Reservations among council members will fuel expectations that ECB will leave rates on hold later this month
President of the European Central Bank Christine Lagarde said just one of the 26 council members had opposed a June cut. Photograph: GettyA number of European Central Bank policymakers expressed doubts over cutting interest rates in June because inflation and wages were heading in the opposing direction, according to the official account of last month’s meeting.
Co Kerry graveyard ‘honour killing’ was as ‘heartbreaking as it was ridiculous and stupid’, trial hears The benchmark deposit rate was cut from an all-time high of 4 per cent to 3.75 per cent on June 6th. The ECB said this was based on its “increasing confidence in the reliability, solidity and robustness of the projection showing that inflation would return to the 2 per cent target in a timely manner”.
This prompted central bank officials to raise their inflation forecast for this year and next year and to delay by several months their prediction for when it would hit its 2 per cent target to the final quarter of 2025.
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