The European Central Bank on Thursday delivers a quarter-point rate increase.
The European Central Bank on Thursday lifted interest rates by 25 basis points, slowing the pace of tightening as it delivered a seventh straight increase.
“Headline... The European Central Bank on Thursday lifted interest rates by 25 basis points, slowing the pace of tightening as it delivered a seventh straight increase. “Headline inflation has declined over recent months, but underlying price pressures remain strong. At the same time, the past rate increases are being transmitted forcefully to euro area financing and monetary conditions, while the lags and strength of transmission to the real economy remain uncertain,” the ECB said.
Market participants, meanwhile, have priced in three Fed rate cuts by year-end. The ECB, in contrast, was expected to perhaps deliver one more hike after Thursday’s move.
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