It is an exciting question at the moment: will the European Central Bank (ECB) manage to get inflation back to its target of 2 percent after the sharp upward swings of the past two years? Or will inflation settle at a higher level in the medium term, for which there could be good reasons? Commerzbank had previously held the view that the inflation rate in the eurozone would stabilize at around 3 percent next year – well above the ECB target. This was significantly higher than the central bank’s own forecasts and the average of bank economists.
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