Energy prices, up 28.6%, played a major role in record inflation for nations using euro currency, but ECB predicts it will fall to 1.8% in 2023 and 2024
Energy costs jumped 26%, Eurostat reports, while food price increases also contributed to European inflation
Work remains to reinforce the shared currency, finance ministers say
ECB president Christine Lagarde said that the economic outlook in the short term "remains clouded by uncertainty"
Comments today from the European Central Bank sent the euro lower against the dollar
Outlook for the euro and pound
ECB head Mario Draghi said the bank was ready "to adjust all of its instruments'' in case of unexpected trouble
CPPIB will contribute 450 million euros
Germany is the European Union’s economic powerhouse. The country has had 16 consecutive quarters of GDP growth—its longest upswing since 1991—and is enjoying its lowest unemployment rate since reunification in 1990. Germany’s solid growth has continued this year despite political challenges to Chancellor Angela Merkel’s leadership, with more jobs and higher wages driving consumer spending. […]
With U.S. growth revised upward due to government spending and tax cuts, markets have priced in three Fed rate hikes for 2018. That’s allowed the U.S. dollar to put up a fight against global currencies despite a deficit projected to surpass US$1 trillion in 2019. “Generous long-end spreads versus still-low overseas yields are providing enough […]