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MNI BRIEF: ECB GovCo Split On 75bp Sept Hike, Accounts Show

(MNI) LONDON

ECB policymakers offered wide range on views ahead of policy decision, but large number back 75 bps hike at September meet.

ECB policymakers were split over whether to raise key interest rates by 50- or 75bp in September, the official account of last month’s meeting shows (see: MNI SOURCES: Both 75, 50BP Still In Play As ECB Readies Hike).

A “very large” number of the Governing Council supported the 75bp hike proposed by chief economist Philip Lane, which was “judged to be a proportionate response to the further upward revisions to the inflation outlook and an important signal that the Governing Council was determined to bring inflation back to its 2% target in a timely manner.”

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ECB policymakers were split over whether to raise key interest rates by 50- or 75bp in September, the official account of last month’s meeting shows (see: MNI SOURCES: Both 75, 50BP Still In Play As ECB Readies Hike).

A “very large” number of the Governing Council supported the 75bp hike proposed by chief economist Philip Lane, which was “judged to be a proportionate response to the further upward revisions to the inflation outlook and an important signal that the Governing Council was determined to bring inflation back to its 2% target in a timely manner.”

Keep reading...Show less