank will have to tighten its policy as soon as possible despite no-going processes to finance the recovery needs of Member States, ECB policy maker Jens Weidmann told the Welt am Sonntag. The Eurozone countries have accelerated their borrowing to cope with the coronavirus pandemic, potentially leading them to higher debt servicing costs if ECB tightens policy to counter upward pressure on consumer prices, Reuters elaborated.

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    • Italy, Spain push up the Eurozone, CPI tops ECB forecast

      Italy, Spain push up the Eurozone, CPI tops ECB forecast

      The gross domestic product of the 19 nations sharing the euro posted a robust growth in the second quarter of this year driven by rapid economic recovery in Italy and Spain which grew by 2.7% and 2.8%, outpacing the bloc's average 2.0% quarter on quarter. On annual basis the growth was 13.7 percent, Reuters reported, quoting official figures of Eurostat.

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    • ECB sets 2% inflation target

      ECB sets 2% inflation target

      The European Central Bank announced it had set a new inflation target following an18-month strategy review. The new target is set at 2%. This is a retreat from the bank's current policy which targeted to keep rates below that level.

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    •  Eurozone retail sales recover faster than expected

      Eurozone retail sales recover faster than expected

      The retail sector of the Eurozone posted a higher than expected growth in May 2021 after disappointing data for April. The 4.6% monthly surge was mainly due to sales of non food goods, Reuters elaborated. The European Union's statistics office Eurostat confirmed the information and further noted that the increase in May compared with the same month of 2020 reached as high as 9%. Earlier the polled economists agreed to a 4.4% monthly rise and expected 8.2% year-on-year surge.

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    • Eurozone factories boost output as raw materials surge

      Eurozone factories boost output as raw materials surge

      The factory activity of the Eurozone posted a record pace of growth in June but managers warned of record surge in costs of input materials, Reuters reported quoting official EU statistics data. The rise in prices of raw materials proves to be strongest in almost twenty years. During the Covid -19 lockdowns across the EU government restrictions led to a devastating slump in the dominant service sector but the industrial plants largely continued to operate.

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    • Eurozone CPI inches down on expected autumn surge

      Eurozone CPI inches down on expected autumn surge

      The consumer prices in the Eurozone inched down to 1.9% in June after leveling the ECB limit of 2% in May, Reuters reported. The June figures matched the expectations of ECB which further foresee a rise in the consumed prices in the autumn driven by higher costs of commodities and raw materials.

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    • Economic sentiment in Eurozone surges to 21-year-high

      Economic sentiment in Eurozone surges to 21-year-high

      The Economic Sentiment Indicator (ESI) of the Eurozone peaked to a 21-year high in June, fueled by accelerated vaccination and economic reopening in Western countries, Reuters reported. The general recovery was led by restored activity and high demand in service and retail sectors. The European Commission's monthly sentiment survey for the 19 Member States of the Eurozone showed optimism had risen to 117.9 points in June from 114.5 in May, exceeding forecast estimates of 116.5.

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