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ECB Speak Up To Including Jackson Hole [1/2]

ECB
Credit BulletsEM BulletHomepagemarkets-real-timeFixed Income BulletsCreditEuropean Central Bank (ECB) Market NewsBulletMarketsEmerging Market NewsForeign Exchange Bullets

ECB speak in the week to 26 Aug 2024:

  • Chief Economist Lane sees monetary stance needing to remain in restrictive territory for as long as needed for "sustainable" return to inflation target.
  • Lane wary of "chronically" below-target inflation from rates too high for too long but also see a lot of momentum in Europe.
  • A typically hawkish Holzmann doesn't see a September cut as a foregone conclusion although some of his colleagues do.
  • Rehn and Centeno are two of those clearly calling for a September cut but with Centeno seeing October as a "funny" meeting.
  • Sources: Worry is October and not September, with risk of a September cut stoking expectations too much (Reuters). Hard discussions on r-star to start at the end of this year as a way to lay the ground for 2025 (MNI).
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ECB speak in the week to 26 Aug 2024:

  • Chief Economist Lane sees monetary stance needing to remain in restrictive territory for as long as needed for "sustainable" return to inflation target.
  • Lane wary of "chronically" below-target inflation from rates too high for too long but also see a lot of momentum in Europe.
  • A typically hawkish Holzmann doesn't see a September cut as a foregone conclusion although some of his colleagues do.
  • Rehn and Centeno are two of those clearly calling for a September cut but with Centeno seeing October as a "funny" meeting.
  • Sources: Worry is October and not September, with risk of a September cut stoking expectations too much (Reuters). Hard discussions on r-star to start at the end of this year as a way to lay the ground for 2025 (MNI).