Market commentary with Joachim Döring

Our experts don’t only monitor the capital markets intensively, but are also active market participants in the interest of our clients on a daily basis. Here you can regularly find the latest market commentary of our expert Joachim Döring, Head of Wealth Management.

27. January 2023

Inflation quo vadis?

This week, the stock markets will once again revolve around the topic of monetary policy. On Wednesday evening, the US Federal Reserve will announce its interest rate decision. Since inflation on the other side of the Atlantic has been falling for half a year, it is possible that the key interest rates will no longer be raised by 0.5 percent, but only by 0.25 percent. Markets would be happy to hear this news, as it shows that the bulk of the rate hikes are already over. On Thursday afternoon, the ECB will then announce its next interest rate step. It would be a surprise if it wasn't a 0.5 per cent increase. More exciting than the rate hikes themselves, however, will be the outlook for the coming months at both central banks. Falling energy prices could soon lead to a decline in inflation in the euro area as well. In conjunction with the expectation of weaker economic data, it is therefore worth speculating whether the ECB will raise its key interest rates by only 0.25 per cent in mid-March. Stay healthy!

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Joachim Döring