It is not easy for many to admit that they made an error. It seems the President Trichet might finally be starting to embark on that difficult path. After raising rates in the Euro-Zone over the protests of many top figures within that continent, Trichet finally admitted what the rest of the world had realized [...]
Many in recent years have pointed to a “global market” that has emerged in the past few decades. While this term is typically a reference to increased global trade and international economic cooperation, the expression is also becoming applicable to the status of the world’s economy. After several years of widespread economic boon, it is [...]
One of the interesting aspects about today’s country in the Random Country Report is its youth; the country abandoned communism less than twenty years ago. Hungary, like many of neighbors, is a relatively young republic, and while many countries have had centuries to adapt to capitalism, Hungary has had about eighteen years to acclimate to [...]
With this week’s ECB’s decision all but official, a more important question looms: what’s next? The ECB is a bank whose primary focus — witnessed in both its charter and its past actions — is price stability. Despite poor economic performance in recent months, the ECB essentially has to raise rates this week, as the [...]
EUR/USD has been establishing fresh highs almost daily for the past two weeks. The upward movement in the currency pair is due to a variety of factors pointing to both euro strength and dollar weakness. Economic growth within the Eurozone is forecast to be 2.6% in 2007, putting the 13-country region at a pace behind [...]
European Central Bank President Jean Claude-Trichet spoke to a group of students and economists recently on the overwhelming success of the euro. Europe as a whole is definitely going through a boom period right now with unemployment in the continent at a 25-year low and steady growth. Much of that success, Trichet claims, should be [...]
November inflation data was published yesterday above expectations. Although lowering from above 11% earlier this year, CPI came in at 9.9% YoY. PPI came in at 12.7%. The most likely response from the central bank will be to not lower the rates anytime soon.
Riots broke out in Hungary after an audio clip surfaced of Prime Minister Ferenc Gyurcsany saying how the government lied about the state of the economy to help him be re-elected. Hungarians trying to be part of the European Union and adapt the Euro needs to have below a 3% of GDP deficit to qualify, [...]
Starting at approximately 2:30 AM EST, after details were leaked about the new Convergence Programme report due to be submitted to the EU on September 1, the EUR/HUF moved 470 pips to 279.20, retracted and moved up to a new high at 279.61. The report is worse than expected with public debt likely to stay [...]
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