Key takeaways from the latest ECB meeting:
- A very large majority agreed to hike rates by 50 bps
- Bankers noted that credit had become more expensive
- Some bankers would have preferred that the interest rates not be raised until financial market worries had abated
- Monetary policy still had some work to do to drive inflation down
- If the CPI prognosis reflected in the March predictions is verified, EBC will have more leeway in altering the monetary stance
Basically, we do not see a reaction to the minutes. EURUSD reaches the 1.0980 zone and retreats from that level. There is basically nothing new in the Minutes. The earlier, stronger "hawkish claw" is missing. At the same time, it is simply a continuation of the earlier overtones.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
