Free Trial
MNI EXCLUSIVE

Ex-Senior SNB Economist Kaufmann On Hiking Cycle

OPTIONS

VIX Put Buyer

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI STATE OF PLAY: ECB Hikes 50-BPS, Approves Anti-Crisis Tool

(MNI) London

Rising inflation and approval of a new Transmission Protection Instrument prompted the ECB to hike by more than it had initially indicated.

The European Central Bank raised rates by a higher-than-expected 50 basis points on Thursday and said it had approved a tool to prevent any blowout in eurozone bond spreads, though much of the detail of the new facility remains to be revealed.

Rising inflation prompted the ECB to double the size of its first hike in 11 years from the 25 basis points it had indicated was likely in June, despite significant downside risks to growth from the war in Ukraine, President Christine Lagarde told a news conference.

Keep reading...Show less
391 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The European Central Bank raised rates by a higher-than-expected 50 basis points on Thursday and said it had approved a tool to prevent any blowout in eurozone bond spreads, though much of the detail of the new facility remains to be revealed.

Rising inflation prompted the ECB to double the size of its first hike in 11 years from the 25 basis points it had indicated was likely in June, despite significant downside risks to growth from the war in Ukraine, President Christine Lagarde told a news conference.

Keep reading...Show less