“Based on the information we have today, we have more ground to cover, and we are not pausing. It’s extremely clear,” ECB President Christine Lagarde said at a news conference. She later added, “This is a journey. We have not arrived yet.”
While the rate hikes are having an effect, “is it a sufficient effect yet? We don’t know,” Lagarde said. “Unlike the US Fed, the ECB is almost certainly not done yet,” Schmieding said by email. “However, the fact that the ECB ... slowed down the pace of hikes suggests that the peak is not far away.”weighing on economic growth
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European Central Bank slows pace of rate hikes but vows moreThe European Central Bank has slowed the pace of its interest rate increases, stepping back like the U.S. Federal Reserve from a string of jumbo hikes aimed at snuffing out inflation. But the ECB also said Thursday that it's “not pausing” even as its efforts are working by making mortgages and business loans harder to get. The quarter-point hike comes a day after the Fed approved the same increase but hinted that it may be the last for now. The central bank for the 20 countries that use the euro currency started later. ECB President Christine Lagarde says the bank has 'more ground to cover, and we are not pausing.” “We are not pausing,” ECB President Christine Lagarde said. “This is a journey. We have not arrived yet.” Inflation has declined for several months, but at 7% is still far above the ECB's goal of 2% considered best for the economy.
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European Central Bank hikes rates by a quarter-percentage point | CNN BusinessThe European Central Bank raised interest rates by a quarter of a percentage point Thursday, the smallest increase since it started hiking in July after data this week showed core inflation cooling and banks pulling back sharply on lending.
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European Central Bank raises interest rates, slows pace in inflation fightThe European Central Bank delivered a smaller interest rate hike as higher borrowing costs begin to take their toll, but said it had 'more ground to cover' in fighting inflation.
Source: trtworld - 🏆 101. / 63 Read more »