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Lagarde Says Will Remain Data Dependent

ECB
  • Q: Financial conditions have become looser since the October meeting, does that undermine your fight against inflation? You want to raise rates at a steady pace, 50bp, why are you giving up flexibility to decide from meeting to meeting?
  • A: On the issue of interest rates, we will be data dependent and we will review data. But what we know today, given financing conditions, expected terminal rate embedded in projections, this is not enough, and we need to take this fight and continue to battle against inflation. So we will continue that at a steady pace. 50bp at the next meeting, and possibly the one after that, and possibly the one after that. Don't assume it's a one shot 50, it's more than that. I don't know how many more times.
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