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2019/07/19 / Erste Group Research

Week Ahead | Important hints at next week’s ECB meeting

Both M. Draghi (ECB) and J. Powell (US Fed) recently stressed that the price stability and inflation targets are “symmetrical” - a small word that makes a big difference. Inflation values would then have to be above 2% for a certain time in the future so that a 2% price stability or inflation target can be achieved "symmetrically", since inflation rates have remained below 2% for some time.

We expect the central bank to open up more room for maneuver and change its forward guidance with regard to short-term interest rate developments. Instead of indicating that interest rates should remain at the "current" level, the ECB could use the phrase "at an appropriate level." This would prepare the markets for the possibility of interest rate cuts.

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General information

AuthorErste Group Research
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-


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