Euro zone consumer sentiment continues to creep higher, according to the latest figures released from the European Commission Wednesday.
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The Organization of Economic Cooperation and Development will release their global growth forecast figures on Tuesday, along with U.S. existing home sales and Euro zone consumer confidence survey results.
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European markets rose, with the Stoxx Europe 600 up 0.2%, after data showed improving business and consumer confidence across the euro zone.
Draghi added that the central bank had looked at consumer price inflation in the euro zone over two to five years in order to make the decision, and the rate hike had also been a response to lower purchasing power.
Danone is bracing for a slow recovery of its European business, highlighting the growing pressure on consumer-product companies from the euro zone's deepening economic malaise.
As a result, real incomes and hence consumer spending have grown more sluggishly in the euro zone.
Separately, consumer price inflation fell in December across the euro zone.
In economic news, the euro zone experienced deflation for the fifth consecutive month as consumer prices fell by 0.1% in October, according to Eurostat, the European Union's statistical agency.
In other news, European Union consumer and business confidence declined in the latest month, in another sign the Euro zone economy is remains in the dumps.
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European stocks ended a bumpy session in the black Tuesday, underpinned by stronger-than-expected U.S. consumer-confidence data, a well-received Italian bond auction and hope that euro-zone policy makers will make progress in tackling the region's debt crisis.
The European Central Bank (ECB) has set a 2% inflation comfort zone and raised benchmark interest rates to 3.25% this month to tackle rising consumer prices.
Consumer Confidence has been rising from below 50 readings, but the 90 to 120 range is the neutral zone.
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It has revolutionized consumer credit in India, for example, where private households own more gold bullion than even the euro zone states added together.
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The Grey Zone lawsuits are symptoms of a far more significant effort by the government of Japan to regulate consumer finance more strictly and ultimately impose ceilings on interest rates somewhere between 10 and 15 percent.
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