--- title: "Unexpected rise in inflation in France and Spain supports the European Central Bank's decision to maintain interest rates, Deutsche Bank predicts no hope for rate cuts within the year" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/277170498.md" description: "Inflation in France and Spain unexpectedly rose, exceeding market expectations, providing support for the European Central Bank to maintain interest rates. The year-on-year increase in France's consumer prices rose from 0.4% to 1.1%, while Spain's inflation rate slightly increased from 2.4% to 2.5%. The European Central Bank decided to keep the three key interest rates unchanged for the fifth consecutive time in its latest meeting, in line with market expectations. Institutions such as Deutsche Bank predict that there is no hope for interest rate cuts within the year" datetime: "2026-02-27T09:11:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277170498.md) - [en](https://longbridge.com/en/news/277170498.md) - [zh-HK](https://longbridge.com/zh-HK/news/277170498.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/277170498.md) | [English](https://longbridge.com/en/news/277170498.md) # Unexpected rise in inflation in France and Spain supports the European Central Bank's decision to maintain interest rates, Deutsche Bank predicts no hope for rate cuts within the year According to the Zhitong Finance APP, inflation in France has risen more than market expectations, and inflation in Spain has also unexpectedly accelerated, providing strong support for the European Central Bank's stance of not needing to lower interest rates further. Specifically, the year-on-year increase in consumer prices in France jumped from 0.4% last month to 1.1%, far exceeding the median expectation of 0.8% derived from economists' surveys. In Spain, the inflation rate rose slightly from 2.4% to 2.5%, while analysts had generally predicted it would fall to 2.3%. ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260227/1772181860780839.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Among the members of the European Central Bank's governing council, the position of François Villeroy de Galhau, the Governor of the Bank of France, is relatively more dovish. He warned that the strengthening of the euro and cheap imports from China could exert downward pressure on inflation this year. To this end, he has repeatedly called for the European Central Bank to adopt a flexible and pragmatic approach when setting borrowing costs. The Bank of France predicts that price growth in the country will accelerate in the coming months, with an expected inflation rate of 1.3% by 2026. Data released on Friday showed that after regulated price increases in the same month last year, the drag of energy costs on inflation has eased in February this year. Meanwhile, Spain's economy has benefited from a large influx of immigrants and strong development in the tourism sector, with its growth rate surpassing that of other major member countries in the eurozone monetary union. Currently, the European Central Bank's interest rate policy has entered a significant "stability period." At the first monetary policy meeting of this year held on February 5, 2026, the European Central Bank decided to maintain its three key interest rates unchanged for the fifth consecutive time, a decision that is highly consistent with the market's previous expectations. It is worth mentioning that European Central Bank officials have repeatedly expressed satisfaction with the current level of borrowing costs, which have not been adjusted since June last year, as inflation has remained around the target value of 2%. European Central Bank President Christine Lagarde has reiterated in recent speeches and meeting minutes that the committee will continue to adhere to the principle of "data-dependent" and will adopt a "meeting-by-meeting assessment" approach without pre-setting a specific interest rate path. Several major international financial institutions, including Deutsche Bank, currently predict that due to the uncertainty of the global trade environment and the nonlinear fluctuations of internal inflation paths, the European Central Bank is very likely to maintain the deposit rate at 2.00% throughout 2026. Next week, the overall price data for the eurozone will be officially released, while data from Germany, to be published later on Friday, is expected to reach 2.1%. In addition, the European Central Bank is scheduled to hold its next interest rate decision on March 19, at which time the officials will release the latest quarterly economic forecast report, which is often seen as an important window for adjusting policy positions ### 相關股票 - [Deutsche Bank AG (DBK.DE)](https://longbridge.com/zh-HK/quote/DBK.DE.md) ## 相關資訊與研究 - [Key facts: DB >13% RoTE by 2028; $27–32bn private credit; no losses; Q1'26 rev flat; $150M Africa; $250M GS](https://longbridge.com/zh-HK/news/279518789.md) - [Deutsche Bank Sticks to Their Hold Rating for RTL Group SA (0MNC)](https://longbridge.com/zh-HK/news/279072103.md) - [Euro zone yields rise as oil climbs above $110, turns up heat on ECB](https://longbridge.com/zh-HK/news/279776617.md) - [Czech central bank holds rates as Iran conflict raises uncertainties](https://longbridge.com/zh-HK/news/279816843.md) - [How stagflation puts banks in a vise](https://longbridge.com/zh-HK/news/279919846.md)