7 July
Italy's inflation exceeds 2% for first time since 2023
In Italy, inflation exceeded the European Central Bank's (ECB) target for the first time in 18 months, reaching 2.1%. The main reasons for the rise in consumer prices were higher energy and food costs.
As Bloomberg writes, officials of the financial regulator give ambiguous comments on the further course of monetary policy. As inflation is gradually declining, and the eurozone economy is being threatened by US import tariffs, doves are in favor of another rate cut in April. At the same time, hawks are suggesting a pause in cutting borrowing costs. They argue that US President Donald Trump's trade policies and a sharp increase in defense spending in Europe could lead to a surge in prices in the region.
Goldman Sachs predicts the ECB will cut rates three more times this year as Trump's tariffs weigh on the bloc's economic growth.
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