Germany August CPI confirms 2.9% as energy costs pressure inflation
Germany's final August CPI confirmed 2.9% y/y, as energy price inflation surged 10.5%.
Germany's final August CPI confirmed 2.9% y/y, as energy price inflation surged 10.5%.
ING expects a 25bp ECB hike across all scenarios, with the guidance tone set to move markets.
European shares fell as Brent crude topped $100 a barrel, with inflation fears and Middle East tensions weighing on markets.
ECB is expected to deliver a 25 bps rate hike to 2.50%, with markets focusing on Lagarde's press conference for future policy clues.
MUFG sees ECB hike this week, highlights euro downside risk from Lagarde's comments, German elections, and gas prices.
Eurozone Q2 GDP was revised up to 0.6% q/q on trade, with annual growth at 1.2%, but underlying domestic demand remained soft.
Eurozone Sentix investor confidence index rose to 5.1 in September, its highest since February 2022.
Eurozone retail sales fell 0.6% m/m in July, and EU sales declined 0.4%. Year on year, euro area rose 0.6% and EU rose 1.0%.
Eurozone PMIs for August held steady, with growth matching July's pace and price pressures remaining elevated.
Bond yields in major economies hit multi-year highs, signalling a shift to higher-for-longer interest rates amid persistent inflation and fiscal deficits.
ECB's Makhlouf says the upcoming rate decision will not surprise markets, and policy only becomes restrictive above 2.75%. He also indicates further hikes may…
ECB's Nagel said the global economy remains on a growth trajectory despite Middle East tensions and welcomed coordinated JPY intervention.
Eurozone annual inflation rose to 3.3% in August, driven by energy prices, while core inflation eased to 2.4%.
Eurozone August CPI meets forecast at 3.3% y/y; core inflation eases more than expected to 2.4%. Energy costs jump 14.3%.
Eurozone August headline inflation expected to rise to 3.3%, core steady at 2.5%. ECB seen hiking rates.