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FT sources on the ECB meeting

ECB
  • The FT has released a sources story overnight following yesterday's ECB meeting.
  • "Several ECB governing council members argued at Thursday’s meeting that it should wait before speeding up the withdrawal of its bond-buying stimulus due to uncertainty over the economic fallout from Russia’s invasion of Ukraine. But they were outnumbered by more hawkish voices."
  • On source reportedly told the FT "the more hawkish voices calling for more immediate action on inflation outnumbered those advocating patience by 15 to 10."
  • This adds to the Reuters story yesterday afternoon which stated that "only a handful had called for keeping the previous guidance for purchases to run at least until October" and that "all 25 policymakers also agreed that the 1.9% rate of inflation now expected for 2024 was compatible with the bank's inflation target."
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