European economy grew 0.3% in the first quarter showing signs of recovery

On the evening of the 9th, Beijing time, official European data showed a slight recovery in the European economy in early 2024. Compared to the last three months of 2023, the European economy grew 0.3% month-on-month in the first quarter of this year, as the burden of inflation on consumers eased, and the German economy, which had previously stagnated, began to show signs of moderate recovery. Germany is the largest economy on the European continent. Eurostat's economic growth rate in the first quarter was the strongest since the third quarter of 2022, according to official data released by Eurostat on Tuesday. The Eurozone economy shrank in the last two quarters of 2023

環球市場播報May 9 10:36 ET

ECB Governing Council Wunsch: Inflation prospects are still at risk

European Central Bank Governing Council member Pierre Wunsch still believes consumer prices are at risk, including weakening the euro if the Eurozone's monetary policy deviates too far from the US. Although the Eurozone may start cutting interest rates this year, the Belgian central bank governor is urging caution. He said there are still significant risks to the wage growth trajectory and inflation in wage-intensive services. “This is not the time to commit to a defined course of action,” he said. Speaking at the Central Bank Center in Frankfurt on Wednesday, Wunsch said, “One known unknown factor is still the influence of exchange rates and

環球市場播報May 8 09:58 ET

German Industry Won't Help Economic Growth in Coming Months -- Market Talk

German industrial production might continue to weaken in the coming months, with incoming orders still subdued, before a mild recovery in the second half of 2024, according to Commerzbank economist Ralph Solveen.

WSJMay 8 05:47 ET

Singapore Foreign Exchange Reserves Up in April

Singapore's foreign exchange reserves grew to SG$500.31 billion in April from a revised SG$497.58 billion in March, the largest recorded since April 2022, preliminary data from the Monetary Authority of Singapore on Tuesday showed.

MT NewswiresMay 7 22:22 ET

ECB's Nagel Says Structural Forces Could Keep Inflation Higher

European Central Bank Governing Council member Joachim Nagel said forces including geopolitics and decarbonization could keep consumer-price growth elevated in the years ahead.

BNN BloombergMay 7 11:58 ET

Bank of Spain Governor: If inflation continues to cool down, it is very likely that the ECB will cut interest rates in June

ECB Governing Council member and Bank of Spain President Pablo Hernandez de Cos (Pablo Hernandez de Cos) said that if consumer prices in the Eurozone no longer fluctuate sharply, which means that the downward path of inflation remains unchanged, the ECB can consider announcing the first rate cut at next month's interest rate meeting.

Zhitong FinanceMay 7 07:00 ET