ECB accounts: A number of members initially expressed preference for 50 bps rate hike

• The meeting decision
• Most members indicated that they would accept the proposed 25 bps rate hike
• Almost all members supported the 25 bps rate hike
• ECB communication should, however, convey a clear "directional bias"
• There was a strong preference against returning to outright forward guidance
• There was now more solid evidence that monetary policy was being transmitted to financing and credit conditions
• But it was also argued that transmission could be weaker than usual
• Full accounts

With regards to inflation, the view on the trend in core prices was "broadly seen as worrisome". I guess that supports the argument for those wanting a 50 bps rate hike, although it will be interesting to see how this week's inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term data factors into the view among policymakers at the moment.