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Interest Rates

The_Conductor · 2007-12-01 16:23:10

Eurostat issued its monthly inflation figures on Thursday for the month of October. Inflation is now at its highest figure in over 6 years in the EU, at just over 3%. The ECB is tasked with stable inflation levels (seen as 2%), however given the current credit crunch, and the value of the Euro versus the dollar, the ECB is…

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01-12-2007 5:23pm

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The_Conductor

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Eurostat issued its monthly inflation figures on Thursday for the month of October. Inflation is now at its highest figure in over 6 years in the EU, at just over 3%. The ECB is tasked with stable inflation levels (seen as 2%), however given the current credit crunch, and the value of the Euro versus the dollar, the ECB is expected to leave interest rates on hold at its December meeting this week, and following the refinancing of its short term loans later in December, to increase rates by .25% at its January meeting, with a further step towards normalisation of interest rates between 4.5 and 5% later in the year, as financial conditions further stabilise.

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