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German Wholesale Prices Rise the Fastest in 26 Years
French Industrial Production Rises 1.4%, Led by Cars
Italian Production Unexpectedly Increased in April
ECB’s Trichet Says Price Stability Is Vital for Jobs, Growth
Liikanen Says ECB Must Anchor Inflation Expectations
Germany’s Mirow Says Inflation Concerns `Clearly Increased’
Bundesbank’s Zeitler Sees IMF Raising German Growth Forecast
IHT: ECB Chief Warns Against Oil Shock Suppliers, Workers and
ECB Drains Cash From European Money Market to Counter Imbalance
European Bonds Fall on Higher-Rate Bets to Tackle Inflation

All supportive of rate hikes today, and the Fed’s notion that they would cut because the US was ‘stealing demand’ via US exports is falling by the wayside.

For Central Bankers, inflation expectations are an absolute determinant.

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