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German Wholesale Prices Slip Lower, Supporting the ECB's Dovish Outlook
Tuesday, 11 November 2008 06:04:01 GMT
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The German Wholesale Price Index fell 1.5% in October despite expectations for a 0.9% decline. In addition, the annual rate slipped to 3.6% from 5.8% as commodity prices continue to pull back from their record highs. Easing price pressures will certainly allow the European Central Bank to hold their dovish outlook, and may lead policy makers to lower borrowing costs even further over the coming months as the Euro-Zone teeters on the brink of a recession. Moreover, ECB President Trichet reiterated his dovish bias as he stated that a potential rate cut in December remains a possibility.
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