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ECB, wages and gas
The ECB's baseline scenario is that there will be no policy rate hike before 2023. This was also the Fed's view a few months ago. Now the Fed is about to initiate a steady cycle of rate hikes. Why would the ECB remain passive in the face of the inflation shock when so many other central banks feel it necessary to respond without further delay? The answer is summarized in two words: wages and gas. The eurozone labour market is not experiencing wage pressures (unlike the US) and th...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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