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Meeting of 26-27 July 2023
Ms Schnabel noted that, since the Governing Council’s previous monetary policy meeting on 14-15 June 2023, the narrative in global financial markets had shifted from a “higher-for-longer” scenario for inflation to growing optimism on a disinflation scenario. The increasing divergence of economic data between the euro area and the United States and the elevated sensitivity of euro area asset prices, especially to US data surprises, made the interpretation of market data challenging and could cause rapid shifts in market narratives. Following the previous monetary policy meeting, central bank communication, high ... (full story)
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*ECB Account: All Members Supported 25bps Rate Increase
— *seven (@sevenloI) August 31, 2023
*ECB Account: Preference Was Initially Expressed for Not Hiking
*ECB Account: Cautioned Against Focusing Too Much on September
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ECB ACCOUNTS: MEMBERS CONCURRED WITH ECB’S LANE THAT THE NEAR-TERM ECONOMIC OUTLOOK FOR THE EURO AREA HAD DETERIORATED.
— Breaking Market News (@financialjuice) August 31, 2023
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ECB ACCOUNT: CONCERN WAS RAISED THAT THE ECONOMY IS FACING STAGFLATION.
— Breaking Market News (@financialjuice) August 31, 2023