Now they’re causing the recession to fight #sticky inflation – and that #makes rate cuts unlikely, in our view.

#Sticky inflation justifies ECB’s ‘higher for longer approach’ and there's no risk of #overtightening yet

#Sticky inflation justifies ECB’s ‘higher for longer approach’ and there's no risk of #overtightening yet

#Sticky inflation justifies ECB’s ‘higher for longer approach’ and there's no risk of #overtightening yet

#Sticky inflation justifies ECB’s ‘higher for longer approach’ and there's no risk of #overtightening yet

#Sticky inflation justifies ECB’s ‘higher for longer approach’ and there's no risk of #overtightening yet

#Sticky inflation justifies ECB’s ‘higher for longer approach’ and there's no risk of #overtightening yet

in Chinese, it sounds the same as the word for "more". The other constant is a #sticky rice cake or nian gao, a #homonym for "grow higher every year".