Eurozone’s July M3 Money Supply -0.4% yr/yr (expected 0.0%; last 0.6%), July Private Sector Loans 1.3% yr/yr (expected 1.4%; last 1.7%), and July loans to nonfinancials 2.2% yr/yr (expected 2.5%; last 3.0%)
European Central Bank President Lagarde said at the Jackson Hole Symposium that interest rates will be set as high as necessary to slow inflation and that price expectations must be anchored. Meanwhile, policymaker Kazaks said that there is no rush to declare an end to the ECB’s rate hike campaign.