Sterling near 2021 low as Fed hints at faster tapering; Covid wave hits German consumer confidence – business live
Rolling coverage of the latest economic and financial news
- Pound around lowest levels against US dollar this year
- Fed members ready to raise interest rates if inflation stays high
- German consumer sentiment hit by fourth Covid wave and inflation
- JP Morgan boss ‘regrets’ making joke about Chinese Communist party
Consumer confidence in Germany has been hit by the surge in coronavirus infections, and the jump in inflation hitting households this winter.
The GfK institute’s consumer sentiment index, based on a survey of around 2,000 Germans, fell to -1.6 points heading into December, down sharply from a revised 1.0 points a month earlier.
“Consumer sentiment is currently being squeezed from two sides.
On the one hand, the number of cases in the fourth wave of the coronavirus pandemic is exploding, which threatens to overwhelm the health system and could lead to further restrictions.
“The outlook for the upcoming Christmas season is now somewhat bleak.“
Source: Business – The Guardian