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11.12.2013 19:20

American focus : the euro rose against the dollar

The euro rose against the dollar, helped by a report on Germany. Final data , which were presented to the Federal Statistical Office showed that inflation in Germany, agreed to the procedure of the EU , has increased markedly in November , and confirmed preliminary estimates.

According to the report , inflation in accordance with the harmonized consumer price index rose to 1.6 percent in November from 1.2 percent in October . November figure corresponded to preliminary estimates . On a monthly basis the harmonized index of consumer prices increased in November by 0.2 percent , compared with a decline of 0.3 percent in the previous month . The result was in line with a preliminary estimate .

Meanwhile, the Department of Statistics reported that the consumer price index rose in November by 1.3 percent per annum , and confirmed earlier estimates and forecasts of experts . This followed growth of 1.2 percent in October . On a monthly basis , consumer prices rose by 0.2 percent , which corresponds to the initial estimates , and the expectations of economists. Recall that in October , prices fell by 0.2 percent.

Pound declined significantly against the dollar, despite the fact that Britain's economic calendar is empty today . Add that many market participants were waiting for the intervention of the Bank of England Huila .

The recent rise in inflation expectations among Britons is not a cause for concern , said Will. In August, representatives of the Bank of England pledged not to raise key interest rate until the unemployment rate in the UK has been reduced to 7% threshold , which, according to representatives of the Bank is unlikely to be achieved until 2015 , although the condition of these guidelines was that inflation expectations are stable.

Weale said that only if the recent rise in inflation expectations would be sustainable, it will come to the conclusion that the reference did not load. In his speech, Weale said that benchmarks stimulate the UK economy , but their effects are likely to moderate. According to him, if you want to increase the Bank's representatives to stimulate the UK economy as the main tool for this is to buy assets. For three years the Bank of England quantitative easing bought assets at 375 billion pounds ( 616.5 billion U.S. dollars) , mainly government bonds.

In addition, the course of trade continued to influence yesterday's statement of the Bank of England Governor Mark Carney , who noted that the UK economy needs further political support and promised to remain vigilant about the risks for the housing market . "We need to provide more incentives but these incentives can create risks" - Carney said . "We have to take other measures to reduce these risks. If we do not, we can create a big problem in the future, or we will have to pull back too soon from the current monetary policy , which we planned to spend . "

"Now begins the real recovery ," - said in an interview with Carney . - " We are faced with strong headwinds from Europe, the problems associated with currency, and on the current borrowing households. Also enterprise until you start to invest or do believe in the economic recovery . "

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