🇪🇺 Lagarde rejects 'insurance hike' and writes stagflation into the ECB's official baseline
🇪🇺 ECB hikes back to 2.25% as staff projections put inflation above target through 2027
🇪🇺 Germany stays frozen as the ECB prepares to hike, putting tomorrow's staff projections on trial
🇪🇺 Germany's order collapse is a European demand problem. The ECB is hiking into it regardless.
🇪🇺 German factory orders miss hard while investor expectations post their sharpest monthly jump
🇪🇺 ECB walks into June hike as services PMI contracts and energy inflation hits 10.9%
🇪🇺 Eurozone inflation is back at 3.2% and services stagflation is the part the ECB cannot simply hike away
🇪🇺 ECB hikes into an energy shock while Switzerland shows what the alternative looks like
🇪🇺 Spain holds expansion while France and Germany contract, putting one rate policy against two crises
🇪🇺 Eurozone services hit 3.5% while the front end prices June as terminal
