| Investors are betting the European Central Bank will raise interest rates to all-time highs, spurred on by the eurozone economy’s resilience and signs that inflation could prove tougher to rein in than expected.
“It is really surprising to see the ECB now looking like the most hawkish of the big central banks,” said Sandra Phlippen, chief economist at Dutch bank ABN Amro. Eurozone inflation of 8.5 per cent in January compares with 6.4 per cent in the US. While UK inflation remains in double digits, it has fallen faster than expected and the country’s anaemic growth outlook has diminished pressure on the Bank of England to increase rates.
Wages in the 20-country bloc have been growing at close to 5 per cent in recent months, according to a tracker published by the Irish central bank and jobs website Indeed.
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Source: FinancialReview - 🏆 2. / 90 Read more »