ECB SPF survey: Eurozone inflation to average 2.4% in 2024 and 2.0% in 2025

Market news

19 July 2024

ECB SPF survey: Eurozone inflation to average 2.4% in 2024 and 2.0% in 2025

The latest findings from the European Central Bank’s (ECB) Survey of Professional Forecasters (SPF) showed on Friday that all inflation forecasts across the time horizons remained unchanged from the previous round of the poll conducted three months earlier.

Key takeaways

Growth is seen at 0.7% in 2025 vs. 0.5% seen earlier; the 2025 outlook cut to 1.3% from 1.4%.

Inflation is to average 2.4% in 2024 and 2.0% in 2025, both unchanged from the previous survey.

Inflation potentially seen falling to 1.9% by 2026.

Eurozone firms see moderate price hikes and slower wage growth.

Market reaction

At the time of writing, EUR/USD loses 0.15% on the day to trade at 1.0880.

ECB’s Rehn: ECB is not pre-committed to any rate path

ECB’s Šimkus: I agree with markets which sees two more rate cuts this year

Market Focus

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