Lionel Oster
Portfolio Manager - Fixed Income

Key highlights

  • Inflation in Europe had started to rise before Russia’s commodity shock.
  • The current weakness of the euro has been another factor that has been driving inflation higher.
  • ECB President Lagarde used the word ‘flexibility’ twelve times at their June conference, adding that the Council was prepared to use the flexibility given by their mandate on inflation.
  • The political landscape in Europe is likely to be supportive of the ECB taking action to tackle the rising inflation.

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