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Lane: 75bp was straightforward when at a lower starting point

ECB
Looking a little more into the comments from ECB's Lane around half an hour ago (full transcript is here)
  • When asked about a 50bp vs 75bp hike he said: "When we had very low interest rates, a move of 75 basis points was reasonably straightforward. So that made sense in September and in October. We will see in December what the correct decision will be. But the starting point is different now. We’ve already hiked rates by 200 basis points. We will still be guided by the inflation outlook. But we cannot decide on the appropriate size of the increase in any one meeting without considering the starting point. And the starting point is now a lot higher than where we were in previous meetings."
  • When pushed further he said: "The higher starting point is one dimension of the debate, but of course in terms of the wider debate we will have to look at the overall outlook."
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