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Lagarde: Strong March 50bp Hike Intention

ECB

Q: What would you say to doubters today? Are we correct to expect that more rate hikes are coming beyond March? Why would you set a guidance without having seen your projections and when you said that you would stop doing this? There is guidance one day and then it is meeting-by-meeting the next.

  • A: This is why we are trying to explain our reaction function. We are data dependent and we know we are getting projections in March. We have all information needed to argue that March warrants a 50bp increase. This is why we use the word ‘intend’.
  • We hope that by being specific on today’s decision and strong in our intention on what to do in March, means our determination to return inflation to target should not be doubted.
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