Wednesday, Nov 28, 2007
What's that gurgling noise? Ahhh, it's Ireland, Spain and Italy going down the pan!
Bloomberg: European Money-Supply Growth Accelerated in October
Money-supply growth in the euro region accelerated more than economists forecast in October to the fastest pace in more than 28 years, adding to the European Central Bank's inflation concerns.
M3 money supply, which the ECB uses as a gauge of future inflation, grew 12.3 percent from a year earlier, after gaining 11.3 percent in September, the Frankfurt-based bank said today. That's the highest rate since July 1979. Economists expected growth of 11.5 percent, according to the median of 35 forecasts in a Bloomberg News survey.
Posted by tyrellcorporation @ 07:51 AM (181 views) Add Comment
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