ECB vs inflation
As expected, the ECB leaves interest rates unchanged
As expected, the ECB leaves interest rates unchanged in July.
The announcement means that the deposit interest rate remains at 3.75 percent, and the other interest rates at 4.25 and 4.5 percent.
“Incoming data broadly support the ECB's previous assessment of the medium-term inflation outlook. While some measures of underlying inflation rose in May due to one-off effects, most measures were stable or slightly lower than in June," writes the ECB in a commentary.
At the same time, the ECB Council points out that it does not commit to a certain interest rate path.
The ECB lowered the so-called deposit rate by 25 basis points at the June meeting. The June cut was the ECB's first since 2019.
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The Volvo boss: "It's going well - have found a balance"
Truck giant Volvo countered lower volumes and a larger expected drop in profits through, among other things, price increases and lower shipping costs in the second quarter.
CEO Martin Lundstedt tells TT that a balance has been found between orders, systems and deliveries to customers.
- It's going well, it's another strong quarter.
When asked about the competition from China for electric vehicles, the Volvo boss says that a major shift is underway that will lead to both opportunities and threats. Volvo takes all players "very seriously", he says.
Truck giant Volvo countered lower volumes and a larger expected drop in profits through, among other things, price increases and lower shipping costs in the second quarter.
CEO Martin Lundstedt tells TT that a balance has been found between orders, systems and deliveries to customers.
- It's going well, it's another strong quarter.
When asked about the competition from China for electric vehicles, the Volvo boss says that a major shift is underway that will lead to both opportunities and threats. Volvo takes all players "very seriously", he says.
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The development of electric cars
The government says no to tariffs - wants to protect Volvo Cars
Sweden abstained when the EU voted on electric car tariffs for the first time on Monday. Now Foreign Trade Minister Johan Forssell (M) tells SvD that the government is against higher tariffs on electric cars from China.
- We do not support the proposal and we are generally skeptical of this type of measures.
Sweden wants to protect Volvo Cars, Polestar and "the entire cluster" of the Swedish automotive industry, says Forssell.
SvD writes that two groupings have been created within the EU of countries with large car industries. Sweden is now following the same line as Germany - while other major car countries such as France and Spain want to see increased tariffs.
The EU must decide before November whether the current temporary increase will continue to apply for the next five years.
The government says no to tariffs - wants to protect Volvo Cars
Sweden abstained when the EU voted on electric car tariffs for the first time on Monday. Now Foreign Trade Minister Johan Forssell (M) tells SvD that the government is against higher tariffs on electric cars from China.
- We do not support the proposal and we are generally skeptical of this type of measures.
Sweden wants to protect Volvo Cars, Polestar and "the entire cluster" of the Swedish automotive industry, says Forssell.
SvD writes that two groupings have been created within the EU of countries with large car industries. Sweden is now following the same line as Germany - while other major car countries such as France and Spain want to see increased tariffs.
The EU must decide before November whether the current temporary increase will continue to apply for the next five years.
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