The European Central Bank's latest survey reveals inflation expectations have dropped to their lowest level since September 2021, with consumers anticipating 2.4% inflation over the next year.

In a parallel development, business lending has gained momentum, with corporate credit growth accelerating to 1.1% in September. This uptick, coupled with a 3.2% expansion in the M3 money supply, suggests increased economic activity despite tight monetary conditions.

Household lending remains positive at 0.7%, while consumer credit shows robust 3.0% growth. Fiat expansion is exactly what we want to see to destroy out purchasing power even more!