Contributing writer
Writes about the distance between what a central bank says and what it is understood to have said.
The ECB's fourth-quarter Survey of Professional Forecasters raised 2027 inflation by 0.4 points to 2.6% and growth for 2026 to 1.0%; longer-term expectations stayed anchored at 2.0%.
The fee comes on top of the €3 duty on low-value parcels introduced in July, which the Commission says cut small-parcel imports by 60%; 75% of the revenue goes to the EU budget.
Net mortgage lending eased to £3.9 billion, remortgaging approvals rose to 42,600, and households put £5.0 billion into ISAs, the Bank of England's Money and Credit release shows.
Sales fell 6.3% to €75.3 billion against a €1.1 billion loss a year earlier; the group plans to cut 120,000 jobs by 2030.
The advance estimate shows investment, consumer spending and federal outlays rising; final sales to private domestic purchasers grew 4.9%, and core PCE prices rose 2.5% annualised.
The day's range was 157.76–158.03 and spot turnover $2.86 billion; the Bank's Monetary Policy Meeting runs 29–30 October with the decision and Outlook Report due on the 30th.
Within a week four central banks faced the same energy-price pressure and chose differently; what separates them is where core inflation and domestic demand already stand.
The 10–2 statement calls inflation elevated and activity strong, and says more information will guide a timely return to 2%; it gives no hint of a cut.
Perceived past inflation edged up to 3.6%, three- and five-year expectations held at 2.9% and 2.5%, and expected growth fell to -1.5% as unemployment expectations rose to 11.3%.
Nearly 100 bank reports filed since a July alert pointed to more than 20,000 suspect transactions; Treasury says the figures are tips for investigators, not the full scope of the fraud.