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Lagarde Pushes Back Against Bets for ECB Rate Hike Next Year
European Central Bank President Christine Lagarde pushed back against market expectations of interest-rate hikes next year even if inflation will prove more enduring than originally anticipated. Within hours of data showing surging price increases in Spain, and after investors doubled down on bets for tightening, the institution’s chief reiterated its house view that no such move in borrowing costs is currently envisaged. She said that comparisons with global central banks currently withdrawing stimulus are “odious.” “Our analysis certainly does not support that the conditions of our forward guidance are ... (full story)