As expected the ECB’s Governing Council decided yesterday to leave its official interest rate unchanged at 1.25%, but Jean-Claude Trichet used the code words “strong vigilance” several times suggesting that the main policy rate will probably be raised by 25bp to 1.5% at July’s meeting. The hint was reinforced by other hawkish sentences like: “we […]
To summarise an extensive research note published today, the whole euro area is in a very difficult situation. One year after the €110bn 3-year international aid package had been approved to help the Greek government, doubts about the country’s ability to honour its debt have resurfaced again. With the exception of some short periods of […]
As expected the ECB’s Governing Council decided yesterday to leave its official interest rate unchanged. The wording appeared very dovish as Jean-Claude Trichet refrained from using “strong vigilance” – a key word to announce a rate increase at the next meeting. Moreover, referring to conditions, he said that they were “still accommodative” instead of a somewhat […]
As expected the ECB has raised the refinancing rate by 25bp to 1.25% The ‘corridor’ is left unchanged as the deposit and the marginal lending facilities have also been raised by 25bp Monetary policy tightening will probably follow We expect the refinancing rate to reach 2% at the end of the year As expected, the […]
Yesterday, short-dated Eurozone benchmark bonds sold off the most as ECB President Jean-Claude Trichet was very hawkish in his introductory statement at the press conference. The ECB kept interest rates unchanged at 1% as widely expected. However, Trichet mentioned that the governing council will display strong vigilance and may even raise rates at the next […]
Trichet announces that a 25 basis point rate hike is likely as early as April The ECB is set to risk starting the tightening cycle too early Weakest Member States likely to be weakened by the decision At the same time, nonstandard measures are maintained at least until the end of Q2 Accordingly, we have […]
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