Data on inflation in the euro area! In an hour!
Dear traders,
At 12:00 pm (Kiyv), there will be data on January inflation in the eurozone!
According to the consensus forecast, the report will show that consumer prices in January rose by 1.3%, slightly slower than December growth index (1.4%) and remaining below the ECB target of just under 2%. Perhaps more important will be the core inflation rate, which does not include energy and food prices. According to forecasts, core inflation will slightly accelerate to 1.0%, compared with 0.9% in the previous month.
Last week, the Board of Governors of the ECB confirmed its intention to maintain its € 2.5 trillion financial incentive program for as long as necessary. At the same time, the head of the European Central Bank said that raising the interest rate this year is extremely unlikely. Despite these statements, market players are confident that the soft monetary policy in the region will end sooner rather than later.
In October 2017, the ECB reduced the volume of the monthly repurchase of bonds from € 60 billion to € 30 billion, but extended the financial incentive program until the end of September 2018 due to weak inflation.
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