MADRID, 23 Ago. (EUROPA PRESS) –
The price of the euro against the dollar has returned to below parity and is trading at its lowest level since February 2002 due to concerns about gas supplies and the prospects that point to a growing risk of recession in the euro zone, to the He hopes that at the end of this week representatives of the United States Federal Reserve and other central banks will meet in Jackson Hole.
In this way, the exchange rate for the euro against the ‘green ticket’ has come down this Tuesday to 0.9902 dollars from 0.9941 dollars at the close yesterday, which is the worst change in the European currency since February 2002.
In addition to the difficulties related to the supply of gas, this Monday the Bundesbank, the central bank of Germany, warned of the significant increase in risks that point to a contraction in GDP during the second half of the year, when inflationary pressures may increase to push the CPI to around 10% this fall.
“The probability that the GDP will decrease in the winter semester has increased significantly,” said the entity, which expects that the inflation rate will reach “new highs in the fall”, when price increases in the country could reach “the order of 10%”.
Last week, the German representative on the board of the European Central Bank (ECB), Isabel Schnabel, recognized that the signs pointing to a slowdown in growth in the euro zone open the door for the region’s economy to enter a technical recession , while it will probably take some time for inflationary pressures to dissipate.
In this way, with a view to the meeting of the Governing Council of the ECB next September, Schnabel was in favor of the entity acting decisively again, since, when looking at the most recent data, the concerns that were in July, when the central bank decided to undertake a 50 basis point rate hike, “they haven’t eased.”
