Difficult kick-off for the CNR, the ECB expected on its rates and defeat of OM

Did you miss the news this early morning? We’ve put together a recap to help you see things more clearly.

It is a new body of debates which is already in a bad way. Emmanuel Macron installs this Thursday at 9:30 a.m. the National Council for Refoundation (CNR), already boycotted by the opposition. “Engaging in a constructive dialogue”, “solving the daily difficulties of the French”, “restoring confidence” in the public debate: the Elysée marks a “willingness to register this approach over time” and promises first results from 2023 about school or health. In addition to these two themes, full employment, aging well and ecological transition will be on the menu for discussion.

But for the moment, the CNR is above all the object of numerous criticisms. Gérard Larcher, the LR president of the Senate, thus refused to come. Alexis Corbière (LFI) for his part denounces a “bazaar” to “dodge parliament”, Marine Le Pen (RN) a “gadget”, when Olivier Faure (PS) sees “no interest” in it.

What will the European Central Bank’s response to inflation be on Thursday? If analysts are to be believed, the ECB should accelerate the tightening of its monetary policy by deciding to raise rates on an unprecedented scale. “We expect rates to rise by 75 basis points,” suggests Franck Dixmier, director of bond management at Allianz Global Investors, illustrating the shift in the consensus of observers who initially expected a 50-point increase in key rates.

Such an increase would be a first for the monetary institute, in two decades of existence. But the context is particular: prices rose in August by 9.1% over one year in the euro zone. Above all, the weakness of the euro, which sank below the $0.99 threshold on Monday, is another argument for a monetary hammer blow. A weak euro makes the bill for imported products more expensive, which fuels inflation.

Olympique de Marseille missed its entry into the Champions League on Wednesday. The Marseille club indeed lost against Tottenham (2-0). Reduced to ten from the start of the second period for a foul by Chancel Mbemba on Son Heung-min as the last defender, the Marseillais ended up cracking on a header from Richarlison, forgotten by the defense.

The Brazilian scored a brace a few minutes later, again with a header, easily winning his duel with Samuel Gigot. However, just before the opener, Igor Tudor’s men, with Dimitri Payet on the bench, had just missed an opportunity to lead through Amine Harit.

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