Free Trial

MNI: ECB Will Know By May Whether March Was Last Hike-Centeno

Cautious, With A Tightening Bias
MNI BRIEF: Lagarde Tells EuCo Leaders Eurozone Banks Resilient

The European Central Bank needs to wait until its May meeting before it will know whether its hiking cycle concluded with March’s 50-basis-point hike, Bank of Portugal Governor Mario Centeno told an event on Monday, adding that no Governing Council member thinks it would be appropriate to cease reinvestments under the Asset Purchase Programme after June.

Centeno said he was “thankful” that the ECB was no longer giving rates guidance whilst also insisting that it was assessing its stance on a meeting-by-meeting basis. (See MNI INTERVIEW: ECB Rate Peak Set To Be Lower-Gonzalez-Paramo)

The ECB will continue to reduce its balance sheet after June but will need to find a path consistent with the monetary policy stance to avoid any possible interference, he said.

MNI Rome Bureau | +34-672-478-840 |
MNI Rome Bureau | +34-672-478-840 |

To read the full story



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.