ECB vs. inflation
ECB: “Convinced that we will reach the inflation target”
The European Central Bank is on track to reach its inflation target of 2 percent, the bank’s vice president Luis de Guindos said on Friday, according to Reuters. Eurozone inflation fell to 1.9 percent last month.
“We are convinced that we will reach the inflation target and that is why we cut interest rates,” he said in an interview with Spanish television channel Antena 3.
The ECB cut interest rates earlier in June and signaled a possible pause in July, as it awaits more clarity in the trade conflict with the United States.
ECB: “Convinced that we will reach the inflation target”
The European Central Bank is on track to reach its inflation target of 2 percent, the bank’s vice president Luis de Guindos said on Friday, according to Reuters. Eurozone inflation fell to 1.9 percent last month.
“We are convinced that we will reach the inflation target and that is why we cut interest rates,” he said in an interview with Spanish television channel Antena 3.
The ECB cut interest rates earlier in June and signaled a possible pause in July, as it awaits more clarity in the trade conflict with the United States.
Fed vs. inflation
Trump: We have a Fed guy who doesn’t understand
Federal Reserve Chairman Jerome Powell should lower interest rates so that the United States can borrow money more cheaply, Donald Trump says during a press conference.
– The only problem we have is that we have a Fed guy who doesn't understand what's going on, says the president, referring to the central bank chief.
Trump says Powell "is not a smart person" who "probably has Trumpophobia".
The president believes that interest rates should be 3 percentage points lower than the current 4.25-4.50 percent and says that the United States would then pay $900 billion less in interest per year.
The move is the latest in a series of attacks against the central bank and its head. Trump also claims that billions are flowing in through tariffs without increasing inflation.
On Friday, new figures showed that US core inflation increased unexpectedly much in May, to 2.7 percent. Economists predict that inflation will continue to increase in the coming months as companies try to pass on tariffs to American consumers, writes Bloomberg.
Trump: We have a Fed guy who doesn’t understand
Federal Reserve Chairman Jerome Powell should lower interest rates so that the United States can borrow money more cheaply, Donald Trump says during a press conference.
– The only problem we have is that we have a Fed guy who doesn't understand what's going on, says the president, referring to the central bank chief.
Trump says Powell "is not a smart person" who "probably has Trumpophobia".
The president believes that interest rates should be 3 percentage points lower than the current 4.25-4.50 percent and says that the United States would then pay $900 billion less in interest per year.
The move is the latest in a series of attacks against the central bank and its head. Trump also claims that billions are flowing in through tariffs without increasing inflation.
On Friday, new figures showed that US core inflation increased unexpectedly much in May, to 2.7 percent. Economists predict that inflation will continue to increase in the coming months as companies try to pass on tariffs to American consumers, writes Bloomberg.
Chinese economy
Unexpectedly large loss for Chinese industry
Profits for China's industrial companies fell by 9.1 percent in May compared to the same month last year, according to the state statistics office. It is the biggest loss since October and well below Bloomberg's forecast of minus 0.3 percent.
So far this year, the decline is 1.1 percent. The decline reflects weaknesses in the economy that are being pressured by US tariffs and deflation, which can inhibit investment and employment. Analysts see an increased need for government stimulus.
Unexpectedly large loss for Chinese industry
Profits for China's industrial companies fell by 9.1 percent in May compared to the same month last year, according to the state statistics office. It is the biggest loss since October and well below Bloomberg's forecast of minus 0.3 percent.
So far this year, the decline is 1.1 percent. The decline reflects weaknesses in the economy that are being pressured by US tariffs and deflation, which can inhibit investment and employment. Analysts see an increased need for government stimulus.
Saab sales
Saab confirms: Peru has shown interest in Jas Gripen
Peru wants to buy Jas Gripen planes. This is confirmed by the defense company Saab's press officer Mattias Rådström to Direkt, but points out that no contract has been signed or that there is any order ready.
- This is of course positive for Saab. We have previously been working on a deal with Peru, which has shown interest in Gripen, says Rådström without going into details.
Ekot reported this morning that Peru has shown interest in buying 24 Jas Gripen planes. The deal is valued at just over 33 billion kronor and is expected to be completed in July.
Saab confirms: Peru has shown interest in Jas Gripen
Peru wants to buy Jas Gripen planes. This is confirmed by the defense company Saab's press officer Mattias Rådström to Direkt, but points out that no contract has been signed or that there is any order ready.
- This is of course positive for Saab. We have previously been working on a deal with Peru, which has shown interest in Gripen, says Rådström without going into details.
Ekot reported this morning that Peru has shown interest in buying 24 Jas Gripen planes. The deal is valued at just over 33 billion kronor and is expected to be completed in July.
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