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ECB held a cautious line: staff now see euro-area inflation averaging 2.1% in 2025, drifting toward ~2% by 2027 as core pressures ease. Growth nudged up for 2025.
Global trade pulse: Drewry’s World Container Index fell 6% to $1,913/FEU—14th straight weekly drop. Freight costs are sliding as capacity outpaces demand.