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ECB is expected to keep interest rates on hold at a meeting on Thursday.
ECB's Consumer Expectations Survey shows 1-year inflation expectations jumped to 4.0% in March.
KEY POINTS
- Banks tightened lending criteria more than expected, especially for firms, last quarter.
- Long-term inflation expectations barely moved in either the consumer or business surveys.
- Consumers expect a deep recession, and banks foresee falling loan demand and rising lending costs.
- ECB policymakers may hike rates despite weak growth, due to persistent inflation expectations.
COMPANIES
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