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ECB: European Economy Has Deviated from Central Bank Baseline Forecast, But Does Not Signal Bias Toward Rate Hikes
According to foreign media reports, European Central Bank President Christine Lagarde said rising energy costs have caused the eurozone economy to deviate from the central banks b...
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ECB: European Economy Has Deviated from Central Bank Baseline Forecast, But Does Not Signal Bias Toward Rate Hikes
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According to foreign media reports, European Central Bank President Christine Lagarde said rising energy costs have caused the eurozone economy to deviate from the central banks baseline expectations, but this is not sufficient to make the central bank more inclined to raise interest rates.

She said the eurozone is currently positioned between the baseline scenario and an adverse scenario related to the Iran war, but this does not mean the central bank is now leaning toward tightening monetary policy. She stressed that the guiding principle of the central bank is to anchor price stability on the foundation of financial stability.

The market currently expects the ECB to keep interest rates unchanged at its policy meeting this month, but anticipates two rate hikes this year, each by 25 bps, while the probability of a third rate hike is about 30%.

Lagarde said the central bank must remain highly flexible and be ready to move in whatever direction is necessary. She emphasized that the central bank must rely on data, and therefore the future path of interest rates cannot be determined at this stage. (mn/w)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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