Saltmarsh Economics' European economist Marshall Aleksandrovich said the ECB's
second rate hike this year was expected and signaled that several upcoming
meetings may require further policy tightening. New quarterly projections show
2028 core inflation at 2.3% versus June's 2.2%, implying additional rate rises
would be needed to return inflation to the 2% medium‑term target; the ECB made
no precommitment.