Heads up: Germany states’ CPI readings due later today

Germany remains the major sticking point for the ECB in trying to ease monetary policy further going into the turn of the year. Core annual inflation was seen at 2.8% in October, being one of the higher ones and arguably the most relevant one considering that Germany is Europe’s largest economy.

For November, headline annual inflation is estimated to come in at 2.4% – just marginally higher than the 2.3% reading last month. As price pressures continue to stay stubborn and well above the 2% mark, the ECB will have little choice but to keep on the sidelines in favour of a more cautious approach in policy setting.

Here’s the agenda for today:

• 0900 GMT – North Rhine Westphalia
• 0900 GMT – Hesse
• 0900 GMT – Bavaria
• 0900 GMT – Baden Wuerttemberg
• 0900 GMT – Saxony
• 1300 GMT – Germany national preliminary figures

Do note that the releases don’t exactly follow the schedule at times and may be released a little earlier or later.