• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 26 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 20 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 12 days Does Toyota Know Something That We Don’t?
  • 23 hours World could get rid of Putin and Russia but nobody is bold enough
  • 21 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 3 days Even Shell Agrees with Climate Change!
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

ECB Rate-Cut Expectations Soar After EU Inflation Cools More Than Expected

Following cooler than expected CPI from Germany and Spain yesterday, the aggregate euro-zone inflation cooled more than expected this morning with headline CPI tumbling from +2.9% in October to +2.4% in November. Core CPI - that excludes volatile components including fuel and food - also moderated for a fourth month, to 3.6%.

Source: Bloomberg

The decline in inflation was dominated by Energy deflation...

And inflation is slowing across all of Europe...

However, inflation is likely to tick higher before returning to target due to statistical effects and the wind-down of measures deployed last year by governments to offset soaring energy prices.

President Christine Lagarde has warned price gains may quicken “slightly” in the coming months and Bloomberg Economics’ Nowcast for December points to a reading of 3.2%.

And this has raised expectations for ECB rate-cuts next year, bringing forward expectations for the first cut from May to April...

Source: Bloomberg

Additionally, markets are betting on four quarter-point reductions in 2024 - up from three last week - and are assigning a 70% chance of a fifth, which would bring the deposit rate back to 2.75% from a record 4% currently.

ADVERTISEMENT

ECB officials are adamant, however, that monetary policy must remain tight to ensure inflation makes it all the way back to 2%.

By Zerohedge.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • George Doolittle on November 30 2023 said:
    Sure looks like "beggar thy neighbor" to me now *WELL* underway between China moving to the zero bound, Japan never having left that and Russia *LOSING* big time with the USA *STILL* set upon nuking the US Dollar to ahem "tax inflation" ahem.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News