Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The ECB's monetary policy stance has already shifted from highly accommodative into restrictive territory and the Governing Council's moves since December 2021 can be expected to exert substantial downward pressure on real activity and inflation over the period 2022-25, a model-based assessment to be published in the central bank's monthly bulletin will show.
However, the latest Economic Bulletin says the transmission of policy tightening to the economy "involves considerable lags, with the impact expected to peak in 2023 and 2024".
The report also concludes that the estimates are surrounded by "substantial uncertainty", as there is no clear indication how policy is being transmitted to the economy at present, including the way in which households and firms are forming expectations.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.