Expectations – Coin Network News https://coinnetworknews.com If it's coin, it's news. Fri, 12 May 2023 13:03:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says – Finance Bitcoin News https://coinnetworknews.com/inflation-expectations-of-eurozone-consumers-increased-significantly-ecb-says-finance-bitcoin-news/ https://coinnetworknews.com/inflation-expectations-of-eurozone-consumers-increased-significantly-ecb-says-finance-bitcoin-news/#respond Fri, 12 May 2023 13:03:53 +0000 https://coinnetworknews.com/inflation-expectations-of-eurozone-consumers-increased-significantly-ecb-says-finance-bitcoin-news/
Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says

Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority slowed the pace of its rate hikes last week while indicating that it’s still early for a pause.

ECB Registers Heightened Consumer Expectations About Inflation

Europeans believe inflation will be around 5% over the next 12 months with their median expectations rising “significantly” in March from 4.6% in February, the European Central Bank (ECB) announced on Thursday, quoting its latest Consumer Expectations Survey (CES).

The poll has been conducted before the ECB’s decision to raise interest rates by 25 basis points last week. Despite slowing the pace of rate hikes, the regulator argued that while inflation has declined, underlying price pressures remain strong, signaling further raises are likely.

“Uncertainty about inflation expectations 12 months ahead reached its highest level since the start of the survey in April 2020,” the central bank noted in a press release. Expectations for inflation in the next three years also increased, to 2.9% from 2.4%.

At the same time, consumers expected their nominal income to increase by 1.3% over the next 12 months, compared to 1.2% in the previous survey. Expectations for nominal spending growth over the next year increased to 4.1%, from 3.9% in February.

European expectations for economic growth over the next 12 months became slightly more negative, the ECB remarked, declining to -1.0%, from -0.9%. The expected unemployment rate for the same time period rose to 11.7% from February’s 11.5%.

The CES is a monthly online survey of 14,000 consumers, aged 18 or over, from six euro area countries: Belgium, Germany, Spain, France, Italy, and the Netherlands. The ECB uses its results for policy analysis. The latest data supports the views of some members of its Governing Council who have maintained that further rate hikes are warranted by persisting inflation in the eurozone.

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Central Bank, Consumers, ECB, Euro, euro area, Europe, European Central Bank, Eurozone, Expectations, growth, hikes, income, inflation, interest rates, Prices, rate hikes, rates, Survey

Do you think consumer expectations about inflation in the eurozone will decrease in the next surveys? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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]]> https://coinnetworknews.com/inflation-expectations-of-eurozone-consumers-increased-significantly-ecb-says-finance-bitcoin-news/feed/ 0 Bitcoin (BTC) Price Dips as U.S. Adds 253K Jobs in April, Topping Expectations for 180K https://coinnetworknews.com/bitcoin-btc-price-dips-as-u-s-adds-253k-jobs-in-april-topping-expectations-for-180k/ https://coinnetworknews.com/bitcoin-btc-price-dips-as-u-s-adds-253k-jobs-in-april-topping-expectations-for-180k/#respond Fri, 05 May 2023 15:53:38 +0000 https://coinnetworknews.com/bitcoin-btc-price-dips-as-u-s-adds-253k-jobs-in-april-topping-expectations-for-180k/

While Friday morning’s headline jobs number is a strong one, downward revisions to February (to 248,000 from 326,000) and March (to 165,000 from 236,000) knocked a total of 149,000 in gains from those two reports. The average job gain over the past three months is 222,000.

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]]> https://coinnetworknews.com/bitcoin-btc-price-dips-as-u-s-adds-253k-jobs-in-april-topping-expectations-for-180k/feed/ 0 Coinbase share price spikes 7.9% as Q1 results beat expectations https://coinnetworknews.com/coinbase-share-price-spikes-7-9-as-q1-results-beat-expectations/ https://coinnetworknews.com/coinbase-share-price-spikes-7-9-as-q1-results-beat-expectations/#respond Fri, 05 May 2023 01:01:34 +0000 https://coinnetworknews.com/coinbase-share-price-spikes-7-9-as-q1-results-beat-expectations/

Crypto exchange Coinbase managed to significantly narrow its net loss in the first quarter of 2023, due in part to robust earnings from retail investor trading activity.

The company’s net loss fell from $557 million in Q4 2022 to $79 million in Q1, partly attributed to a 22% increase in revenue to $736 million.

The results beat expectations from some analysts, leading to a 7% spike in Coinbase’s (COIN) share price in after hours trading.

Coinbase’s (COIN) share price. Source: Google Finance.

Transaction revenue — derived from fees its charges for trades — from its institutional base increased a whopping 66% to over $22.3 million, while transaction revenue from retail investors increased14.1% to $352.1 million, according to Coinbase’s May 4 shareholder letter.

Overall, revenue from transactions increased 16% quarter-on-quarter to $375 million, though trading volumes remained fairly flat.

Interest income and blockchain rewards from staking brought in the most revenue for the quarter, which increased to $240.8 million and $73.7 million respectively from Q4 2022.

Coinbase’s revenue for the first quarter of 2023. Source: Coinbasewo 10 / ch 66

The percentage of revenue from Bitcoin (BTC) (36%) and Ether (ETH) (18%) trades remained almost identical over the quarter.

The firm is inching closer to profitability following a tumultuous 2022 which saw overall net losses of $1.16 billion, $803 million, $576 million and $605 million across each respective quarter last year.

Coinbase explained that the quarter represented a “turning point” towards building a more “efficient” and “financially disciplined” firm:

“We reduced costs, doubled down on operational excellence and risk management, and continue to drive product innovation and regulatory clarity. Our efforts are showing meaningful progress.”

“Our teams are smaller, but more nimble than ever and we are pleased with the pace of innovation and the results we are seeing,” the firm added.

Coinbase cut staff by 18% in June, 2022 and then another 20% in January, 2023 in order to ensure the firm maintains an appropriate level of “operational efficiency,” Armstrong explained.

Related: Coinbase International Exchange launches amid SEC crypto crackdown in the US

Coinbase’s comments were made in light of the Wells Notice hanging over their heads from the United States Securities Exchange Commission (SEC):

“We see this as an opportunity to continue pushing for a clear rule book in the US for crypto regulations.”

The firm said it is “heartened” to see more bi-partisan support for incoming crypto legislation and hopes to play a role in advocating for a rules-based industry.

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?