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Minutes of the June ECB meeting underline its hawkishness
The ECB’s June meeting delivered not only another rate hike but also a de facto pre-announcement of a July hike by ECB President Christine Lagarde. The upward revision of the ECB’s inflation forecasts for 2024 and a still-optimistic growth outlook were the main reasons for continued hawkishness. The pre-announcement at the press conference was reflected in the minutes, as the ECB concluded that in order to reach the inflation target the bank had “as a minimum, to deliver two successive interest rate increases in June and July”. Besides the next rate hike pre-announcement, the minutes provided some additional ... (full story)