Good Morning on #ECB day from #Germany, where key rate should be at 4.5% & so 4.5ppts higher than current rate, acc to Taylor Rule w/German core inflation at 2.1% & unemployment near NAIRU. ECB rates should be 3.75ppts higher for entire Eurozone, should be 1ppt higher for #Italy. h/t Holger Zschaepitz
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