Frankfurt says fight against inflation is far from over with Christine Lagarde almost guaranteeing another 0.25% rate jump next month via IrishTimesBiz
Investors now see the ECB’s terminal rate – the highest level interest rates will reach – settling at about 4.25 per cent, indicating that at least one more hike is fully priced in, but some analysts see the ECB going to 4.5 per cent before pausing.
The ECB also raised its 2023 and 2024 projections for inflation excluding volatile energy and food, which is monitored closely by policymakers, on the back of “past upward surprises and the implications of the robust labour market for the speed of disinflation”. A big uncertainty is how the euro zone economy is reacting to the ECB monetary tightening push; 400 basis points in less than a year is unprecedented in the ECB’s history.President Lagarde was very clear that they expect to hike rates again,” Melanie Baker, senior economist at Royal London Asset Management, said.
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