Milan – European listings continue to close par after a positive start. Spelling moods are mainly associated with interjection Christine Lagarde, who reiterated this morning that the central bank plans to raise interest rates in July. In Asia, on the other hand, the trend was mixed, with Hong Kong doing well and Tokyo instead closing at -0.49%.
Tajani: “Disappointed with Lagarde, there is a risk of a recession”
“I don’t think it’s in the interest of growth to continue to raise interest rates, especially as I don’t agree with the announcements that were made long before the rate hike. I was a bit disappointed by the statement of Chair Lagarde, who announced today that she will also raise interest rates in July,” and “when rates are so high there is a risk of a recession and that certainly should not happen.” This was stated by the Deputy Prime Minister and Minister of Foreign Affairs, Antonio Tajani, speaking at the Confederation Conference. “We are suffering from inflation not due to an internal factor like in the USA, so yes, it is right to raise interest rates there, but our inflation is derived from something related to raw materials, especially because of the war on our borders,” Tajani continued. “Today, she means The increase in the cost of money puts the business in difficulty, because entrepreneurs who have initiative and who want to invest, are forced to obtain loans at a very high cost, abandon their projects and wait for better times. Unfortunately, we can” He concluded that in order not to lose time in terms of workers, we cannot give up work. When rates are too high, there is a risk of stagnation and this should not happen at all. “
Lagarde: “It is unlikely that we would say the maximum level of rates”
“It is unlikely that in the foreseeable future the central bank will be able to declare with absolute certainty that cap rates have been reached.”
This was stated by the President of the European Central Bank, Christine Lagarde, at the Central Institute Forum in Sintra. “Our monetary policy decisions should be determined from time to time at each meeting and continue to be guided by the data,” he said, noting that “two sources of uncertainty influence the desired ‘level’ and ‘duration’ of our monetary policy interest rates.”
Lagarde: ‘Raise rates again in July’
“Our work is far from over. Barring a fundamental change in inflation expectations, we will continue to raise interest rates in July.” This was stated by the President of the European Central Bank, Christine Lagarde, speaking at the Central Institute Forum in Sintra (Portugal). He added that “the overall impact of the 400 basis point interest rate hike that was approved since last July has not yet been fully realized.”
European stock markets open higher
Increased opening for major European stock exchanges. In Frankfurt, the Dax rose 0.36% to 15,869.45 points, and in London, the FTSE 100 rose 0.53% to 7,493.40.
In Paris, the Cac 40 index rose 0.52% to 7221.46 points, and in Madrid the Ibex-35 index rose 0.56% to 9325.50 points. In Milan, the ESF Mib registered +0.54%.
growth oil
Oil prices are on the rise this morning in commodities markets: A barrel of WTI for August delivery is trading at $69.93, a growth of 0.81%, while Brent for August delivery is $74.71 a barrel, an increase of 0.71%. .
Gas down a bit
Gas prices fell slightly in the Amsterdam market, a nod to Europe: methane futures for July delivery opened 1% lower at €31.6 per MWh.
“Infuriatingly humble social media buff. Twitter advocate. Writer. Internet nerd.”
