External broker reports(aggregated public sources), Nordea

Nordea

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External broker reports(aggregated public sources)

Macroeconomics

<ul><li>The ECB had clearly stated that inflation was expected to rise towards year-end due to base effects, yet markets reacted to higher inflation in Germany and Spain yesterday.</li><li>Because what matters most to the ECB, we think, is the seasonally-adjusted momentum in core services prices, and those were also the ones that increased in yesterday’s German release.When we’re still not too worried, it is because those increases were likely temporary, driven by two specific categories, and because of the news from the German car industry about factory closures, adding weakness to the labour markets going forward and lowering the risk to too high wage growth.</li><li>Most ECB speakers including President Lagarde have argued that inflation victory is within sight.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The ECB had clearly stated that inflation was expected to rise towards year-end due to base effects, yet markets reacted to higher inflation in Germany and Spain yesterday.Because what matters most to the ECB, we think, is the seasonally-adjusted momentum in core services prices, and those were also the ones that increased in yesterday’s German release.When we’re still not too worried, it is because those increases were likely temporary, driven by two specific categories, and because of the news from the German car industry about factory closures, adding weakness to the labour markets going forward and lowering the risk to too high wage growth.Most ECB speakers including President Lagarde have argued that inflation victory is within sight.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Euro-Area Flash Inflation: Back to Target