Here we go. First to talk about cuts while Lagarde is still talking higher for longer. freak show ((:
ECB's de Cos: We certainly can't rule out cuts. I do not want to and cannot confirm them either; Underlying inflation is now easing
ECB's de Cos:— DailyFX Team Live (@DailyFXTeam) September 22, 2023
-We certainly can't rule out cuts. I do not want to and cannot confirm them either
-Underlying inflation is now easing, so we seem to have finally turned corner
-interest rate level if maintained for sufficiently long is broadly consistent with achieving target
Added at 9:13am
de Cos: “It is quite normal if we do not always agree on everything”
BZ: Mr Hernandez de Cos, the European Central Bank (ECB) is in a dilemma with excess inflation and increasing economic risks. What worries you more at the moment - sticky inflation or a rapid economic deterioration? Let me explain how we see the outlook. The euro area economy broadly stagnated in the first half of this year and has remained weak in the third quarter. In the coming quarters, we are likely to see low growth. This more negative short-term outlook is the main reason behind the ECB experts lowering their projections, and they now expect cumulative growth for the period 2023-2025 to be 1% lower. This is a ... (full story)
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post: ECBíS LANE: A 4% ECB RATE WILL DO QUITE A BIT TO BRING INFLATION TO 2%. post: ECBíS LANE: THE 4% RATE HAS TO BE HELD SUFFICIENTLY LONG. post: ECBíS LANE: THE ECB IS STILL VERY DATA DEPENDENT. post: *LANE: LOTS OF DATA NEEDED GIVE ASSURANCE PRICES HEADED TO GOAL *LANE: KEY WAGE DATA WON'T BE AVAILABLE UNTIL SOMETIME INTO 2024 post: ?*ECB'S LANE: EURO-AREA ECONOMY THIS YEAR WILL BE `FAIRLY MUTED' *ECB'S LANE: A LOT OF REASONS FOR ECONOMY TO STAGNATE THIS YEAR
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