ECB Rate-Cut Bets Jump as France, Spain Inflation Sinks Below 2%

Bloomberg09-27

(Bloomberg) -- Inflation in France and Spain plunged below 2% — fueling predictions by investors and economists that the European Central Bank will speed up the pace of interest-rate cuts. Most Read ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nECB Rate-Cut Bets Jump as France, Spain Inflation Sinks Below 2%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-27 17:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/french-spanish-inflation-sinks-below-071003034.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Inflation in France and Spain plunged below 2% — fueling predictions by investors and economists that the European Central Bank will speed up the pace of interest-rate cuts.\nMost Read ...</p>\n\n<a href=\"https://finance.yahoo.com/news/french-spanish-inflation-sinks-below-071003034.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PU6D.SI","symbol_name":"HSBC ADR 10","start_time":0,"source_url":"https://finance.yahoo.com/news/french-spanish-inflation-sinks-below-071003034.html","article_id":"2470772049","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/YnA9NTnBJQpYar8FuK_Lsw--~B/aD0xMzMzO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/428155edec517a6f32988e1362b4b35e"],"rights":{"source":"yahoofinance_sg","url":"https://finance.yahoo.com/news/french-spanish-inflation-sinks-below-071003034.html","rn_cache_url":null,"customStyle":"","selectors":"article, body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2470772049","pubTimestamp":1727428437,"sourceInfo":{"source_id":"yahoofinance_sg","name":"Yahoo Finance"},"weMediaInfo":null,"summary":" -- Inflation in France and Spain plunged below 2% — fueling predictions by investors and economists that the European Central Bank will speed up the pace of interest-rate cuts.Vanderbilt Leases Struggling NYC Seminary for Campus Expansion. NJ Transit, Amtrak Trains Delayed After Derailment Near NYC. Cooling inflation across the 20-nation bloc has allowed the ECB to lower its deposit rate twice this year, with most policymakers indicating that a gradual path down has begun. A surprise contraction in the private-sector economy, however, has boosted wagers that monetary loosening will soon be accelerated.The ECB has warned, however, that price gains in the region will probably pick up again later this year, with the retreat back to target unlikely to be fully complete until late 2025.For the ECB, however, headline inflation numbers have been taking a back seat to readings of price pressures in the services sector, which exceeded 4% in August and are frequently cited by hawks as grounds f","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PU6D.SI":"HSBC ADR 10","HSBC":"汇丰","GS":"高盛"},"translate_title":"随着法国和西班牙通胀率降至2%以下，欧洲央行降息押注激增","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GS":0.9,"HSBC":0.9,"PU6D.SI":0.9},"content_text":"(Bloomberg) -- Inflation in France and Spain plunged below 2% — fueling predictions by investors and economists that the European Central Bank will speed up the pace of interest-rate cuts.\nMost Read from Bloomberg\n\nVanderbilt Leases Struggling NYC Seminary for Campus Expansion\nNJ Transit, Amtrak Trains Delayed After Derailment Near NYC\nWhere Cargo Bikes Are Freeing Cities From Polluting Vans\nExclusive Palo Alto Girls School Borrows $106 Million\nWaiting for the Miracle of Church-to-Housing Development\n\nData Friday showed consumer prices in France rose 1.5% from a year ago in September — sinking below 2% for the first time in more than three years mainly due to falls in energy costs. Spain saw a similar trend, with inflation easing to 1.7% on fuel, power and food.\nAnalysts had expected readings of 1.9% for each country. A separate ECB survey published later Friday showed consumers expect prices to rise more slowly over the coming years. \nCooling inflation across the 20-nation bloc has allowed the ECB to lower its deposit rate twice this year, with most policymakers indicating that a gradual path down has begun. A surprise contraction in the private-sector economy, however, has boosted wagers that monetary loosening will soon be accelerated.\nThere were further signs of weakness Friday in Germany, where unemployment rose more than anticipated this month — signaling that another economic rough patch is having an increasing impact on the labor market.\nA gauge of economic confidence for the euro zone, meanwhile, edged lower — staying roughly where it’s been since December — driven lower by industry and retail. Consumer confidence did tick up, as did services.\nAfter this morning’s data, markets boosted bets on another quarter-point reduction in rates on Oct. 17, now pricing about an 80% chance of such a scenario. Analysts at BNP Paribas also shifted their call for October to a cut, as did Bloomberg Economics. HSBC did so earlier this week.\nWhat Bloomberg Economics Says...\n“Our base case has now been revised to call for an ECB rate cut in October. We previously expected policymakers to wait on further confirmation of disinflationary trends in the data before cutting borrowing costs in December — that confirmation seems to be arriving early.”\n—Jamie Rush, chief European economist. Click here for full REACT\nThe ECB has warned, however, that price gains in the region will probably pick up again later this year, with the retreat back to target unlikely to be fully complete until late 2025.\nOfficials will get a clearer picture of the situation over the coming days. Italy and Germany are set to publish data for this month on Monday, and the euro zone will do so itself on Tuesday.\nFor the ECB, however, headline inflation numbers have been taking a back seat to readings of price pressures in the services sector, which exceeded 4% in August and are frequently cited by hawks as grounds for prudence when cutting rates.\nFrance’s September data also showed a moderation in services, where inflation eased to 2.5% from 3%.\nBank of France Governor Francois Villeroy de Galhau has said the ECB should take a gradual approach to easing policy, being as careful not to undershoot as to overshoot the 2% target. The national central bank predicts inflation in France will slow sooner than in the euro area, reaching 1.5% in on average in 2025 after 2.5% this year\n--With assistance from Joel Rinneby, Barbara Sladkowska, Rodrigo Orihuela, Aline Oyamada, Mark Evans and James Hirai.\n(Updates with euro-zone confidence in sixth paragraph.)\nMost Read from Bloomberg Businessweek\n\nInside Activision and Blizzard’s Corporate Warcraft\nThe End of the Cheap Burger\nThis Camera Went Viral Two Years Ago. You Still Can’t Buy One\nHow Harris’ Campaign Finally Made Biden’s Meme Strategy Work\nPalantir’s CEO and Wall Street Annoy Each Other Straight to the Bank\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2470772049"}