MarketsEurozone business activity continued to rise in September, with the composite PMI reaching a 16-month high at 51.2 (from 51 in August). She dissented in July in favour of a 25 bps rate cut and joined last week’s consensus decision. News & ViewsThe Riksbank cut the policy rate by 25 bps to 1.75%. The semi-unexpected (hawkish) rate cut comes with the Riksbank growing more confident that still-high inflation (CPIF 3.2%) is transitory. UK activity should end up the second-highest in the G7 (1.4% in 2025) but the country is suffering from the highest inflation rate.