this post was submitted on 30 Nov 2023
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Europe

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Inflation in Europe falls to 2.4%, as higher interest rates squeeze growth (www.euronews.com)
submitted 1 year ago by misk@sopuli.xyz to c/europe@feddit.de
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[–] agarorn@feddit.de 6 points 1 year ago

Keeping rates up as long as the inflation goal is not reached? So if inflation drops below 2% next month they will instantly go to 0% again? As if...

[–] autotldr@lemmings.world 4 points 1 year ago

This is the best summary I could come up with:

Inflation for the 20 countries using the euro currency fell from an annual 2.9% in October, according to numbers released Thursday by Eurostat, the European Union's statistics agency.

Europeans again saw some relief as inflation dropped to 2.4% in November, the lowest in more than two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy's ability to grow.

Inflation for the 20 countries using the euro currency fell from an annual 2.9% in October, according to numbers released Thursday by Eurostat, the European Union's statistics agency.

ECB President Christine Lagarde reiterated this week that the bank would make decisions based on the latest data and keep rates high as long as needed to reach its inflation goal.

Relief on their bills is at risk after a court ruling upended Germany's spending plan and left the government scrambling to fill a 60 billion-euro hole.

β€œWith a weakening economic outlook and disinflation, rate hikes should be off the table at the December meeting,” Carsten Brzeski, global head of macro at ING bank, said about the ECB.

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