ECB survey shows steadying inflation
expectations
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[December 05, 2023]
FRANKFURT (Reuters) -
Inflation expectations among euro zone consumers held steady last month
while the outlook for economic growth worsened, the European Central
Bank said on Tuesday, based on its October consumer expectations survey.
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A view of the European Central Bank (ECB) headquarters in Frankfurt,
Germany March 16, 2023. REUTERS/Heiko Becker/File Photo |
The
ECB raised interest rates to a record high earlier this year to
dampen price pressures but signalled steady rates for the next
several months, suggesting that its next move would be a cut.
Median expectations for inflation over the next 12 months held
at 4.0,% while for three years ahead stood at 2.5%, both above
the ECB's own 2% target.
Economic growth expectations for the next 12 months were
meanwhile downgraded to -1.3% from -1.2% a month earlier.
Markets already see an ECB rate cut in March and see a total of
143 basis points of reduction in 2024.
(Reporting by Balazs Koranyi; Editing by Alex Richardson)
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