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Inflation rate in the Eurozone is expected to slow slightly in August

September 1, 2018 11:28 pmComments Off on Inflation rate in the Eurozone is expected to slow slightly in August
Inflation rate in the Eurozone is expected to slow slightly in August

The inflation rate in the Eurozone is expected to slow slightly in August after reaching its highest levels in five years during the previous month. The forecasts are that the price growth will slow down to 2.0% in the eighth month of the year, declining from 2.1% in July, according to preliminary estimates by the European Statistical Office Eurostat. The consumer price growth over the past few months has remained […]

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Turkey raised the tax on foreign currency deposits

10:20 pmComments Off on Turkey raised the tax on foreign currency deposits
Turkey raised the tax on foreign currency deposits

Turkey raised the tax on foreign currency deposits and removed taxes on those in Turkish lira in its efforts to support its troubled currency. According to today’s decision, the tax on foreign currency deposits with a term of up to six months increases from 18% to 20%. At the same time, the tax on deposits in Turkish lira with a term over one year is reduced from 10% to 0%. […]

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Eurozone economic confidence deteriorates in August

August 31, 2018 1:58 pmComments Off on Eurozone economic confidence deteriorates in August
Eurozone economic confidence deteriorates in August

The Eurozone economic confidence deteriorates for the eighth consecutive month in August, driven by sluggish optimism in industry and services, according to the European Commission’s monthly survey. The survey shows that the economic confidence indicator in the 19 countries of the single currency area fell to 111.6 points in August from 112.1 in July, continuing the negative trend after the peak of 115.2 points December. At the same time, the […]

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Number of unemployed in Germany has increased by 26,000 in August

1:51 pmComments Off on Number of unemployed in Germany has increased by 26,000 in August
Number of unemployed in Germany has increased by 26,000 in August

The number of unemployed people in Germany has increased by 26,000 in August, reaching 2.35 million, according to Federal Employment Agency figures. This is an increase of 0.1 percentage points over the previous month and so unemployment in Germany amounted to 5.2%. Compared to the same month last year, the number of Germans without work decreased by about 194,000. “The slightly higher unemployment rate in August can be attributed to […]

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Germany’s consumer confidence expectations deteriorate next month

August 30, 2018 9:57 amComments Off on Germany’s consumer confidence expectations deteriorate next month
Germany’s consumer confidence expectations deteriorate next month

Germany’s consumer confidence might fall next month amid worries about the outlook for the economy, according to a study by the Nuremberg research firm GfK. GfK said its preliminary consumer confidence index was down to 10.5 points in September from 10.6 in August. “People see they get low interest rates on their financial assets, and at the same time they have to cope with 2% inflation”, said Rolf Burkl from […]

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