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Schnabel: Inflation In All Parts Of Economy

ECB
  • Bloomberg reports that Schnabel sees inflation pressure in “all parts” of the economy whilst policy normalisation is not harming the economy now, although the comments arrive against a backdrop of Eurozone consumer sentiment hitting record lows.
  • She spoke earlier today, noting the Eurozone economy is likely to stagnate not shrink and that we have to continue hiking, inflation may accelerate further in the short term.
  • Traders priced the deposit rate will rise to 3% by June early in the session before this cooled with OIS showing 2.92%, whilst near-term there is a 72bp hike price for the Oct 27 meeting.
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  • Bloomberg reports that Schnabel sees inflation pressure in “all parts” of the economy whilst policy normalisation is not harming the economy now, although the comments arrive against a backdrop of Eurozone consumer sentiment hitting record lows.
  • She spoke earlier today, noting the Eurozone economy is likely to stagnate not shrink and that we have to continue hiking, inflation may accelerate further in the short term.
  • Traders priced the deposit rate will rise to 3% by June early in the session before this cooled with OIS showing 2.92%, whilst near-term there is a 72bp hike price for the Oct 27 meeting.