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ECB Flummoxed By Abrupt Data U-Turn
A warm GDP release and now an inflation overshoot. Maybe the ECB should've waited for the hard data instead of rushing into another rate cut based on a smattering of poor PMIs, but what do I know? (Nothing. I know nothing. In the Socratic sense.)
Headline price growth in Europe rose three-tenths to 2% in October, Eurostat said Thursday. That was more than expected, although it's important to note that everyone knew the pace was set to pick up following a 0.9ppt drop over the space of just two m
