Interest Rate in Austria
Austria - Interest RateThe economy kept pace in Q1 thanks to resilient domestic demand benefiting from stronger fixed investment and private consumption growth. Household spending was supported by easing inflation and came despite upward-trending unemployment. Data on the second quarter, however, revealed a rocky start to the quarter: Consumer confidence, business sentiment and the manufacturing PMI all deteriorated in April. Meanwhile, the country is headed for early elections after Parliament passed a vote of no confidence in Chancellor Sebastian Kurz’s government on 27 May. This followed a leaked video which seemed to implicate Heinz-Christian Strache, then vice-chancellor and leader of the Freedom Party, the former junior coalition partner of Kurz’s conservative Austrian People’s Party. Despite the scandal, Kurz’s party were the clear winner in recent European elections, highlighting his popularity among the electorate.
Austria - Interest Rate Data
|Policy Interest Rate (%)||0.25||0.05||0.05||0.0||0.0|
5 years of economic forecasts for more than 30 economic indicators.
Austria Interest Rate Chart
Source: European Central Bank.
|Bond Yield||0.04||0.40 %||Jun 13|
|Exchange Rate||1.13||0.65 %||Jun 13|
|Stock Market||2,949||-1.00 %||Jun 13|
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May 30, 2019
Consumers were neither pessimistic nor optimistic in May, with the consumer confidence index rising to the neutral zero-point mark in May from minus 3 in April.
May 30, 2019
On 27 May, Austria entered unchartered political waters; for the first time in the country’s modern history has a chancellor (and his newly-installed technocratic government) been ousted from office by a Parliamentary no-confidence vote.
May 29, 2019
A second reading of national accounts data revealed that the economy grew at a faster pace than previously estimated in the first quarter of the year.
May 28, 2019
Bank Austria’s Purchasing Managers’ Index (PMI) moved further south of the neutral 50-point mark in May, as the index fell to an over four-year low of 48.3 (April: 49.2), indicating weakening economic momentum in the second quarter.
May 24, 2019
Industrial output in Austria dropped 1.0% over the previous month in March, swinging from February’s upwardly revised 1.4% increase (previously reported: +0.6% month-on-month).