德银重磅警告：全球再通胀回归！央行利率决策即将大分化？

Group 1 - The core viewpoint is that global re-inflation has returned, with many central banks expected to make their final interest rate decisions of the year, indicating a common trend across various economies [1][2] - Deutsche Bank's George Saravelos notes that while the US Federal Reserve has lowered rates, other economies like Australia, South Korea, Sweden, and Japan are experiencing significant increases in interest rate expectations [2][4] - The Bank of Japan is anticipated to adjust its key policy rate, reflecting a shift in its long-standing low-interest environment due to rising inflation [3][4] Group 2 - In Europe, inflation rates slightly exceed the 2% target, leading to expectations that the European Central Bank will adopt a neutral stance, with signs of economic growth in the Eurozone [4][5] - Deutsche Bank highlights that Eastern European and Scandinavian currencies are preferred for expressing a bullish view on European re-inflation, while Asian currencies are seen as undervalued [4] - Market expectations in the US suggest two rate cuts by September next year, with implications for exchange rates and inflation dynamics [4][5]