Another European Central Bank rate increase in December appears close to certain, Bundesbank President Joachim Nagel said on Tuesday, according to Reuters. Nagel, described by the source as an influential voice on the ECB Governing Council, joined a growing group of policymakers supporting the move, which would be the bank's third this year.
The ECB kept its key deposit rate unchanged at 2.5% the previous week, based on the view that rapid inflation is not becoming entrenched. Policymakers with differing backgrounds and views have since argued that the pause was probably temporary.
In a speech in Berlin, Nagel said a December increase looked very likely to be necessary from the current standpoint and that there seemed to be little alternative unless the inflation outlook improved significantly.
Financial investors do not fully price in a December move, but they expect between two and three rate increases over the coming year, anticipating that inflation will remain above the 2% target for years. Nagel argued that inflation was approaching the ECB's adverse scenario and that price pressures would be higher than outlined in the bank's September projections.
Bulgarian central bank chief Dimitar Radev, speaking earlier in the day in Sofia, reached a similar conclusion. He said the inflation outlook had deteriorated since September and that this needed to be reflected in the assessment of the appropriate monetary policy stance. He also characterized the October pause as a decision to assess the evidence rather than a conclusion that tightening was over.
The ECB expects inflation above 4% in the coming months, more than twice its target, before falling back rapidly from early spring as high year-earlier figures drop out of the comparison series.
Nagel acknowledged that the ECB remained quite far from achieving its price stability mandate, while noting that the inflation surge was primarily driven by energy, which the ECB does not control, and that there was little evidence the increase was generating second-round effects.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
- CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
- MARKET FORECAST TO 2035
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4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
- PRODUCTION BY COUNTRY: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
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8. IMPORTS
- IMPORTS: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
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9. EXPORTS
- EXPORTS: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012โ2025) AND FORECAST (2026โ2035)
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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11. COUNTRY PROFILES
This Chapter is Available Only for the Professional Edition PRO- 11.1United States
- Market Size
- Production
- Imports
- Exports
- 11.2China
- Market Size
- Production
- Imports
- Exports
- 11.3Japan
- Market Size
- Production
- Imports
- Exports
- 11.4Germany
- Market Size
- Production
- Imports
- Exports
- 11.5United Kingdom
- Market Size
- Production
- Imports
- Exports
- 11.6France
- Market Size
- Production
- Imports
- Exports
- 11.7Brazil
- Market Size
- Production
- Imports
- Exports
- 11.8Italy
- Market Size
- Production
- Imports
- Exports
- 11.9Russian Federation
- Market Size
- Production
- Imports
- Exports
- 11.10India
- Market Size
- Production
- Imports
- Exports
- 11.11Canada
- Market Size
- Production
- Imports
- Exports
- 11.12Australia
- Market Size
- Production
- Imports
- Exports
- 11.13Republic of Korea
- Market Size
- Production
- Imports
- Exports
- 11.14Spain
- Market Size
- Production
- Imports
- Exports
- 11.15Mexico
- Market Size
- Production
- Imports
- Exports
- 11.16Indonesia
- Market Size
- Production
- Imports
- Exports
- 11.17Netherlands
- Market Size
- Production
- Imports
- Exports
- 11.18Turkey
- Market Size
- Production
- Imports
- Exports
- 11.19Saudi Arabia
- Market Size
- Production
- Imports
- Exports
- 11.20Switzerland
- Market Size
- Production
- Imports
- Exports
- 11.21Sweden
- Market Size
- Production
- Imports
- Exports
- 11.22Nigeria
- Market Size
- Production
- Imports
- Exports
- 11.23Poland
- Market Size
- Production
- Imports
- Exports
- 11.24Belgium
- Market Size
- Production
- Imports
- Exports
- 11.25Argentina
- Market Size
- Production
- Imports
- Exports
- 11.26Norway
- Market Size
- Production
- Imports
- Exports
- 11.27Austria
- Market Size
- Production
- Imports
- Exports
- 11.28Thailand
- Market Size
- Production
- Imports
- Exports
- 11.29United Arab Emirates
- Market Size
- Production
- Imports
- Exports
- 11.30Colombia
- Market Size
- Production
- Imports
- Exports
- 11.31Denmark
- Market Size
- Production
- Imports
- Exports
- 11.32South Africa
- Market Size
- Production
- Imports
- Exports
- 11.33Malaysia
- Market Size
- Production
- Imports
- Exports
- 11.34Israel
- Market Size
- Production
- Imports
- Exports
- 11.35Singapore
- Market Size
- Production
- Imports
- Exports
- 11.36Egypt
- Market Size
- Production
- Imports
- Exports
- 11.37Philippines
- Market Size
- Production
- Imports
- Exports
- 11.38Finland
- Market Size
- Production
- Imports
- Exports
- 11.39Chile
- Market Size
- Production
- Imports
- Exports
- 11.40Ireland
- Market Size
- Production
- Imports
- Exports
- 11.41Pakistan
- Market Size
- Production
- Imports
- Exports
- 11.42Greece
- Market Size
- Production
- Imports
- Exports
- 11.43Portugal
- Market Size
- Production
- Imports
- Exports
- 11.44Kazakhstan
- Market Size
- Production
- Imports
- Exports
- 11.45Algeria
- Market Size
- Production
- Imports
- Exports
- 11.46Czech Republic
- Market Size
- Production
- Imports
- Exports
- 11.47Qatar
- Market Size
- Production
- Imports
- Exports
- 11.48Peru
- Market Size
- Production
- Imports
- Exports
- 11.49Romania
- Market Size
- Production
- Imports
- Exports
- 11.50Vietnam
- Market Size
- Production
- Imports
- Exports
- 11.1United States
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LIST OF TABLES
- Key Findings In 2025
- Market Volume, In Physical Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Market Value: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Per Capita Consumption, by Country, 2022โ2025
- Production, In Physical Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Imports, In Physical Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Imports, In Value Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Import Prices, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Exports, In Physical Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Exports, In Value Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Export Prices, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
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LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Market Value: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Consumption, by Country, 2025
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Production, In Value Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Production, by Country, 2025
- Production, In Physical Terms, by Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Imports, In Physical Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Imports, In Value Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Imports, In Physical Terms, By Country, 2025
- Imports, In Physical Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Imports, In Value Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Import Prices, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Exports, In Physical Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Exports, In Value Terms: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Exports, In Physical Terms, By Country, 2025
- Exports, In Physical Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Exports, In Value Terms, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)
- Export Prices, By Country: Historical Data (2012โ2025) and Forecast (2026โ2035)