Look for:

Our offer for

Research Detail

2021/12/02 / Erste Group Research

Omicron and inflation haunting the financial market

Omicron, the new mutation of the coronavirus that was first identified only a few days ago, briefly sent European financial markets into a state of shock. However, a slight recovery could already be observed at the beginning of the week. Uncertainty goes around, but panic remains absent. But we are not anywhere near the all-clear. For this, we do not know yet enough about Omicron.

Eurozone inflation exceeded consensus estimates by far, setting a new high of +4.9% y/y since the currency union was established. Inflation rate should have now peaked, and we expect it to decline in 2022 due to base effects. ECB officials keep stressing the ability and willingness of the central bank to keep supporting the economy. Decisions may be taken or at least hints may be given at the next ECB meeting on 16 December.

Special topic of the week:

- S&P downgrades Bausparkasse Wuestenrot to 'BBB', outlook stable

PDF Download Download PDF (369kB)

General information

AuthorErste Group Research
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria, Eurozone
Currency in focusEuro
Sector in focus-


We use cookies and web analysis software to give you the best possible experience on our website. If you consent, these tools will be used. For more details please read our Data protection policy.


Any information, material and services regarding financial instruments and securities provided by Česká spořitelna/Erste Group/ or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites“) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions.

By agreeing to this hereto, the visitor entering this Websites confirms that has read, understood and accepted this Information and the Disclaimer