Eurostat: final September euro-area inflation 3.8% YoY vs 3.2% in August, matching the preliminary reading and the highest in three years. ECB President Christine Lagarde said two warning signals have not been observed and the ECB will act if they appear. She warned much of the rise is energy-driven (energy prices +18.8%) and the main risk is pass-through causing second-round effects, which have not materialised. Short-term inflation expectations have risen while medium-to-long-term expectations

Eurostat: final September euro-area inflation 3.8% YoY vs 3.2% in August, matching the preliminary reading and the highest in three years. ECB President Christine Lagarde said two warning signals have not been observed and the ECB will act if they appear. She warned much of the rise is energy-driven (energy prices +18.8%) and the main risk is pass-through causing second-round effects, which have not materialised. Short-term inflation expectations have risen while medium-to-long-term expectations remain near 2%; Lagarde said the ECB would respond if long-term expectations climb further or clear second-round effects emerge, and that the current policy stance is appropriate for now.