Inflation Saga Far from Over: Services Inflation in Euro Area Just as Stubborn as in the US, Makes Very Disconcerting Moves by Wolf Richter • Mar 1, 2024 • 133 Comments Over the three months through February, services inflation has been running at roughly the same hot rate as during the peak a year ago.
Status of US Dollar as Global Reserve Currency and USD Exchange Rates: Long, Slow, Uneven Decline Continues by Wolf Richter • Jan 1, 2024 • 104 Comments China’s renminbi keeps losing ground, after initial progress. But the tiny “other” reserve currencies combined are taking share from the USD.
ECB Balance Sheet QT: -€1.94 Trillion from Peak, down to €6.9 Trillion. Shed 47% of Pandemic QE Assets by Wolf Richter • Dec 28, 2023 • 44 Comments Quantitative tightening powers along in the euro area.
Runaway Services Inflation in Euro Area Spikes to Record. Core CPI Stays Near Record. Energy-Price Plunge Pushes Down Overall CPI by Wolf Richter • Jul 31, 2023 • 70 Comments “The drivers of inflation are changing…. Domestic price pressures, including from rising wages and robust profit margins,” are increasingly important: ECB
After 2 Months of Relentless “Core CPI Has Peaked” in Euroland, Services CPI Spikes to Record, Core CPI Worsens by Wolf Richter • Jul 19, 2023 • 118 Comments All eyes are now on underlying inflation. Forget the collapsing energy prices that pushed down overall CPI.
US Dollar’s Status as Global Reserve Currency on Slow Long-Term Decline, but Not Going Down in a Straight Line by Wolf Richter • Jul 15, 2023 • 222 Comments An important thing to keep our eyes on these days.
Honey, the Dollar’s Collapsing Again: USD against Yen, Euro, Peso, Other Currencies amid Inflation, Rate Hikes, and QT (or Lack Thereof) by Wolf Richter • Jul 14, 2023 • 164 Comments In other words, after a spike, the dollar dropped back to the higher end of the normal 20-year range. But the yen is a sloppy mess.
ECB Balance Sheet Plunged by €1.6 Trillion (-18%) from Peak. Bond Roll-Off Speeds Up by Wolf Richter • Jul 5, 2023 • 85 Comments Spooked by relentlessly raging inflation in services, ECB puts QT into higher gear.
Despite Banking Turmoil, ECB Accelerates QT plus Hikes by 25 Basis Points. Balance Sheet Plunged by €1.12 Trillion so Far by Wolf Richter • May 4, 2023 • 36 Comments “We’re not pausing, that’s very clear,” Lagarde said. “We know we have more ground to cover.”
Just in Time for ECB Rate-Hike Meeting: Eurozone Services Inflation Spikes to New Record. Overall Inflation Re-Accelerates by Wolf Richter • May 2, 2023 • 87 Comments These nasty surprises just keep coming when inflation is broadly entrenched in the economy.