Earlier today the British Office of National Statistics released the monthly Consumer Price Index (CPI) figures, which preserved their rates as they were the previous month.
Considered to be Britain’s most important inflation data, the CPI figures that were publish today denote higher figures than what expert forecasted, hence the released data might weaken the GBP current stand. Experts noted that the rates remain unchanged from the previous month due to opposite forces; air fares have contributed the rates upwards, while petrol and diesel prices tickled the rates downwards.
German ZEW Summits 3 Year High
The ZEW Economic Sentiment, which serves as Germany’s leading gauge for economic health, denotes a positive forecast for the German economy as its figures spring to their highest levels since April 2010.
This optimistic picture is substantiated by a two-decade low of German unemployment rates, hinting that the Euro zone recovery is carried onwards. However, experts now argue that while Germany’s economy depicts a positive outlook and subsequently pushes Europe’s overall recovery onwards, investors eyes should fall on the U.S. as discussions regarding its debt ceiling are prolonged because of the disagreements between President Obama’s government and the Senate leaders.
ECOFIN Meeting to Resolve Troika Bailout Programs
The Economic and Financial Affairs Council (ECOFIN), constituting Europe’s broadest financial decision making body, has adjourned two major issues in the passing couple of days; the banking union implementation and the possible extension of the Taroika bailout programs.
The meeting is expected to be concluded later today, though experts anticipate no major updates due to the complications Germany is now facing in building its new government and the ongoing disagreement of the future backstop mechanisms.