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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Schnabel Not Ruling Out Further Rate Hikes
ECB's Schnabel has delivered a speech in St Louis in the US. Given the current monetary stance, Schnabel stated that inflation should be back to 2% by 2025. The long period to get inflation back to target reflected stickier underlying inflation conditions. Labor shortages and a higher proportion of service in aggregate activity are complicating factors from an inflation standpoint, Schnabel stated (RTRS).
- Two conditions have to be met to bring inflation back to the ECB's target, lower unit labor costs and firms have to absorb higher wages via profit margins.
- Inflation expectations are also fragile, while fresh supply side shocks (with the Middle East situation raised as one risk) could cause fresh destabilization to the inflation outlook. Therefore, the door to future rate hikes can't be closed (see this BBG link).
- Finally, the Euro area is stagnating but not in a deep recession.
To read the full story
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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.