Global EconomyIMPORTANTSeptember 10 at 09:34 AM

ECB President Lagarde (Q&A): not seeing second round effects. However, if the shock continues and the energy shock is longer than expected, we will see such effects and it will impact on food inflation.

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ECB President Lagarde noted wages show no distinct reaction to energy shocks, pointing to absent second-round effects despite a 25 basis point rate hike to 2.50%.

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ECB President Lagarde (Q&A): not seeing second round effects. However, if the shock continues and the energy shock is longer than expected, we will see such effects and it will impact on food inflation.

What do investors think?

Today's market highlights

US PPI PCE Components (Aug.):

Iran orders temporary suspension of 10% freight charge on foreign vessels carrying energy products to or from Iran, Fars reports

US PPI (Aug MM) 0.4% vs. Exp. 0.4% (Prev. 0.1%)