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MNI BRIEF: ECB Lagarde - New Tool, Risks Realizing Behind Hike

(MNI) London
(MNI) London
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Realisation of upside inflation risks, the flexibility of the PEPP reinvestments and the adding of a transmission protection instrument allowed the European Central Bank to hike key interest rates by 50 bps at the July meeting, President Christine Lagarde said.

According to Lagarde, the Governing Council agreed unanimously on the introduction of the new tool to ensure policy transmission, while all members of the council 'rallied to the consensus' of a 50 bps hike.

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Realisation of upside inflation risks, the flexibility of the PEPP reinvestments and the adding of a transmission protection instrument allowed the European Central Bank to hike key interest rates by 50 bps at the July meeting, President Christine Lagarde said.

According to Lagarde, the Governing Council agreed unanimously on the introduction of the new tool to ensure policy transmission, while all members of the council 'rallied to the consensus' of a 50 bps hike.