Eurozone inflation soars to 4%, double the central bank's target! Lagarde signals tightening, Nagel says rate hike may still be needed next month.

Zhitong Finance APP notes that eurozone inflation accelerated to twice the ECB's target, providing grounds for further rate hikes. The EU statistics agency announced on Wednesday that consumer prices rose 4% year-on-year in October, up from 3.8% the previous month. This is the highest level since September 2023 and is in line with the median estimate of the survey.