BERLIN –
Inflation, which slowed slightly to 11.3 percent in November from a high of 11.6 percent the month prior, is no longer driven primarily by energy costs but by a host of factors, BDI president Siegfried Russwurm said in a survey of several industry associations.“A return to a level of 2 percent is likely to take longer and can only be achieved by the middle of the decade if monetary policy takes effect,” he said.
The ECB has raised interest rates by a combined 2.5 percentage points since July – its fastest pace of monetary tightening on record – to counter inflation.
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Wall St ends firmer, growth stocks lead in thin tradingWall Street’s main indexes closed higher on Thursday, led by growth stocks in light trading, as U.S. unemployment data signaled the Federal Reserve’s interest rate hikes might be starting to dent labor market strength in its bid to fight inflation.
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