According to a Reuters survey, the European Central Bank will postpone the increase in deposit rates until the fourth quarter of 2019. Earlier, the increase was planned for the third quarter of the year, but concerns about the German economy forced to move the deadline for the implementation of the Bank’s decision. Analysts revised growth forecasts for the largest EU economies downwards. The economies of Germany, France and Italy will grow at a slower pace in 2019. The reasons for the decline were the slow growth of the US economy and the trade dispute with China. The ECB will raise the deposit rate to -0.2% from -0.4%, and the refinancing rate will rise to 0% from -0.2% at the beginning of next year. The plans for the development of the European economy will also be affected by the decision on Brexit, the parties to which have not yet come to an agreement. Experts have increased the likelihood of a downturn from 30% to 35%. Inflation in the euro area will almost reach the target value of the ECB at 2% and will be 1.6%. Experts also lowered the growth forecast for the European economy to 1.5%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...