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Set Sail for Safe Harbour
The ECB raised rates last week to 2.5% despite slowing growth citing rising inflation as the key driver for the decision. Lower growth and higher inflation smells of deflation, the worst possible economic outcome!
Energy prices have risen 14.3% in the Eurozone this year pushing the CPI to 3.3% for August. This is lower than the 3.4% headline number print in the US putting intense pressure and focus on the Fed for this Wednesday’s FOMC decision on rates.
Wil they? Won’t they – Investors have been chasing their tails for the last month trying to forecast direction of travel on US rates. Our…
The skinny
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