Free Trial

MNI BRIEF: EZ Inflation Beat Adds To Pressure On ECB

(MNI) London

No relief for ECB policymakers in the latest flash eurozone inflation data, as the headline number soars to a fresh multi-decade high of 9.1%, up from 8.9% in July and ahead of market expectations of an increase to 9.0%.

Of more concern to the ECB will be the accelerated to 4.3% -- well in advance of expectation -- of the core reading. This will give further ammunition to the hawks looking for as much as a 75 bps hike at the next policy meeting on September 8.

European government bonds traded to session lows on the data releases.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
True
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.