Too early to say if this will alter the European Central Bank’s rate outlook
Finally some slowing inflation numbers come out of the Eurozone with CPI across the region recording a 10% year-on-year advance versus 10.6% last month and against estimates of a 10.4% advance. This came about principally through softer energy costs. While it might be too premature to call a victory over surging inflation, the direction and delta of travel is positive at least. It is probably too early to say if this will alter the European Central Bank’s rate outlook due in a few weeks’ time with core inflation remaining stubbornly sticky.
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