 |
| Where's all the money gone |
The annual inflation rate in France rose to 6.3% in February of 2023, the highest rate since May of 1985, from 6% in January, and slightly above a preliminary reading of 6.2%.
The bigger argument about the EU, was a similar currenc would depress the inflation rate. By linking the European currencies with the deutschmark. This is the French inflation rate is as does the EU inflation rate.
I thought the idea strong currency, was to raise interest rate to clear the inflated nature of two per cent. The ECB has other ideas.
Key ECB interest rates
europa.eu
https://www.ecb.europa.eu › stats › html › index.en.html
Date (with effect from) Date (with effect from) Deposit facility Main refinancing operations
Fixed rate tenders Fixed rate
2023 22 Mar. 3.00 3.50
2023 8 Feb. 2.50 3.00
I read Mar 3 that they had raised interest rates by ½%. Given the size of the economy this is a huge rise. The latest data is part February. An inflation rate of 6.3%. So by now it must be pushing 6.9%.
Here in the UK, things are not a lot different.
What is current UK interest rate?
4%
That includes the lending and savings rates offered by high street banks and building societies. Bank Rate is currently 4%.2 Feb 2023
The cost of living crisis last affects the whole of Europe. And these inflation numbers are way beyond 2%! The UK interest rate is not that different from the ECB rate. The inflation rateps 8.8%.
B age of cheap money is over. And the Euro zone has shown itself to know more resilient than the UK economy.
Germany Inflation Rate - February 2023 Data
Trading Economics
https://tradingeconomics.com › Germany
German inflation rate graph from tradingeconomics.com
Inflation Rate in Germany is expected to be 8.40% by the end of this quarter, according to Trading Economics global macro models and analysts ...
Core Inflation Rate · Food Inflation · Consumer Price Index CPI
The German economy is based around tight control of money. So is don't hyper inflation in 1929. There had 88 and inflation rate of just two per cent. The skyscrapers in Germany must reform executives taking the quick route to the ground floor - jumping out of the nearest window.
An inflation rate of 8.4 per cent is Wall Street crash levels. We are back into hyper inflation days. Which will signal the end of the European Union. And kill so many bankers!
What is the US inflation rate now?
6.04%
Basic Info. US Inflation Rate is at 6.04%, compared to 6.41% last month and 7.87% last year. This is higher than the long term average of 3.28%.
Do this as burn were killed by inflation rate of just 6.04% and falling. I am sorry that I did not paying attention to the money markets recently. There is a big crisis happening!
In my defence, the newspapers have written little copy about this. I will have to buy a copy of the Economist tomorrow.
No comments:
Post a Comment