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MNI BRIEF: Bank Of Spain Sees ECB Hiking To Restrictive Levels

(MNI) ROME

The ECB is likely to hike until rates reach 2.25%-2.5%, Bank of Spain models suggest.

Bank of Spain models see the European Central Bank raising rates to a peak of 2.25%-2,5% by March 2023, Governor Pablo Hernandez de Cos said in a speech in Bilbao on Thursday.

This would be higher than the neutral rate, but lower than market expectations, said de Cos, acknowledging that reaching that level would mean that the ECB would need to enter restrictive territory to bring inflation to 2% at the end in 2024.

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Bank of Spain models see the European Central Bank raising rates to a peak of 2.25%-2,5% by March 2023, Governor Pablo Hernandez de Cos said in a speech in Bilbao on Thursday.

This would be higher than the neutral rate, but lower than market expectations, said de Cos, acknowledging that reaching that level would mean that the ECB would need to enter restrictive territory to bring inflation to 2% at the end in 2024.

Keep reading...Show less