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Lagarde: Emphasis On Plural "Decisions" To Get Sufficiently Restrictive

ECB
Q: Did anyone at the meeting prefer larger rate hike or clearer commitment to more hikes?
  • A: Not destination that matters, it's the journey, and we are not pausing. Under baseline of March know we have more ground to cover.
  • Explicitly refer to future decisionS (emphasising the S) in the statement.
  • As to how much rates are increased - was a variety of views. Some suggested 50bp was appropriate, others suggest 25bp was appropriate - no one suggested zero was appropriate so we are on a hiking "journey".
  • Very strong consensus behind decision.

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