Next week’s ECB monetary policy meeting will test President Christine Lagarde’s ability to manage market expectations while at the same time proving that the central bank remains in control. Get your weekly $EUR forecast from nickcawley1 here:
The European Central Bank policy decision, and press conference, next week look set to be a particularly testing meeting for ECB President Lagarde as she tries to find a policy balance to dampen down rampant inflation while propping up a weak growth outlook. And this comes at a time when other major central banks are already or are fully prepared to, hike interest rates in ever-increasing increments.
While other major central banks are already tightening monetary policy, the ECB has the unenviable job of trying to stem runaway inflation while the economy begins to stagnate. The market currently expects the ECB to increase interest rates by 60 basis points this year, a start, but if inflation is to be anchored then the ECB will have to signal that they are willing to go hard, early. This will be a hard sell to the market while Euro Area growth weakens.
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