Euro zone inflation eased more expected in November, raising hopes that price growth is now past its peak and bolstering, sealing the case for a slowdown in European Central Bank rate hikes next month
Euro zone inflation eased far more than expected in November, raising hopes that sky-high price growth is now past its peak and bolstering, if not outright sealing the case for a slowdown in European Central Bank rate hikes next month.
Consumer prices in the 19 countries sharing the euro grew by 10.Heavy rain and strong wind gusts are likely Wednesday across the midstate, forecasters said.The bitcoin logo displayed on a smartphone with euro banknotes in the backgrouund.blog post , Ulrich Bindseil, director general of market infrastructure and payments at the European Central Bank (ECB), and Jürgen Schaaf, advisor to the senior management of the market infrastructure and payments business area of the ECB, predict that Bitcoin is heading toward irrelevance.
0% this month after a 10.6% increase in October, coming in well below expectations for 10.m.4% in a Reuters poll of analysts." related investing news Yun Li a day ago "More likely, however, it is an artificially induced last gasp before the road to irrelevance — and this was already foreseeable before FTX went bust and sent the bitcoin price to well below USD16,000," they wrote.The overall picture is more nuanced, however, as energy prices accounted for the bulk of the slowdown while underlying price growth remained stubbornly high and food prices, a key worry, continued to rise, Eurostat data showed on Wednesday.m.With inflation running at more than five times its 2% target, the ECB has raised interest rates at its fastest pace on record this year and a string of hikes over the coming months is still likely as price growth will take years to tame.Ads.
But some policymakers have recently made the case for a 50 basis point rise on Dec.m.Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, warned that the bounce is likely just a bear market rally and would not be sustained.15 after back-to-back 75 basis point moves, arguing that inflation is finally peaking and that the ECB has made enough progress to justify more modest steps."While we're far from out of the woods yet, it does look like the current economic environment could push the European Central Bank to a smaller 50 bp hike next month," ING economist Bert Colijn said.Although Thursday will likely be sunny and dry, forecasters said highs will only reach the low 40s.Market bets, which had been split between moves of 50 and 75 basis points, moved sharply on Wednesday's data and investors now see a 50 basis point move as the most likely outcome for December.And the market has been largely down in the dumps this year amid higher interest rates from the Federal Reserve.Reuters Graphics Reuters Graphics While the dip in headline prices, the euro zone's first in well over a year, strengthens the case for more measured ECB action next month, Wednesday's data could also fuel fears that inflation will prove more persistent than expected.More rain is likely between 8 a.
[1/4] Price tags are seen at a local market in Nice, France, June 7, 2022.REUTERS/Eric Gaillard/File Photo 1 3 4 Underlying price growth, excluding volatile food and energy prices, remained high, which is likely to trigger warnings from conservative central bankers, while food price growth, a key concern for governments, shows little sign of peaking.and 2 p."Bitcoin has never been used to any significant extent for legal real-world transactions.Filtering out food and fuel costs, inflation rose to 6.6% from 6.Saturday, forecasters said.4%, defying expectations for a drop, while an even more narrow measure that also excludes alcohol and tobacco held steady at 5.The market valuation of Bitcoin is therefore based purely on speculation," they added.
0%.Today High near 56.Inflation for processed food, alcohol and tobacco, a key category, meanwhile accelerated to 13.6% from 12.Tonight Mostly clear, with a low around 28.Bindseil and Schaff said it was important not to mistake regulation as a sign of approval.4%."This does not mean that the battle against inflation has been won," Commerzbank economist Christoph Weil said.Thursday Night Mostly clear, with a low around 25.
"The underlying upward pressure on prices is unlikely to abate.Secondly, the use of a promising technology is not a sufficient condition for an added value of a product based on it." "The core inflation rate is unlikely to peak until mid-2023 and will only fall slowly thereafter.Friday Night Mostly cloudy, with a low around 36." Another complication is that economic growth is not flagging as much as some had anticipated, meaning that the deflationary impact of a looming winter recession is likely to be more modest than once thought.Initially fuelled by global supply bottlenecks as economies reopened after pandemic, inflation has been driven this year by energy costs which surged after Russia invaded Ukraine and soaring food prices related to the war and poor harvests.If you purchase a product or register for an account through one of the links on our site, we may receive compensation.Ethereum, the network behind bitcoin rival ether , recently transitioned to a new framework that backers say would cut its energy consumption by more than 99%.Inflation could still edge back up in the coming months, especially at the turn of the year when energy contracts get repriced, but it is likely to decline through 2023 and return to the vicinity of 2% by the end of 2024.
Such a rapid decline lacks historical precedence, some policymakers warn, suggesting that today's small decline is unlikely to be a game-changer for where rates end up over the cycle of monetary tightening.Reporting by Balazs Koranyi; Editing by Catherine Evans Our Standards:." It's not the first time the ECB has raised doubts about digital currencies.
November coming to a rainy, windy end in central Pa.Between 40–50 mph gusts are possible during the day Wednesday.
European Central Bank says bitcoin is on the 'road to irrelevance'The remarks are timely, with the crypto industry reeling from one of its most catastrophic failures in recent history: the downfall of FTX. Once again, Europe is well behind what everyone else already knows. Coca Cola says Pepsi tastes bad I’m calling 🧢 this what the want you to think
European Central Bank Issues Major Warning About BitcoinWorld's largest cryptocurrency is already on path to irrelevance, according to European Central Bank (ECB) ecb Yes dump it
European Central Bank Says Bitcoin Is On 'Road to Irrelevance'High-ranking members of Europe’s preeminent central bank said that trading the world’s most-used cryptocurrency is more like gambling. During a seance George Raft said He couldn't see a use for them. Bitcoin is irrelevant. We are phasing out bearer banknotes. Pay no attention to our competition. Businesses deemed to be criminal, or merely morally dubious, are systematically cut off from official banking. We are the only ones that can be trusted. Dump BTC. Good sign.
European Central Bank blasts Bitcoin —community respondsThe post summarized the timeline of Bitcoin price fluctuations and even said it is on the road to “irrelevance,” though the crypto community on Twitter thought otherwise. Obviously ....another for the ‘obituary metric’ 😂😂🤣👍🏻 According to this cat
Euro area Economic Sentiment Indicator improves to 93.7 in November vs. 93.5 expectedThe data published by the European Commission showed on Tuesday that the Economic Sentiment Indicator (ESI) for the Euro area improved to 93.7 in Nove