CPI Full Report
Euro area annual inflation was 0.4% in September 2016, up from 0.2% in August. In September 2015 the rate was -0.1%. European Union annual inflation was also 0.4% in September 2016, up from 0.3% in August. A year earlier the rate was -0.1%. These figures come from Eurostat, the statistical office of the European Union. In September 2016, negative annual rates were observed in ten Member States. The lowest annual rates were registered in Bulgaria (-1.1%), Croatia (-0.7%) and Slovakia (-0.5%). The highest annual rates were recorded in Belgium (1.8%), Estonia (1.7%) and Austria (1.1%). Compared with August 2016, annual inflation fell in nine Member States, remained stable in two and rose in sixteen. The largest upward impacts to euro area annual inflation came from restaurants & cafés (+0.08 percentage points), rents and tobacco (both +0.05 pp), while fuels for transport (-0.12 pp), gas (-0.11 pp) and heating oil (-0.10 pp) had the biggest downward impacts.
Interest Rate Decision Full Report Recording of press conference
“Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. We continue to expect them to remain at present or lower levels for an extended period of time, and well past the horizon of our net asset purchases. Regarding non-standard monetary policy measures, we confirm that the monthly asset purchases of €80 billion are intended to run until the end of March 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim.” Mario Draghi, President of the ECB Introductory statement to the press conference.
Theresa May’s comments at EU Summit
Watch her speech here
Commitment of Traders Report
The COT report released on Friday indicates a further increase in short positions, a further increase in long positions, a lower close price (as of last Tuesday) and a further decline in net non-commercial positions.
Upcoming Tier 2 and 3 Data Releases
Monday: Manufacturing PMI, Markit Composite PMI, Services PMI