ECB officials back further tightening, as they see rates into ‘restrictive territory’ ECB CentralBanks InterestRate EURUSD
Over the weekend, European Central Bank Executive Board member Frank Elderson said that more interest hikes from the central bank will be in the offing."it’s very important that the expectations that the people have on how the inflation will develop in the medium to long term will not become deanchored.”
“Getting the inflation development under control again -- and that is a shared belief within the ECB council, in my opinion.” “We may need to overcome a dry spell, but for now at least it looks like this dry spell and the decline in economic output will not be severe.” Governing Council member Joachim Nagel said over the weekend that “Thursday’s step was a clear sign and if the inflation picture stays the same, further clear steps must follow.”
Citing five sources close to the matter, Reuters reported that “many policymakers saw a growing probability that they will need to take the rate into "restrictive territory", jargon for a level of rates that causes the economy to slow, at 2% or above.”projection for 2025, due to be published in December, is still above 2%.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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