MNI BRIEF: ECB Has Still Room To Cover On Rates –De Cos

The European Central Bank has still more to do hiking interest rates if the March projections still hold, Bank of Spain’s Governor Pablo Hernandez de Cos said at an event in Ireland on Wednesday. (MNI SOURCES: ECB To Hold Rates At Peak Into 2024)

The size of any move at the May meeting will depend on the coming data, Hernandez de Cos said, noting that last week’s data on inflation expectations was positive. The Governing Council will look at both headline and core inflation, not only the numbers but also “the factors behind on how inflation will be projected,” he said, with policymakers monitoring the degree of symmetry in which core inflation falls compared to the speed in which picked up.

Asked about the divisions on the Governing Council, De Cos expected that “broad consensus” would remain in the ECB’s decisions at least for the following quarters.