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Still fighting the last war?
- Amid the most recent surge in energy prices following the outbreak of the war in the Middle East, Eurozone headline inflation has risen sharply.
- The ECB also provided a slew of alternative macro scenarios.
- In 2011, the ECB hiked rates twice in April and July, amid concerns regarding price stability, before having to reverse course by cutting rates twice before the year was out.
- Eurozone GDP contracted in Q1 of this year, for the first time since Q4 2022.
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