Inflation rate figures for the Eurozone were also released yesterday. Core inflation rate went up to 1.2% in July of 2020 from 0.8% in June. It is the highest reading in five months. Meanwhile, on a monthly basis, consumer prices fell 0.4%, the biggest drop since January.
This is still below the ECB’s target of below 2%. A rising euro will also work against the European Central Bank mission to deliver higher inflation.
Today, the ECB will release minutes from the latest monetary policy meeting. No huge changes are expected but views from officials on the EU’s economic outlook will be in focus.
