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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.
MNI Eurozone Inflation Preview – August 2023
MNI Eurozone Inflation Preview – August 2023
EXECUTIVE SUMMARY
Progress, But ECB’s Job May Not Be Done
The upcoming round of Eurozone inflation prints for August (Aug 30-31) will arguably play the key role in deciding whether the ECB decides to hike rates at the September meeting (currently just under 50% probability of a 25bp raise, per market pricing).
- Eurozone headline HICP is seen softening to 5.1% Y/Y from 5.3% in August - with core at 5.3% vs 5.5% prior.
- August flash data in line with consensus is seen providing support for a pause in the ECB deposit rate at 3.75%.
- The more dovish ECB elements may point to a reduction in momentum in inflation in recent months, including in key underlying metrics (see report for MNI’s analysis).
- Our preview includes analysis of several key areas to watch, short outlooks for the national inflation prints prior to the eurozone release, and sell-side analyst previews.
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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.
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