Forex News May 12, 2022

 

ECB

Makhlouf, ECB: The era of negative interest rates is coming to an end.

It is time to end the APP next month or in July;

The current level of inflation is concerning;

It is reasonable to expect rates to be in positive territory by early next year; and

The ECB is continuing on its path toward policy normalisation.

For one of the dovish members to take such a stance, it is clear that there has been a perception shift within the ECB.

A rate hike in July appears to be all but certain at this point.

Despite the fact that many policymakers have called for the end of negative interest rates, it may still be too early to tell.

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