The monthly survey of the European Central Bank (ECB) on the inflation expectations of euro zone consumers showed on Tuesday that the inflation expectations were unchanged in July.
Inflation expectations remain at 3.4%
“Median consumer inflation expectations for the next 12 months were unchanged at 3.4%, while those for the next three years rose.”
“Expectations for nominal revenue growth in the next 12 months eased slightly, but expectations for nominal spending growth were unchanged.”
“Expectations for economic growth in the next 12 months became slightly more negative, however the unemployment rate expected for 12 months from now did not change.”
“Expectations for house price growth in the next 12 months remained unchanged, while expectations for 12-month forward mortgage interest rates increased slightly; the share of those surveyed who declared having applied for a loan in the previous three months increased compared to April.”
Market reaction
The EUR/USD pair is challenging intraday lows near 1.0740, weighed down by survey results amid a fresh rise in the US dollar. Currently, the pair is trading above 1.0749, down 0.42% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
