EU Economics Adjust to Future

Andamento del mercato - 31/08/2016

To raise the inflation rate for the Euro Area, the European Central Bank appears to carry a heavy burden on its shoulders as it tries to meet its mandate. Preliminary yearly results published by the European Statistics office indicate that consumer prices have remained stagnant in August, keeping level at 0.20% while failing to meet consensus figures of 0.30%. The values still remain far from the ECB’s target of of 2.00% but with a gradually growing economic bloc and decelerating unemployment, inflation could be achieved sooner than the central bank expects as regarded by economists. Unemployment was also announced to have not budged from July’s figures remaining at 10.10%, a relatively high number for Europe but pointing towards a retreat that gradually will lift higher the bloc’s Gross Domestic Product. Germany, France, Italy and Spain, the biggest economies in the Euro zone, all reported positive figures in inflation.

 

Low inflation had so far forced the ECB to cut interest rates to the lowest in its history while at the same time imposing a reinforced quantitative easing program in both government and non-bank corporate bonds in March. Bank officials may have to once again intervene as soon as their next meeting on the 8th of September as they prepare to announce the central bank’s monetary policy where it is expected that the main focus for the bank will be the aftereffects of the UK referendum, who voted to leave the EU, over the bloc as well as a continued rise of the inflation rate. The Euro gained in strength against its major peers while reaching a modest price of 1.1148 against the US dollar on the release for inflation data.

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