ECB Staff Projections: 2026 Headline HICP maintained at 3.0% but raises 2027 and 2028 HICP forecasts
US PPI Ex Food, Energy and Trade (Aug YY) 4.7% (Prev. 4.7%)
Yemeni army takes control of Zaqar Island in the international maritime trade waterway in the Red Sea, reports Al Alam citing sources
ECB Staff Projections: 2026 Headline HICP maintained at 3.0% but raises 2027 and 2028 HICP forecasts
ECB raises its rates by 25bps as expected; ECB reiterates it is not pre-committing to a particular rate path; says inflation is set to remain well above target for an extended period
European Deposit Facility Rate 2.50% vs. Exp. 2.5% (Prev. 2.25%)
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- HICP: 3.0% (exp. 2.9%, prev. 3.0%) in 2026, 2.5% (exp. 2.7%, prev. 2.3%) in 2027, 2.1% (exp. 2.0%, prev. 2.0%) in 2028
- Core HICP: 2.5% (exp. 2.4%, prev. 2.5%) in 2026, 2.6% (exp. 2.6%, prev. 2.5%) in 2027, 2.3% (exp. 2.2, prev. 2.2%) in 2028
- GDP: 0.9% (exp, 0.8%, prev. 0.9%) in 2026, 1.4% (exp. 1.3%, prev. 1.2%) in 2027, 1.5% (exp. 1.5%, prev. 1.5%) in 2028
*Exp via Goldman Sachs
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