Europe’s Inflation Worries
Country level CPI reads are flagging concern about rising inflation Europe-wide. NAB’s Gavin Friend says the market is already pricing in an ECB terminal rate of 4 percent, evidenced by bond movements overnight.
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Wednesday 1st March 2023
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There’s a growing concern that inflation is creeping back into Europe. That’s the case in France and Spain, with Germany’s CPI numbers out today and the Euro Area inflation print tomorrow. NAB’s Gavin Friend says markets are already pricing in a higher terminal rate, with the ECB’s Philip Lane talking up more rate hikes for longer. So how far will they go? Meanwhile, the Canadian economy has ground to a halt, and NAB has downgraded its forecast for Australian GDP today.
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