ECB officials back further tightening, as they see rates into ‘restrictive territory’ ECB CentralBanks InterestRate EURUSD
Over the weekend, European Central Bank Executive Board member Frank Elderson said that more interest hikes from the central bank will be in the offing."it’s very important that the expectations that the people have on how the inflation will develop in the medium to long term will not become deanchored.”
“Getting the inflation development under control again -- and that is a shared belief within the ECB council, in my opinion.” “We may need to overcome a dry spell, but for now at least it looks like this dry spell and the decline in economic output will not be severe.” Governing Council member Joachim Nagel said over the weekend that “Thursday’s step was a clear sign and if the inflation picture stays the same, further clear steps must follow.”
Citing five sources close to the matter, Reuters reported that “many policymakers saw a growing probability that they will need to take the rate into "restrictive territory", jargon for a level of rates that causes the economy to slow, at 2% or above.”projection for 2025, due to be published in December, is still above 2%.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joe Biden is breaking the rules when it comes to the midtermsDemocrats have seen their chances in this year's midterms improve with Biden's approval rating trending upwards.
Read more »
Ukraine's stunning counteroffensive in Kharkiv and DonbasUkraine’s stunning counteroffensive in Kharkiv is the type of military action that will be written about and analyzed for decades, maybe centuries.
Read more »
Ukraine reclaims '3,000 square kilometres' from Russian forcesThe speed of Ukraine's fightback against Russia's offensive has apparently caught Moscow's military off-guard, bringing swathes of territory Russia had controlled for months back into Ukraine's fold.
Read more »
Gov. Murphy open to tightening law as convicted N.J. officials continue to collect pensionsThe scrutiny follows an NJ Advance Media investigation that found nearly 100 former state, county or local employees are receiving public pensions despite criminal convictions related to their jobs.
Read more »