The most important events and reports on the economy, central banks, politics from the program of Dow Jones Newswires
US inflation higher than expected in January
Inflation in the United States was stronger than expected in January. As the U.S. Ministry of Labor announced, consumer prices rose by 0.5 percent compared to the previous month and were 3.0 (previous month: 2.9) percent above the level of the previous year. Economists surveyed by Dow Jones Newswires had expected a monthly price increase of 0.3 percent and an annual tax of 2.9 percent. Core consumer prices (without energy and food) increased by 0.4 percent to monthly and 3.3 (previous month: 3.2) percent. The economists surveyed had expected a monthly rate of 0.3 percent and an annual rate of 3.1 percent.
Powell rejects comment on interest claims Trumps
FED-Chairman Jerome Powell rejected a comment on the request of US President Donald Trump for lower interest rates. “In principle, I do not comment on the president’s statements,” said Powell in his hearing in the Financial Service Committee of the House of Representatives. The public could assume that the Fed would do its job. Another question answered the Fed Chairman that he would not withdraw at the President’s request.
Nagel: Neutral interest could be higher than 2-1/4%
According to its President Joachim Nagel, the Bundesbank sees the risk of the so -called neutral interest underneath Monetary policy the European Central Bank (ECB) has an expansionary effect, is somewhat higher than is estimated by the ECB. This carries the risk that the ECB would pursue too loose monetary policy in the course of further interest rate reductions and thus conjure up the risk of inflation. In a lecture at the London School of Economics (LSE), Nagel referred to the recently published estimate of a neutral nominal interest from 1-3/4 to 2-1/4 percent, according to the published speech. a range of 1.8 to 2.5 percent. ”
US Rohöllag stocks increased more than expected
The raw oil stock stocks in the United States expanded more than expected in the week of February 7th. According to the State Energy Information Administration (EIA), they rose by 4.07 million barrels compared to the previous week. Analysts surveyed by Dow Jones Newswires had only predicted an increase of 2.4 million barrels. In the previous week, the inventory had increased by 8.664 million barrels. According to EIA, the petrol stocks decreased by 3.035 million barrels. Analysts, on the other hand, had expected an increase of 0.8 million barrels after the supplies rose by 2.233 million in the previous week.
Opec is determined by the assessment of the oil demand
The organization of petroleum exporting countries (OPEC) has adhered to its oil demand forecast after it had confirmed its plans to gradually increase the amount of funding from April. At the same time, however, the OPEC explained that the trade policy of US President Donald Trump puts on the markets with a certain uncertainty. “The new trade policy of the US government has unsettled the markets, which can lead to imbalances between supply and demand that do not correspond to the fundamental data of the market and therefore lead to more volatility,” said the cartel based in Vienna.
Lobby group: EU needs new patent regulations
According to the Fair Standards Alliance (FSA), the European Commission’s plan to withdraw the proposed new patent regulations for standardized technologies sends a “terrible signal” to innovative companies that rely on fair licensing. The FSA is a lobby group supported by smartphone manufacturers such as Apple and automotive groups such as BMW and Ford. She explains that the abolition of the regulation in contradiction to call the former President of the European Central Bank, Mario Draghi, is to take measures that make it easier for companies in the EU to be innovative. “We urgently ask the Commission to rethink its decision,” explains the group.
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(End) Dow Jones Newswires
February 12, 2025 13:00 ET (18:00 GMT)