Germany's ruling coalition is in talks to resolve a budget crisis triggered by a court ruling. The ECB's Joachim Nagel says borrowing costs are near peak, but inflation may require more tightening. The German economy's contraction eases, but the financial system needs to fully digest higher interest rates. The budget crisis has caused a loss of confidence in the steel sector and could slow down the EU economy. Germany's economy may grow next year by less than half the pace due to a constitutional court ruling, according to Bloomberg Economics. The Bundesbank warns of dark clouds facing the financial sector. The ECB is urged to resist cutting rates early as the euro zone's economy contracts. German GDP fell by 0.1% in the third quarter, confirming a recession. Ifo's Fuest sees positive signs but notes that the budget chaos creates uncertainty.
Consumer confidence is rebounding, and the latest snapshot of business activity was better than expected. In short, the UK's economic resilience continues. That's good news - but it also means hopes for interest rate cuts may be overdone. https://t.co/mcgGQ1b2GH
Consumer confidence is rebounding, and the latest snapshot of business activity was better than expected. In short, the UK's economic resilience continues. That's good news - but it also means hopes for interest rate cuts may be overdone. https://t.co/9ZDmsxDWvO
Consumer confidence is rebounding, and the latest snapshot of business activity was better than expected. In short, the UK's economic resilience continues. That's good news - but it also means hopes for interest rate cuts may be overdone. https://t.co/Bb6mK3GlBr
Germany's economy records contraction in third quarter https://t.co/QfvhVKgHX2 https://t.co/21XpdotBPv
German business sentiment improves in November - Ifo https://t.co/EtwbfLPFA0 https://t.co/RJlV7quFxM
🔴 IFO'S FUEST: GERMAN BUDGET CHAOS CREATES A LOT OF UNCERTAINTY.
🔴 IFO'S FUEST: WE ARE GETTING POSITIVE SIGNS ON THE GERMAN ECONOMY.
Germany's economy shrinks slightly in third quarter https://t.co/UF4CYJJfD9 https://t.co/UBQGRVuUqd
German economy’s downturn driven by a drop in private consumption https://t.co/x830xGMke8 via @WindSonja https://t.co/GXAf6zJlDK
JUST IN: German GDP falls 0.1% in third quarter, data confirm, as Europe's largest economy began what the Bundesbank reckons may be a recession https://t.co/QrPn6f9dt2 https://t.co/dHB5ATjp4D
Euro-area consumer confidence improves more than anticipated, providing some solace at a time of economic weakness across the 20-nation currency bloc https://t.co/EdYx3fFbMJ
UK consumer confidence jumps despite lingering inflation pain https://t.co/BBeWYhtE8q https://t.co/mMxfiYpxPS
Recession fears loom large for the euro zone. The Composite Purchasing Managers' Index or the PMI showed the bloc's economy contracted 0.1% in November https://t.co/Y3POGMk01Y https://t.co/kZFwZBXCOa
ECB MUST RESIST URGE TO CUT RATES EARLY (Reuters) The European Central Bank must resist any temptation to cut interest rates early as the most difficult part of fighting off the recent inflation surge could still be ahead, Bundesbank President Joachim Nagel said on Thursday. https://t.co/RrUf5AzNwn
ECB must resist urge to cut rates early, Bundesbank chief says https://t.co/VUCoWYPcme https://t.co/Oj98eEu3HB
GERMANY FINANCIAL SECTOR FACING DARK CLOUDS, BUNDESBANK WARNS (Reuters) Germany's financial firms may be well capitalized now but face challenges ranging from rising interest expenditure and weak loan demand to unrealized losses, Bundesbank Vice President Claudia Buch. https://t.co/gooqJJtdqu
The downturn in euro zone business activity eased in November but remained broadbased, suggesting the bloc's economy will contract again this quarter as consumers continue to rein in spending, a survey showed https://t.co/Y3POGMkxRw https://t.co/DdNqQxcUMd
Germany’s economy may grow next year by less than half the pace it could otherwise have achieved as the government reacts to a constitutional court ruling, Bloomberg Economics says https://t.co/S6UIORAFqT
⚠️ ECB MUST RESIST URGE TO CUT RATES EARLY, BUNDESBANK CHIEF SAYS Full Story → https://t.co/29q1PEqPod The European Central Bank must resist any temptation to cut interest rates early as the most difficult part of fighting off the recent inflation surge could still be ahead,… https://t.co/jtFbSksdKX https://t.co/ta3TblS9aG
UK business activity grows marginally in November https://t.co/5LD7XLEquW
Germany’s economy may grow next year by less than half the pace it could otherwise have achieved as the government reacts to a constitutional court ruling, Bloomberg Economics says https://t.co/Zgz07MmGJ0
Germany’s economy may grow next year by less than half the pace it could otherwise have achieved as the government reacts to a constitutional court ruling, Bloomberg Economics says https://t.co/2gyQYp9kmn
Germany looks for budget fix as steel firms bemoan loss of confidence https://t.co/Sf88xbij0O https://t.co/kbWdU2OYBM
German steel sector warns of risk to industry due to budget shortfall https://t.co/eIdLt3V6Sh https://t.co/B3sBUwgLeC
OECD: German budget crisis could slow down EU economy https://t.co/6dO65ayRZh https://t.co/MAHsfpcHPN
The vice-president of Germany's central bank has a warning for lenders as insolvencies rise https://t.co/ytmnh4gErV
Germany’s contraction eases in November in a signal that growth will soon return to the euro area’s biggest economy https://t.co/YqRcLxJczP
Germany financial sector facing dark clouds, Bundesbank warns https://t.co/HjvH8J5psz https://t.co/QedWa2G1TN
Germany’s financial system still needs to fully digest higher interest rates so it’s too soon to declare that ECB’s tightening has been well absorbed, the Bundesbank warns https://t.co/wQ8jfcoa5T
Euro zone business activity fell again in November https://t.co/Xnk6cnirdT https://t.co/o0z54ak2cR
German downturn eases in November, suggesting shallower recession -PMI https://t.co/SAgScQf2gO https://t.co/djXGPlfCCN
Germany’s financial system still needs to fully digest higher interest rates so it’s too soon to declare that ECB’s tightening has been well absorbed, the Bundesbank warns https://t.co/s6O074OdwC
Germany’s financial system still needs to fully digest higher interest rates so it’s too soon to declare that ECB’s tightening has been well absorbed, the Bundesbank warns https://t.co/QxBmIuJxDZ
German steel sector: budget hole has caused 'loss of confidence' https://t.co/6sy40Mr5V8 https://t.co/MFn4leqRlM
Germany’s contraction eases in November in a signal that growth will soon return to the euro area’s biggest economy https://t.co/zcthWd1zuo
⚠️ GERMAN STEEL SECTOR: BUDGET HOLE HAS CAUSED 'LOSS OF CONFIDENCE' Full Story → https://t.co/wVWOjvCnxX https://t.co/zg7cY08hq1
Germany’s economic downturn eases as French slump persists https://t.co/LPTjp1OKZ6 via @weberalexander https://t.co/zjKbBJZ7QE
Germany’s contraction eases in November in a signal that growth will soon return to the euro area’s biggest economy https://t.co/XuuBtgm7E4
The German government said on Tuesday it would immediately halt all new spending as it grappled with how to plug a gap of tens of billions of euros following a court ruling that has triggered a budget crisis in Europe’s largest economy. https://t.co/FFdswgiZ3A
⚠️ ECB'S NAGEL: RATES AT PEAK OR CLOSE, RULES OUT HARD LANDING Full Story → https://t.co/O1M4RFQSpR Euro zone interest rates are close to their peak in the current cycle or may have already reached it, European Central Bank Governing Council member Joachim Nagel said on… https://t.co/sSl1A584jg https://t.co/cfkYCWFtfo
Nagel says the ECB close to peak rate, can’t exclude another move https://t.co/JNUuzOzr5r via @Alemrome https://t.co/5YiaNGZbfs
Bundesbank President Nagel says the ECB is near peak for its borrowing costs, though another bout of inflation may require more tightening https://t.co/mBHpIZppS3
Bundesbank President Nagel says the ECB is near peak for its borrowing costs, though another bout of inflation may require more tightening https://t.co/tKJHkUZnXg
Bundesbank President Nagel says the ECB is near peak for its borrowing costs, though another bout of inflation may require more tightening https://t.co/KNTHs3rIDa
🔴 ECB'S NAGEL: I BELIEVE WE ARE CLOSE TO LEVEL SEEN AS THE TERMINAL RATE.
Germany’s ruling coalition is locked in talks to resolve an unprecedented budget crisis triggered by last week’s shock budget ruling by the country’s top court -- what happens next? https://t.co/JutcySt1ax
Germany’s ruling coalition is locked in talks to resolve an unprecedented budget crisis triggered by last week’s shock budget ruling by the country’s top court -- what happens next? https://t.co/zhsp1oDcVv