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2022/11/08 / Ceska Sporitelna Research

EU News Monthly November 2022

The European Central Bank increased the base interest rate by another 0.75 percentage points. It thus moved it to two percent, which is the highest level since 2009. By tightening monetary policy, the ECB is trying to get inflation under control.

EU annual inflation was 10.9% in September 2022, up from 10.1% in August. A year earlier, the rate was 3.6%. The lowest annual rates were registered in France (6.2%) and Malta (7.4%). The highest annual rates were recorded in Estonia (24.1%) and Lithuania (22.5%). Compared with August, annual inflation fell in six Member States, remained stable in one and rose in twenty.

Germany has approved its development plan in the field of electromobility. By the end of the decade, it intends to have a million public charging stations for electric cars. Now it has about 70,000.

In the EU, the government deficit to GDP ratio shrank from 6.7% in 2020 to 4.6% in 2021 (-2.1 percentage points, pp). Meanwhile, the government debt to GDP ratio decreased from 89.8% at the end of 2020 to 87.9% at the end of 2021 (-1.9 pp).

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General information

AuthorCeska Sporitelna Research
Date2022/11/08
Languageen
Product nameEU News Monthly
Topic in focusFX, Macro/ Fixed income
Economy in focusCzech Republic
Currency in focusCzech Koruna
Sector in focus-
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