ECB chief Christine Lagarde also hinted at the possibility of another rate hike to come, saying “we are seeing some slight improvement in certain areas [of underlying inflation], but frankly, not a lot”.However, her comments, combined with the ongoing turmoil on financial markets, were interpreted to mean that future rate hikes would be smaller in magnitude.
However, the central bank cautioned that its projections were finalised in early March before the recent emergence of financial market tensions. Markets recovered somewhat on Thursday after the Swiss National Bank, the country’s central bank, said it was willing to provide Credit Suisse with a 50 billion Swiss franc loan.
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