Forex News May 18, 2022

 

ECB

Pablo Hernandez de Cos, an ECB policymaker, made the following remarks:

 A gradual withdrawal of stimulus is adequate in the current context

Further rate increases could be made in the coming quarters

This could reach levels in line with the natural rate of interest if the medium-term inflation outlook remains around our target

That is consistent with recent comments regarding a rate hike in July. That is a foregone conclusion now, but the hawks are hyping a move to positive territory.

There is no doubt that the ECB could go all out in the fight against inflation, but the eurozone economy will face significant challenges in the coming quarters.

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