Inflation in the United States climbed to 7.5 percent year-on-year in January, the highest level in 40 years. This increases the chance that the central bank will raise interest rates even more aggressively than previously thought. Fed chief James Bullard said interest rates should be raised by 1 percentage point in the first half of the year. Investment bank Goldman Sachs is now forecasting seven rate hikes by the US central bank this year.
In Brussels, the Bel20 index fell 0.8 percent to 4,089.99 points. Shortly after opening, the Amsterdam AEX index recorded a minus of 0.5 percent at 758.80 points. The main indicators in Paris and Frankfurt fell 0.7 percent. London lost 0.5 percent. The British economy grew by 7.5 percent last year, after contracting 9.4 percent in 2020. That is the strongest growth since the Second World War.
The price of a barrel of US oil was virtually flat at $89.89 and Brent oil was 0.2 percent cheaper at $91.27 a barrel. The euro was worth $1.1388, against $1.1487 a day earlier.