logo
ECB's de Guindos sees 'good news' on inflation amid trade fears

ECB's de Guindos sees 'good news' on inflation amid trade fears

Reuters28-03-2025

FRANKFURT, March 28 (Reuters) - The economic outlook for the euro zone is complicated by fears about a trade war with the United States but at least inflation is heading down towards the European Central Bank's 2% target, the ECB's vice-president, Luis de Guindos, said on Friday.
"We have good news on inflation," de Guindos told a Spanish event via video-link. "If there are doubts on economic growth, the disinflation process is continuing. We are convinced that in the next few quarters we'll achieve our definition of price stability, which is 2%, on a sustainable basis."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Scotland Office leads trade mission in Spain
Scotland Office leads trade mission in Spain

The Herald Scotland

timean hour ago

  • The Herald Scotland

Scotland Office leads trade mission in Spain

A total of 16 Scottish female entrepreneurs, led by UK Government Minister Kirsty McNeill and the Scottish Chambers of Commerce (SCC), will arrive in Madrid today. Their mission comes after a report, first covered by The Herald, found that trade in Scotland could increase by more than £10 billion over two years if women-led businesses exported at the same rate as those led by men. The Gender Export Gap Report, commissioned by the Scottish Government, found that if women who lead small and medium-sized enterprises exported at the same rate as male-led exporters, it could increase total turnover by between £2.1bn and £6.3bn over one year, with this potentially increasing to over £10bn over a two year period. Scotland Minister Ms McNeill has voiced she wants the UK to be 'a leader' in promoting gender diversity in international trade. Those involved, including the chief executive of Scottish Chamber of Commerce Liz Cameron, will meet with Spanish entrepreneurs, business leaders and politicians to address the Scottish gender export gap and promote Brand Scotland. Taking place through events in Barcelona and Madrid, ministers said the mission will help Scottish firms 'boost exports, inward investment and kickstart economic growth'. During her trip to Spain, Ms McNeill will also discuss future plans for two shipyards in Scotland with the CEO of Navantia UK, a Spanish ship building company which recently took over the British shipbuilder Harland & Wolff. It currently runs operations across four UK sites including Methil and Arnish in Scotland. READ MORE: 'Scottish trade could create billions through women-led businesses' What Keir Starmer's new UK–EU agreement means for Scotland Figures from last year show Spain is the UK's seventh largest trading partner and it is Scotland's 10th with total trade in goods and services (exports plus imports) being £64.6 billion. The UK is the number one European destination for Spanish investment (€83 billion stock). On Tuesday in Barcelona, the Minister will also meet the President of Catalonia, Salvador Illa to discuss new opportunities for trade and investment for both the UK and Spain. This visit marks the first Brand Scotland trade mission since the signing of a partnership agreement between the Scottish Chambers of Commerce and the Scotland Office on Friday. The deal, backed by a £100,000 UK Government grant, is focused on showcasing Scottish businesses globally and attracting inward investment. UK Government Scotland Office Ms McNeill said: "I'm very proud to be teaming up with the Scottish Chambers of Commerce and fantastic Scottish women entrepreneurs on a trailblazing mission to Spain to help kickstart economic growth, create jobs and attract investment to Scotland as part of the UK Government's Plan for Change. "I want the UK to be a leader in promoting gender diversity in international trade and this is a unique opportunity for our women business leaders to build international connections, explore market opportunities, and connect with other female entrepreneurs in one of Scotland's and the UK's largest EU markets. "Through Brand Scotland, we are now giving our country the global platform it deserves." Last year, Scotland's goods exports to Spain reached £0.7 billion, with food and drink leading the way at over £212 million. Most recent figures show that Spain was the number six export destination for Scotch whisky, with sales worth £196 million in 2024. Spain is also among the most valuable destinations for Scottish seafood exports, including a top 20 destination for Scottish salmon exports. Chief Executive of the Scottish Chambers of Commerce Dr Liz Cameron CBE said: "This trade mission marks a bold step forward in advancing Scotland's global trade ambitions. "By connecting some of our most dynamic women entrepreneurs and leaders with key players in Barcelona, we are opening new doors of opportunity, innovation, and growth. "Scotland's businesswomen are global in their outlook, ambitious in their vision, and ready to lead the way in forging deeper connections around the world. 'The collaboration between the Scottish Chambers of Commerce and Scotland Office is a powerful partnership which will boost business growth, increase exports, and champion Scotland as a world-leading trading nation. "This mission expands our market access and ensures the future of our business community is more representative, resilient, and internationally competitive." The mission follows the Prime Minister Sir Keir Starmer securing an agreement with the European Union last month which aimed at resetting relations after post-Brexit disruption. The deal includes an extension of EU fishing rights in UK waters until 2038. This 12-year continuation maintains current access arrangements, which were initially set to expire in 2026. The UK Government argues that the move provides stability and certainty for the fishing sector. However, Scottish fishing communities and the Scottish Government have voiced strong opposition. The agreement also includes a Sanitary and Phytosanitary (SPS) Agreement, which aligns UK food safety and animal health standards with those of the EU. This alignment is expected to eliminate most routine border checks on animal and plant products between Great Britain and the EU. It will also permit the export of some previously restricted products, including burgers and sausages, back into the EU market. For Scotland, this is significant, facilitating smoother exports for key sectors such as seafood and agriculture. However, it also means that the UK, including Scotland, must adhere to evolving EU regulations in these areas.

China's consumer prices extend decline for fourth month in May
China's consumer prices extend decline for fourth month in May

Reuters

time4 hours ago

  • Reuters

China's consumer prices extend decline for fourth month in May

BEIJING, June 9 (Reuters) - China's consumer prices fell for a fourth straight month in May while producer deflation deepened, as the economy faces headwinds from trade tensions and a prolonged housing downturn. The consumer price index dipped 0.1% last month from a year earlier, versus a 0.1% drop in April, National Bureau of Statistics data showed on Monday, slightly better than a Reuters poll forecast of a 0.2% decline. CPI slid 0.2% on a monthly basis, compared with a 0.1% increase in April, and matched economists' predictions of a 0.2% decline. The producer price index was down 3.3% in May from a year earlier, worse than a 2.7% decline in April and the deepest contraction in 22 months. That compared with an estimated 3.2% fall in a Reuters poll.

Elon Musk has PTSD & made a MISTAKE by helping Trump, his dad claims as he reveals verdict on what caused explosive feud
Elon Musk has PTSD & made a MISTAKE by helping Trump, his dad claims as he reveals verdict on what caused explosive feud

Scottish Sun

time18 hours ago

  • Scottish Sun

Elon Musk has PTSD & made a MISTAKE by helping Trump, his dad claims as he reveals verdict on what caused explosive feud

ELON Musk has "White House PTSD" and thinks he made a mistake by helping Trump get reelected, his dad has claimed. Errol Musk, 79, made the explosive remarks in Moscow, where he's set to appear at a Kremlin-backed forum organised by Putin's inner circle. Advertisement 9 Errol Musk claims his son Elon has 'PTSD from the White House' Credit: East2West 9 Musk Snr also believes the Tesla boss regrets helping Trump get reelected Credit: Reuters 9 Errol is currently in Moscow to appear at a Kremlin-backed forum Credit: East2West 9 Elon reportedly donated $288 million to Trump's 2024 campaign Credit: AFP It comes just days after his billionaire son's high-profile alliance with the US President imploded in a fierce online feud. The world's richest man — who reportedly donated $288 million to Trump's 2024 campaign and briefly served as a White House aide — has now turned on the president over his sweeping tax and spending bill. Elon even claimed on X that Trump was tied to disgraced paedophile Jeffrey Epstein, though the post was later deleted and the White House dismissed the allegation outright. Their bromance is now beyond repair. Advertisement On Sunday, Trump confirmed to NBC that he has no interest in making amends: 'I would assume so, yeah,' he said when asked if their relationship was over. 'I have no intention of speaking to him.' Now, the Tesla and SpaceX boss is said to be grappling with regret and fatigue from his turbulent stint in Washington. Musk Snr told Putin-controlled media: 'So at the moment, Elon is inclined to say that he's made a mistake.' 'Trump will prevail. He's the president, he was elected as the president. Advertisement 'Elon made a mistake, I think, but he's tired, he's stressed. He added: 'Five months of continuous stress, continuous, continuous stress, stress, stress. Trump crushes 'peace talk' hopes with Musk as he insists Elon has 'lost his mind' and 'vows to get rid of his Tesla' 'And then in the end, it's just him and Trump left… They still don't know what to do, so they fight with each other until they can come to normal conditions.' The South African businessman likened the split to a "marriage going wrong" and suggested his son was out of depth in the brutal political arena. Advertisement He told Russian outlet Izvestia: 'It happens in marriages, it happens in partnerships, it happens a lot . 'And people have to understand that at the moment, Elon is having second thoughts... 'He's not a great politician, he is still learning, he's a great tech innovator and so forth. 'But his politics is, as I've said before, is a swimming pool with no bottom, it's a swimming pool with no sides. Advertisement 'When you're in a swimming pool of politics, you've got to really know where to go. 'And he [Elon] doesn't realise that.' 9 Errol made the explosive claims on Putin-controlled media in Russia Credit: East2West 9 He said his son had a very stressful five months Credit: East2West Advertisement Errol added that Elon had been trying to "get everything right" with a recent bill, but clashed with Trump over what he saw as excessive Democratic spending concessions. 'But unfortunately, he doesn't realise that in order to get their votes in the Senate and the Congress, Trump has to do that,' he said. 'They are the only two people left in the arena… and they took to each other, which is understandable.' Errol's comments were made to Tsargrad TV — owned by Konstantin Malofeev, a businessman with alleged links to Russian military intelligence. Advertisement He praised Moscow, saying: 'Whoever designed this city is a true genius. These majestic buildings remind me of Ancient Rome.' He also dismissed Western portrayals of the Russian capital as 'nonsense.' 9 Trump and Musk's bromance fell through in a spectacular public feud online Credit: AFP 9 The feud erupted over Trump's 'big, beautiful bill,' which proposed stripping billions in government subsidies from Tesla Credit: AP Advertisement Errol will speak at the Future Forum 2050, organised by Malofeev and Putin ideologist and 'philosopher' Alexander Dugin. Meanwhile, Russia appears eager to capitalize on Musk's estrangement from the US political elite. Putin crony Dmitry Medvedev cheekily offered to mediate peace talks between 'D and E' — Trump and Elon— 'for a reasonable fee and to accept Starlink shares as payment.' Another Kremlin loyalist, ex-space chief Dmitry Rogozin, publicly offered Musk asylum. Advertisement 'You are respected in Russia. If you encounter insurmountable problems in the US, come to us and become one of us,' Rogozin wrote. Russia would offer him 'reliable comrades and complete freedom of technical creativity'.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store