On October 31, Jin10 Data reported that Andrew Kenningham, a macro analyst at Capital Economics, said that the eurozone’s inflation rate in October was slightly higher than expected, but it may not be enough to prevent the European Central Bank from accelerating its rate cuts. European Central Bank policymakers, including President Lagarde, emphasized that the battle against inflation has not yet been won, and October’s data may support this view. However, overall and core inflation rates are still lower than the European Central Bank’s macroeconomic forecasts in September. Although the protocol has not yet been reached, we still believe that the Governing Council may conclude in December that there is no need for long-term policy constraints. Capital Economics expects the European Central Bank to further cut interest rates by 50 basis points next month.
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