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ECB Pricing Shrugs With Final HICPs In Line

EUROZONE
No market reaction to the final Eurozone inflation data for July which were in line with expectations for unchanged main aggregate measures vs the flash estimates.
  • Minor revisions lower to some categories (including 0.1pp to Services M/M) weren't seen as impacting the September ECB decision with hike pricing remaining steady at 13bp.
  • Bunds are unmoved, with EURUSD perhaps a pip or two lower.

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