Holger Zschaepitz(@Schuldensuehner):Good Morning from Germany, which appears to be heading towards stagflation. Consensus GDP forecasts for 2026 have been revised down from more than 1% to just 0.66%, while inflation forecasts have climbed above 2.7%. Against this backdrop, the ECB is now expected to raise interest rates twice – at least, that is what markets are pricing in.

Holger Zschaepitz

@Schuldensuehner

Holger Zschäpitz is market maniac @Welt and Author of 'Schulden ohne Sühne?' a book on states' addiction to debt. Pics:

Joined May 2009

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Holger Zschaepitz@Schuldensuehner

2026.05.11 08:11

Good Morning from Germany, which appears to be heading towards stagflation. Consensus GDP forecasts for 2026 have been revised down from more than 1% to just 0.66%, while inflation forecasts have climbed above 2.7%. Against this backdrop, the ECB is now expected to raise interest rates twice – at least, that is what markets are pricing in.