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European rate hike likely amid disagreements
The European Central Bank is preparing to conclude a series of interest rate hikes, with expectations of raising rates by at least 25 basis points. This comes amid ongoing inflationary pressures, which reached 3.3% in August, driven by a 14.3% increase in energy prices. It is anticipated that interest rates will remain elevated for an extended period, although the future policy path remains uncertain and depends on developments in the Middle East and the impact of energy prices. The rise in European bond yields to record levels reflects these uncertainties, with investors holding diverging views on when monetary tightening will peak.
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