German inflation resumes downward trend in July
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| 📚 Daily Digest | Friday, Jul 28, 2023 | | |  | | | | Former Fed Chair Bernanke to review Bank of England forecasts | | |  | | © Reuters. | | Ben Bernanke, who chaired the U.S. Federal Reserve during the global financial crisis, will lead a review of the Bank of England's forecasting processes, the British central bank said on Friday. British lawmakers have criticised the failure of the BoE to forecast the scale of last year's surge in inflation, which hit a 41-year high of 11.1%, and last month the BoE said it would hold an externally led review to look for improvements. | | | | | | | | | | Today's Top News | | Stock Markets | | FTSE 250 movers: Vanquis Bank plunges after posting H1 loss | | The FTSE 250 company said adjusted profit before tax from credit cards totalled £33.9m in the period, down from £75.8m year-on-year, while vehicle finance generated £15.6m in profits, down from £20.2m. Personal loans recorded a loss of £9.3m - a slight improvement from a loss of £10.7m in the first six months of 2022. | | | | | Stock Markets | | Is IAG's record performance sustainable? | | British Airways owner International Consolidated Airlines Group (LON:ICAG) soared to new heights in the first half of 2023 but while the shares took off today they remain relatively grounded compared to pre-pandemic levels. Half-year profits flew to a record level as passenger traffic skyrocketed in the first half of 2023, boosted by pent-up travel demand and easing restrictions in Asia. | | | | | | | | | | | | | Economic Indicators | | German inflation resumes downward trend in July | | German inflation fell in July, resuming the decline since the start of the year that was interrupted the previous month due to the base effects in June's data. German consumer prices, harmonised to compare with other European Union countries, rose by 6.5% on the year in July, preliminary data from the federal statistics office showed on Friday. This follows a 6.8% increase in June. | | | | | | | | | | | |
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