ECB Watch: The Gentleman is not for turning
Two down, more to come: as expected and officially signalled one month ago, the ECB raised all its interest rates by 25bp, bringing the key refinancing rate to 1.5%. But markets were clearly expecting signs that the ECB now believes that it is coming close to an appropriate level of interest rates which were conspicuously absent. In fact, we read the Introductory Statement as suggesting quite clearly that further rate hikes in the near future are the most likely scenario.
No comments:
Post a Comment