Dusseldorf The German stock market gave back its gains on Wednesday and closed 0.4 percent down at 15,305 points. In addition to the high preliminary inflation rate for Germany, the prices on the US stock exchanges also weighed on the mood, which tended to be weaker until the close of trading in Frankfurt.
It is still too early to sound the all-clear on the inflation front. The provisional inflation rate in Germany for February is 8.7 percent, up 0.8 percent on the previous month. The economists surveyed by the Reuters news agency had expected 8.5 percent.
Michael Heise, chief economist at HQ Trust, is therefore certain: “The high inflation in Germany, but also in other countries in Europe, should seal the next interest rate hike of 50 basis points, which has already been announced in principle”.
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