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Euro: ECB pushback weighs on currency – MUFG
MUFG’s Lee Hardman highlights that European Central Bank (ECB) President Lagarde has pushed back against expectations for another back-to-back ECB rate hike, stressing higher long-term yields and the need for a measured response.
Lagarde tempers October hike hopes
"Earlier this week President Lagarde pushed back against expectations for the ECB to deliver another back-to-back hike next month."
"Furthermore, with second-round effects so far absent, it means that the ECB should continue to adopt a “measured response as appropriate to keep inflation in check”."
"The comments have dampened expectations for another ECB hike as soon as next month."
"Inflation in the euro-zone would need to surprise meaningfully to the upside in September to refuel October rate hike speculation."
"The paring back of ECB rate hike expectations has contributed to euro weakness this week."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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