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Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. "They almost certainly have to hike again this year because today's inflation data shows there's still more work to do." INFLATION WATCHGovernment bond yields in the euro zone rose broadly after inflation data suggested the ECB may still have to hike rates again. Germany's two-year bond yields rose 7 bps to 3.09% . Spanish inflation rose 2.6% in August, as economists polled by Reuters had expected.

Persons: Issei Kato, Patrick Armstrong, there's, SEB, Elisabet Kopelman, Jerome Powell's, Naomi Rovnick, Shashwat Chauhan, Mark Potter, Chizu Organizations: REUTERS, European Central Bank, ECB, Nasdaq, Wall, SEB Group, Fed, Reuters, Bank's, U.S, Treasury, Brent, Thomson Locations: Tokyo, Japan, Asia, Spain, North Rhine Westphalia, Germany's, United States, Gulf, Mexico, Bengaluru

On Wednesday, European shares nudged higher (.STOXX), while a gauge of Asian shares gained 0.35% (.MIAPJ0000PUS) and Japan's blue-chip Nikkei touched its highest in over two weeks (.N225). Spanish inflation rose 2.6% in August, as economists polled by Reuters had expected. Economists polled by Reuters expect the headline euro zone inflation rate to have moderated to 5.1% in August from 5.3% in July, still far above the European Central Bank's (ECB) 2% goal. Euro zone inflation has exceeded the target level for two years. Germany's two-year yield rose 7 bps to 3.099% after regional Germany inflation data.

Persons: Issei Kato, SEB, Elisabet Kopelman, Jerome Powell's, Europe's, Sylvia Ardagna, Ardagna, Germany's, Brent, Ankur Banerjee, Naomi Rovnick, Dhara Ranasinghe, Mark Potter Organizations: REUTERS, Nikkei, SEB Group, Fed, Reuters, Bank's, Barclays, ECB, Treasury, Thomson Locations: Tokyo, Japan, SINGAPORE, Asia, Spain, Germany, North Rhine Westphalia, Germany's

☆ Dollar holds near 7-month high vs yen on policy split; Swedish crown record low
▼ + stars: | 2023-06-29 | by ( Samuel Indyk | Kevin Buckland | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken June 15, 2022. The ministry of finance and BOJ intervened in the currency market last autumn when the dollar strengthened beyond 145 yen. “They’re expressing confidence that a faster rate of QT is going to deliver a stronger crown and I think that’s a bit unproven,” ING’s Turner said. The dollar added 0.1% to 7.2492 yuan in the offshore market, taking it close to the previous day’s 7-1/2-month low of 7.2694. The Russian rouble weakened past 87 against the dollar to a 15-month low, hampered by domestic political risk concerns after an aborted mutiny over the weekend.

Persons: Florence Lo, Jerome Powell, Kazuo Ueda, Ueda, “, BOJ, ”, Chris Turner, ING’s Turner, hasn’t, Russian rouble Organizations: U.S, REUTERS, Bank of Japan, ING, Reuters, People’s Bank of, Citi Locations: U.S, there’s, Spain, tomorrow’s, North Rhine Westphalia, Germany’s, People’s Bank of China, Russian

☆ Inflation up in German states, pointing to national rise
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 29 (Reuters) - Inflation rose in five economically important German states in the month of June, preliminary data showed on Thursday, suggesting a bumpy road ahead for German inflation. In May, inflation rates for those five states, out of 16 in Germany, stood at between 5.7% and 6.6%. National inflation data will be published at 1200 GMT, with economists surveyed by Reuters forecasting a 6.3% year-on-year rise, up from 6.1% in the previous month. June inflation data for the bloc is due on Friday. As a consequence, German inflation dipped in June 2022.

Persons: Maria Martinez, Balazs Koranyi, Friederike Heine, Toby Chopra Organizations: Reuters, European Central Bank, ECB, Thomson Locations: BERLIN, North, Rhine Westphalia, Bavaria, Brandenburg, Hesse, Baden, Wuerttemberg, Germany

BERLIN, May 31 (Reuters) - Inflation eased in five economically important German states in the month of May, preliminary data showed on Wednesday, suggesting that national price rises are set to slow to their lowest in more than a year. The inflation rate in North-Rhine Westphalia fell to 5.7%, while in Bavaria it slowed to 6.1%, in Brandenburg to 6.3%, in Hesse to 5.9% and in Baden-Wuerttemberg to 6.6%. In April, inflation rates for those five states, out of 16 in Germany, had been between 6.8% and 7.6%. National inflation data will be published at 1200 GMT, with economists surveyed by Reuters forecasting a 6.5% year-on-year rise. Furthermore, the base effects from high energy and food prices in May 2022 will disappear from the year-on-year comparison.

Persons: Luis de Guindos, Maria Martinez, Balazs Koranyi, Matthias Williams, Andrew Cawthorne Organizations: Reuters, European Central Bank, ECB, Thomson Locations: BERLIN, Rhine Westphalia, Bavaria, Brandenburg, Hesse, Baden, Wuerttemberg, Germany, Dutch

☆ German inflation expected to ease significantly in March
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

BERLIN, March 30 (Reuters) - Inflation is expected to ease significantly in Germany in March on the back of lower energy prices, preliminary data from six economically key states in the country showed on Thursday. The inflation rate in Brandenburg and Baden-Wuerttemberg fell to 7.8% year-on-year. In February, inflation rates for the six states had been between 8.3% and 9.2%. "It will directly raise inflation as local authorities will have to hike rubbish administrative fees and health insurers raise contribution rates to pay for the higher costs." While headline inflation slackens, core inflation - excluding energy and food - is expected to remain high.

☆ Strikes at German regional airports ground majority of flights
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Feb 27 (Reuters) - The majority of flights at Germany's Duesseldorf and Cologne Bonn regional airports were grounded by a 24-hour strike by the Verdi trade union on Monday, the airports said. Of Monday's usual 136 daily passenger flights scheduled for Cologne Bonn airport, only two were set to operate as scheduled. The union brought air traffic to a standstill earlier this month with one-day strikes at seven major airports, including the Frankfurt and Munich hubs, affecting nearly 300,000 passengers. Cities across the western state of North Rhine Westphalia, including Cologne, Leverkusen and Bonn, were also affected by public service worker strikes on Monday. Verdi and the German Civil Service Association are demanding 10.5% more pay for state employees, or at least 500 euros ($527.75) more a month.

Their messages show they knew the money paid for telecommunications equipment – despite European Union sanctions which restrict the supply of such gear to Russia's military. An EU regulation from Feb. 25, 2022 bans supplying or financing the purchase of certain goods for the Russian military. The office did not reply to a question about Schlund and Kolbasnikova helping buy gear for the Russian military. PROTEST ORGANISERSSchlund, who studied in a Russian military academy, moved to Germany in 2012. He later began a relationship with Kolbasnikova, who is originally from Ukraine and has worked in Germany as a nurse.

☆ Decline in German services sector eases, raising hopes for milder recession -PMI
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Wolfgang RattayBERLIN, Jan 4 (Reuters) - High inflation and economic uncertainty extended a downturn in the German services sector in December, though a slower pace of decline in activity adds to hopes of a milder-than-expected recession, a survey showed on Wednesday. S&P Global's final services Purchasing Managers' Index (PMI) rose to 49.2 from 46.1 in November. That marks the highest reading since July, when the current downturn began, and was slightly above a flash estimate of 49.0. The German composite PMI index, which comprises both the services and manufacturing sectors, rose to 49.0 in December from 46.3 in November, slightly above a flash reading of 48.9. December marked the sixth month in a row that the reading was below the 50 mark that separates growth from contraction.

Gareth Kaminski-Cook, CEO of Autins, which makes noise-reducing and thermal insulation for carmakers, gives a tour of the auto supplier's factory in Tamworth, Britain, May 3, 2022. Many auto suppliers, already squeezed by rampant inflation and energy prices, say they have little choice but to shoulder the extra costs of making their components sustainable to meet carmakers' environmental targets. "We're going to see a real big shakeout the next five, 10 years in the auto supply chain." The company, which is worth about $39 billion, launched its own sustainability drive in 2020 and is working on recyclable products with carmakers including Volkswagen, Volvo and BMW. Guell says carmakers only want to work with suppliers who use green energy, leaving him in a tight spot.

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