While you were sleeping German CPI accelerates

Thu, 28 Nov 2013

By Margreet Dietz Nov. 29 (BusinessDesk) – Unexpected signs of accelerating inflation in Germany bolstered both European stocks and the currency as it underpinned optimism that the recovery in the region's largest economy might be gaining traction. Germany’s annual inflation rate picked up to 1.6 percent this month, from 1.2 percent in October. Economists had called for a steady rate at 1.2 percent in November. Earlier this month the European Central Bank surprisingly cut its key benchmark rate to a record-low 0.25 percent because it was co...

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