Eurozone’s September Retail Sales -0.3% m/m (expected -0.2%; last -0.7%); -2.9% yr/yr (expected -3.1%; last -1.8%)
European Central Bank policymaker Nagel said that “lively” wage growth and falling supply of labor will underpin inflation while policymaker Stournaras said that the ECB could cut rates in the second half of 2024 if inflation decelerates below 3.0%.
Meanwhile, the International Monetary Fund believes that the ECB needs to keep its policy rate at or close to 4.0% through next year to slow inflation.
Germany’s October CPI 0.0% m/m, as expected (last 0.3%); 3.8% yr/yr, as expected (last 4.5%)
France’s September trade deficit EUR8.9 bln (expected deficit of EUR8.1 bln; last deficit of EUR8.3 bln). September Current Account deficit EUR2.50 bln (last deficit of EUR1.10 bln)
Italy’s September Retail Sales -0.3% m/m (expected -0.2%; last -0.4%); 1.3% yr/yr (last 2.4%)