ECB’s de Cos: Inflation surge is transitory but could be more persistent than initially estimated 0 (0)

Remarks by ECB policymaker, Pablo Hernandez de Cos
Pretty much sticking to the tagline while acknowledging upside risks on the matter. But again, it’s all relative to what ‚transitory‘ actually means in their book. Three months? Six months? A year? Seems like it’s just for as long as they can get away with it.

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US MBA mortgage applications w.e. 29 October -3.3% vs +0.3% prior 0 (0)

Latest data from the Mortgage Bankers Association for the week ending 29 October 2021
–  +0.3%
– Market index 623.8 vs 645.1 prior
– Purchase index 271.1 vs 275.6 prior
The drop in mortgage applications in the past week comes as both purchases and refinancing activity fall, with the latter in particular seeing a rather steep drop to its

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