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MNI ECB Review - June 2022: ECB Catching Up

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MNI ECB Review - June 2022: ECB Catching Up

Despite already telegraphing most of the policy announcements of the June meeting ahead of time, the ECB still managed to deliver a hawkish surprise. Going into the meeting, President Lagarde had indicated in a blog post on May 23 that net purchases under the APP would end in early July, rate lift-off would occur in the same month and the ECB would have exited its NIRP by the end of the third quarter. In addition to these pre-announcements, Lagarde signalled at the June meeting that policy rates could rise by 50bp in September and that a series of rate hikes will likely follow after September. In addition, upward revisions to staff inflation forecasts show above target inflation in 2024.

For the full publication please see:

ECB Review June 2022.pdf

Central Bank ReportsMarketsECB - ReviewCentral Bank Review

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