The monetary authority has explained that it plans to continue raising rates after this large increase – the highest so far – because “inflation remains too high and is likely to remain above target for an extended period”.
The latest eurozone HICP inflation figures surprised on the upside, coming in at 9.1% in August, up from 8.9% in July, and setting a new record since the creation of the euro.
The economy already rebounded in June when lockdowns were lifted. Manufacturing PMI moved to 50.2 from 49.6, while both CAPEX and retail sales growth accelerated.
The global economy and the corporate sector are currently being hit by a long list of problems: the ongoing pandemic, fragile value chains, high inflation rates, monetary tightening, and the war in Ukraine.
The next decade will be the age of digitalisation of production, sustainable energy production, the use of artificial intelligence in various fields, and the electrification of transportation.
The investment strategy of the new sub-fund, which is being launched with a starting investment volume of almost USD 90 million, is comparable to the successful MainFirst – Global Equities Unconstrained Fund.