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Monetary policy decisions
The Governing Council today decided to keep the three key ECB interest rates unchanged. The incoming information has broadly confirmed the Governing Council’s previous assessment of the medium-term inflation outlook. Inflation has continued to fall, led by lower food and goods price inflation. Most measures of underlying inflation are easing, wage growth is gradually moderating, and firms are absorbing part of the rise in labour costs in their profits. Financing conditions remain restrictive and the past interest rate increases continue to weigh on demand, which is helping to push down inflation. But domestic price ... (full story)
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EUROZONE ECB INTEREST RATE DECISION (APR) ACTUAL: 4.50% VS 4.50% PREVIOUS; EST 4.50%
— First Squawk (@FirstSquawk) April 11, 2024
EUROZONE ECB MARGINAL LENDING FACILITY ACTUAL: 4.75% VS 4.75% PREVIOUS; EST 4.75%
EUROZONE DEPOSIT FACILITY RATE (APR) ACTUAL: 4.00% VS 4.00% PREVIOUS; EST 4.00%
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ECB leaves rates unchanged, repeats line on policy remaining sufficiently restrictive as long as necessary, stands ready to adjust all instruments
— zerohedge (@zerohedge) April 11, 2024
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ECB SAYS IN ANY EVENT, IT WILL CONTINUE TO FOLLOW A DATA-DEPENDENT AND MEETING-BY-MEETING APPROACH TO DETERMINING APPROPRIATE LEVEL AND DURATION OF RESTRICTION AND IS NOT PRE-COMMITTING TO A PARTICULAR RATE PATH.
— FinancialJuice (@financialjuice) April 11, 2024
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ECB holds rates at record highs, signals upcoming cut
The European Central Bank kept interest rates at record highs on Thursday but sent an even clearer signal that it may be preparing to cut them as euro zone inflation continues to fall. The central bank for the 20 countries that share the euro currency kept its deposit rate at 4.0%, where it has been since September as part of a 1-1/2-year effort to rein in prices. But, with inflation now close to the ECB's 2% target, bank lending at a standstill and the economy barely growing, the ECB dropped fresh hints about a possible cut at its next meeting. "If the Governing Council’s updated assessment of the inflation ... (full story)