Some ECB chiefs have said the latest data for July and August point to a slowdown in the economy in Q3 and may continue to do so in Q4. In addition, they noted that the ECB is in the final stages of raising interest rates, but emphasized the need to work to bring inflation back to the 2% target.
Switzerland reported today. Nothing unexpected. This leading economic country has also joined with its brothers in rising inflation. A jump in growth from the previous indicator from -0.1% to 0.2% was recorded and, most likely, growth will continue, especially on rising gas and oil prices by autumn.
I wonder how the ECB is going to fight inflation, making such loud statements about the end of the interest rate hike? Maybe they have a grand plan? What do colleagues think? But from time immemorial, the only and most effective tool in the fight against inflation in the economy has been raising interest rates.
In this case, the conclusion suggests itself: the only thing that can save them is a return to cheap energy, access to which they themselves have cut off. Maybe this is their “grand plan for the fall”.
