this The price of the euro against the dollar has returned below the parity and listed lowest level since February 2002 Gas supply concerns and a increased risk of recession In the euro area, he expects representatives of the US Federal Reserve and other central banks to meet at Jackson Hole this weekend.
In this way the exchange of the euro against the ‘green ticket’ fell this Tuesday. up to $0.9902 At $0.9941 at Monday’s close, it’s the worst change for the European currency since February 2002.
Adding to gas supply challenges, Germany’s central bank, the Bundesbank, warned this Monday of a significant rise in risks, pointing to a contraction in GDP in the second half of the year. inflationary pressures Can rise to increase IPC To about 10% this fall. Expecting the inflation rate to reach “new highs” in the fall, when price increases in the country “may reach the order of 10”, the organization said, “The probability of a fall in GDP in the winter period has increased significantly.” %”.
Last week, German representative on the board of the European Central Bank (ECB), Isabel Schnabel, acknowledged that signs pointing to a slowdown in growth in the euro area open a new door for Europe. the regional economy enters a technical recessionhowever, it will likely take some time for inflationary pressures to dissipate.
In this way, for the ECB Governing Council meeting next September, Schnabel was in favor of the asset’s return. act decisivelyLooking at the latest data, the concerns that existed in July, when the Central Bank decided to raise interest rates by 50 basis points, “have not subsided”.