Euro-Zone Core Inflation Falls to 1-Year Low at 4.5%

The transcript discusses a significant drop in inflation in the Euro area in September, both in headline and core numbers, with core inflation at 4.5% year-on-year. It highlights the European Central Bank's position, suggesting a pause in interest rate hikes, and emphasizes the impact of monetary policy on the real economy.

What does the phrase 'higher for longer' refer to in the context of monetary policy?

In what ways is monetary policy affecting the real economy according to the text?