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ECB cheat sheet: Wake up, this isn’t the Fed!
A 50bp hike by the European Central Bank, and a repeat of its December guidance, are set in stone but a pushback against subsequent cut expectations will…

The euro zone beat expectations on Tuesday by posting positive growth in the final quarter of 2022 and reducing fears of a potential regional recession.
Preliminary Eurostat data released Tuesday showed that the euro zone grew 0.1% in the fourth quarter. Economists had pointed to a 0.1% contraction over the same period, according to Reuters.
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It was a day for grim inflation readings in Europe, as one report showed the surge in costs at grocery stores in the U.K.
Data from Kantar, covering the four weeks ending Feb. 19, showed grocery inflation reached 17% year-over-year, which it said was the highest it’s ever recorded. That comes even before the latest supply crunch to hit the U.K. as tomatoes and other key vegetables were in short supply. ...
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Measured by the European Union’s harmonized standards, French inflation rose to 7.2% year-over-year in February from 7% in January, while Spain’s consumer prices rose 5.8% year-over-year in January, after a 5.5% rise in December.
In France, food inflation was 14.5% year-over-year.
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Total assets on the ECB’s balance sheet, released today, plunged by €1.005 trillion from the peak in June 2022, to €7.83 trillion, the lowest level since June 2021:
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