European stocks higher; German inflation retreats, China cuts interest rate
dropped 1.1% on the month in July, a hefty annual fall of 6.0%, an indication that inflationary pressures are retreating in the eurozone’s dominant economy.
Economic difficulties in Germany are acting as a major drag on growth in the eurozone as a whole and threatening to push it into ahinted at a pause of the central bank’s prolonged hiking cycle at its last meeting in July, and her speech at Jackson Hole on Friday will be carefully parsed for clues on the central bank’s next move in September.
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