According to Jinshi Data on October 16, a quarterly survey jointly conducted by the German think tank IFO and the Swiss Institute for Economic Policy Research showed that economists expect the eurozone's inflation rate to reach 2.6% this year.
The IFO said inflation is expected to be 2.4 percent in Germany this year, 3.1 percent in Austria and 2.3 percent in France. In the medium term, inflation is expected to exceed the European Central Bank's 2 percent target, IFO researcher Niklas Potrafke said.
He added that the central bank might not cut rates further as inflation expectations stagnated, though markets widely expect the ECB to do so this week.