- 50 bps rate hike provided more clarity for market participants
- ECB not changing assessment regarding terminal rate
- Medium-term inflation risks have also increased
- Members unanimously supported TPI
- Full accounts
There isn't much that we don't already know but as a reminder, there is a sense that the sudden increase by 50 bps in July may have felt a little rushed. Considering the economic circumstances and outlook in Europe ahead of winter, the window is closing for the ECB to keep a more aggressive stance.
