Economy

Fed vs. inflation
Warsh cautious with signals – but inflation “too high”

The US Federal Reserve is still sparing with details about how it might act at the next interest rate meeting in July. At the same time, inflation is still too high. This is what Fed Governor Kevin Warsh said during the ECB’s central bank forum in Sintra, Portugal, several media outlets report.

“I want us to have a proper family discussion when we meet in four weeks,” he says, referring to the next interest rate announcement, according to Bloomberg.

Warsh also reiterated that the Fed will not provide any forward-looking guidance on monetary policy.

Swedish interest rates
Thedéen’s warning: Too early to blow the danger over

The oil price has fallen back and is approaching pre-Iran war levels. But Riksbank Governor Erik Thedéen is not prepared to revise the interest rate path after a few days of lower oil prices, he tells DI.

The lower oil price was already taken into account in the latest interest rate decision. At the same time, Thedéen warns that several months of high oil prices may have delayed effects on inflation, for example on fertilizer and, subsequently, food prices.

– One should be a little careful about saying that this is over, says ha

Oil Market
Iran: Has sold 40 million barrels – gets paid more than before the war

Iran has exported over 40 million barrels of oil since the US lifted its blockade two weeks ago and is getting paid about 20 percent more than before the war. This is what the country's chief negotiator Mohammad Bagher Ghalibaf said in a television interview published on Telegram, according to CNBC.

Iran has agreed to let ships pass through the Strait of Hormuz without paying fees for 60 days.

- Iran will under no circumstances give up its rights in the Strait of Hormuz. These are our territorial waters, Bagher Ghalibaf said in the interview.

Brent oil is trading just like before the war at around $73 a barrel on Wednesday. It cost around $120 at its highest in April.

Tariff crisis  Trump's tariff policy
Trump will not extend trade agreement with Canada and Mexico

As expected, the Trump administration will not extend the USMCA free trade agreement with Canada and Mexico. Instead, the agreement will be reviewed annually, which could lead to large parts of the agreement being renegotiated. This is reported by several media outlets.

The decision means that the agreement will continue to be valid for another ten years, as long as none of the member countries chooses to leave.

President Donald Trump has previously praised the agreement that he signed during his first term, but has since become increasingly critical of it, writes CNBC.

Europe's growth
Inflation in the eurozone falls unexpectedly fast

The inflation rate in the eurozone fell preliminarily to 2.8 percent in June from 3.2 percent the month before, according to the statistics agency Eurostat. This is clearly lower than analysts' expectations of 3.0 percent.

Core inflation also fell unexpectedly, to 2.4 percent from 2.6 percent in May.

Clear declines in the major economies of Germany, France and Italy contributed to the development. In France, inflation fell provisionally to 2.0 percent from 2.8 percent the previous month.

The development is largely explained by the fact that energy prices have fallen in the wake of reduced tensions between the United States and Iran, writes the Wall Street Journal.

SAS's future
Analysis: Kastrup emerges victorious in the battle with Arlanda

Copenhagen Airport will be the big winner of SAS's historic billion-sek investments, both DI's Torbjörn Isacson and Sydsvenskan's Erik Magnusson state after the airline's announcement on Tuesday.

According to Isacson, almost all of the expansion is taking place at Kastrup. Partly because the Danish state is a co-owner of both the airline and the airport, and partly because of the major owner Air France-KLM's need to relieve the airports in Amsterdam and Paris.

It is difficult to overestimate the value of proximity to a major international airport and this applies not only to Copenhagen, but also to cities such as Malmö, Lund and Helsingborg, writes Erik Magnusson.

At the same time, the development is a defeat for the Stockholm area after Swedish authorities for decades "fought hard to make Arlanda the leading major airport in the Nordic region".