Renewed inflation shockers in Germany, France and Italy in October pour cold water on expectations that the ECB’s softer tone on rate hikes yesterday will pave the way for a “pivot”. We continue to expect persistently high inflation to prompt the ECB to hike rates further than most expect, to a peak of 3.0%.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.