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18 July 2024

Core Inflation is Still High at 3.3% ---- well above the 2% ECB target. | @Schuldensuehner

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Good Morning on #ECB day from #Germany where there's no need for further interest rate cuts. The Taylor Rule suggests the fair interest rate should be 5.75%, 150bps higher than the current rate of 4.25%. While the unemployment rate is close to the Non-Accelerating Inflation Rate of Unemployment (NAIRU), core inflation is still high at 3.3%, well above the 2% ECB target.