LONDON―Growth in euro zone business activity slowed this month as firms faced soaring costs due to supply-chain constraints, while the bloc’s dominant service industry struggled amid ongoing COVID-19 concerns, a survey showed on Friday. IHS Markit’s Flash Composite Purchasing Managers’ Index (PMI), a good gauge of overall economic health, fell to a six-month low of…
Euro Zone Inflation Expectations Hit ECB Target of 2 Percent
October 22, 2021
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LONDON—A key market gauge of euro zone inflation expectations rose on Friday to 2 percent, the ECB’s inflation target, for the first time in seven years, putting pressure on the central bank as it weighs how to proceed with stimulus when its pandemic-era support ends. The five-year, five-year forward inflation swap, a key market gauge…
Risk of Higher Euro Zone Inflation on the Rise: ECB’s Vasle
LJUBLJANA—Euro zone inflation is at risk of overshooting projections so the European Central Bank needs to carefully monitor price growth and should end its emergency stimulus programme next March, ECB policymaker Bostjan Vasle told Reuters. Inflation has surged above the ECB’s target due to a long list of one-off factors, leading to fears that what…
Dollar Near 14-Month High to Euro, Focus on Inflation
October 7, 2021
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LONDON—The dollar held close to a 14-month high against the euro on Thursday, as a surge in energy prices raised the risk for the U.S. Federal Reserve to act sooner to normalise policy. The U.S. currency was slightly lower at $1.1563 per euro after strengthening to $1.1529 on Wednesday for the first time since July…
Euro Zone Factory Growth Strong in September but Bottlenecks Bite
LONDON—Euro zone manufacturing growth remained strong in September but activity took a big hit from supply chain bottlenecks that are likely to persist and keep inflationary pressures high, a survey showed on Friday. Factories have struggled with logistical issues, product shortages and a labour crunch brought about in large part by ongoing disruptions caused by…
Euro Zone Sentiment Edges up in September, Defies Expectations of Drop
BRUSSELS—Euro zone economic sentiment edged higher in September after a fall in August, boosted by optimism among consumers and in the industry and construction sectors, while inflation expectations continued to rise among manufacturers and consumers alike. The European Commission’s economic sentiment indicator rose to 117.8 in September, from 117.6 in August, after hitting an all-time…
ECB’s Weidmann Wants Digital Euro to Start Small
FRANKFURT—A digital euro, currently under design by the European Central Bank, should have a limited role initially as it could disrupt the bank sector and overly extend the role of central banking, Bundesbank President Jens Weidmann said on Tuesday. “A gradual approach might make sense given the risks involved—that means a digital euro with a…
EU Probes 3.2 Billion Euro Restructuring Aid for Airline TAP
BRUSSELS—EU competition regulators will investigate whether a 3.2–billion-euro ($3.8 billion) restructuring plan for ailing Portuguese airline TAP is proportionate and complies with EU state aid rules, the European Commission said on Friday. The overhaul plan involves around 2,000 job cuts by 2022, pay cuts of up to 25 percent, a reduced fleet, and the sale…
Heroic Danes Show Heart Despite Fall at Final Euro Hurdle
COPENHAGEN—With their Euro 2020 campaign looking over by halftime in the opening game after Christian Eriksen’s collapse, Denmark somehow came blazing back to reach the semi-finals, only to finally run out of steam as they lost to England after extra time. The closest most of the Danish players had been to such tragedy and drama…
‘Euphoria’ for Denmark After Difficult Start at Euro 2020
COPENHAGEN—Kasper Schmeichel described his feelings after Denmark’s win over Russia at the European Championship with one word. ”Euphoria,” the goalkeeper said. That sense of unbridled joy is a nice feeling for a team that’s been through, as Schmeichel put it, ”a turbulent emotional roller coaster” at Euro 2020 but now has every reason to look…
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