Inflation
Joe Biden faces renewed election threat from inflation
He wanted the U.S presidential election to be about "Bidenomics." Instead, it risks being about "Bidenflation."
Joe Biden faces one of the biggest threats to his hopes of beating Donald Trump from rising prices that are hitting Americans in the wallet.
Gold Reaches New Highs, Nearly Touching 2,400 USD per Ounce
In the early hours of Friday trading, the price of gold surged to an unprecedented peak, nearing the 2,400 USD per ounce mark. This remarkable uptick comes amidst sustained acquisitions of the precious metal by central banks, especially China, and its enduring status as a haven investment amid escalating geopolitical uncertainties.
NBS key policy rate kept on hold at 6.5 pct
BELGRADE - The National Bank of Serbia (NBS) Executive Board decided on Thursday to keep the key policy rate on hold at 6.50 pct and the rates on deposit (5.25 pct) and lending (7.75 pct) facilities were also kept unchanged.
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Inflation climbed to 3.2% in March
The national inflation rate in Greece amounted to 3.2% in March climbing from 2.9% in February, the Hellenic Statistical Authority (ELSTAT) reported on Wednesday.
ELSTAT's data confirm the rising inflation picture shown by Eurostat's statistics, according to which European Union-harmonized inflation rose in Greece to 3.4% in March, from 3.1% in February.
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Sectors guilty of greedflation
The pandemic and the energy crisis gave Greek companies an opportunity to significantly increase their profit margins.
The phenomenon of profit inflation or "greedflation" was seen internationally in the period 2021-2022, but it assumed large dimensions in Greece due to the country comparatively small market, which is prone to a lack of sufficient competition.
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ECB tipped to pause one last time before June rate cut
Buoyed by falling inflation, the European Central Bank is expected to keep borrowing costs on hold one last time on April 11 while laying the ground for a first interest rate cut in June.
The Frankfurt-based institution has left its key rates unchanged since October 2023, following an unprecedented streak of hikes to tame red-hot inflation.
Wage growth to 1,500 euros is a long shot
The objective to return the average monthly salary in Greece to pre-crisis levels - i.e. 1,500 euros - is an undertaking with an increased degree of difficulty, as the country's structural problems, which are still worsening, and the international economic situation are not helping.
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Central Bank eases securities maintenance rules for lenders
The Central Bank has announced that it will scrap the implementation regarding securities maintenance based on loan growth while raising the monthly maximum interest rates to be charged for credit cards.
The bank said it is considering terminating the securities maintenance practice "in a short while."
Bulgaria Ranks Second in EU for Housing Price Growth: Eurostat Report
According to the European statistical office Eurostat, housing prices, measured by the House Price Index, increased by 0.2 % in the EU during the fourth quarter of 2023 compared to the same quarter of the previous year. However, in the euro area, they decreased by 1.1 %. This marks a continuation of the trend observed in the third quarter, where prices fell by 1.1 %and 2.2 %, respectively.
Disappointing Q1 for retail
Retail commerce turnover in the first quarter of 2024 was disappointing, according to traders' estimates. The market is now pinning its hopes on the Easter period and tourism, although both have a strong seasonal and local character.
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