DAX Index Remains Steady as German Inflation Stabilized
The German DAX stock index shows a slight movement today. The index increased by 0.04% and is trading at 12.988.50 level.
Inflation in Germany stabilized in September. The consumer price index (CPI) on an annualized basis increased by 1.8% in September, which coincided with the forecast of economists and was in line with the preliminary estimate. This was the highest level of inflation since April 2017, when it was 2%. The inflation rate increased by 0.1% on a monthly basis.
The ECB President Mario Draghi said he plans to maintain interest rates at a low level until the end of bond purchase program, which expires in December. It is expected, that the ECB will reduce the monthly purchases of bonds amounting to 60 billion euros at the October meeting on policy issues.