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Account of the monetary policy meeting of the Governing Council of the European Central Bank held on Wednesday and Thursday, 6-7 March 2024
Ms Schnabel noted that, since the Governing Council’s previous monetary policy meeting on 24-25 January 2024, monetary policy expectations had retracted further from the early and large interest rate cuts initially foreseen at the turn of the year. More favourable news on the global economy and less favourable news on inflation had both been key factors in shaping financial market developments. In the case of the first factor, macroeconomic data surprises had moved into positive territory in the euro area, the United States and China for the first time since May 2023. As a result, investors attached a discernibly ... (full story)
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— FinancialJuice (@financialjuice) April 4, 2024ECB ACCOUNTS: MEMBERS EXPRESSED INCREASED CONFIDENCE THAT INFLATION WAS ON TRACK TO DECLINE SUSTAINABLY TO THE 2% INFLATION TARGET IN A TIMELY MANNER.
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— FinancialJuice (@financialjuice) April 4, 2024ECB ACCOUNTS: THE CASE FOR CONSIDERING RATE CUTS WAS STRENGTHENING.
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— FinancialJuice (@financialjuice) April 4, 2024ECB ACCOUNTS: IT IS IMPORTANT NOT TO BE COMPLACENT, AS THE DISINFLATIONARY PROCESS REMAINS FRAGILE.
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— FinancialJuice (@financialjuice) April 4, 2024ECB ACCOUNTS: PATIENCE AND CAUTION WERE STILL NEEDED.