|2023/03/16 / Erste Group Research|
ECB moves forward more cautiously
As expected, the Governing Council decided to raise the key interest rates by 50 basis points (bp) at today's meeting. No decision was taken on the further course of action. Inflation forecasts were lowered, especially for the years 2023 and 2024. It was emphasized that the forecasts were made before the recent market turmoil and therefore have a higher degree of uncertainty. Even based on the new lower forecasts, the Governing Council continues to see inflation as ‘too high for too long,’ which is a clear indication of further rate hikes.
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|Author||Erste Group Research|
|Product name||Short Notes Major Markets|
|Topic in focus||Macro/ Fixed income|
|Economy in focus||Eurozone|
|Currency in focus||Euro|
|Sector in focus||-|
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