Data on inflation in the euro area this week!
Dear traders,
At 12:00 (Kiyv), the euro zone will publish an inflation report for February. If inflation rates remain high, this may push the European Central Bank to complete its a large-scale financial incentive program.
According to the consensus forecast, the report will show that consumer prices in February rose by 1.2%, slightly slowing their growth compared to the January figure (1.3%) and remaining below the ECB’s target value – just below 2%.
Perhaps more important will be the core inflation rate, which does not include energy and food prices. According to forecasts, core inflation will remain stable at 1.0%, unchanged from the previous month.
Weekly reports on GDP of Spain, France, Italy and Germany will also be published.
The ECB’s report showed that officials of the European Central Bank refused to make even a symbolic change in the statement of the ECB. ECB officials said it is too early to give a signal about the normalization of monetary policy, given the weak inflation.
Despite these statements, market players have remained 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 program of financial incentives until the end of September 2018 due to a weak increase in inflation.
The next meeting of the ECB will be held on March 8.
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