External broker reports, Nordea

Nordea

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External broker reports

External broker reports(aggregated public sources)

Macroeconomics

<ul><li>The Euro-area flash estimate for December was spot on the ECB’s medium term target at 2% y/y.</li><li>With market pricing implying and the ECB staff projecting inflation to hoover just below 2% for the coming three years, there is no reason to expect rate changes from the ECB without any new shocks.</li><li>We expect inflation well below target in 2026 in general and in Q1 in particular.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Euro-area flash estimate for December was spot on the ECB’s medium term target at 2% y/y.With market pricing implying and the ECB staff projecting inflation to hoover just below 2% for the coming three years, there is no reason to expect rate changes from the ECB without any new shocks.We expect inflation well below target in 2026 in general and in Q1 in particular.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Euro-area flash inflation: Ending 2025 at target