Chief Economist for Financial and Economic Analysis
Sonsoles Castillo, Chief Economist for Financial and Economic Analysis at BBVA Research.She joined BBVA Research in 1997. She has been Chief Economist for Capital Flows, for Europe and for Emerging Markets. Areas of interest, Monetary policy, European integration and Financial Markets.Research assistant at FEDEA (Fundación de Estudios de Economía Aplicada).Gained a Scholarship for Research Staff Training at the Faculty of Economics of the University of Alcalá de Henares.BA Studies Economics, University of Alcalá de Henares.
Unlike previous moves, which were clearly telegraphed to the markets, this time around there was considerable uncertainty over the ECB’s decision on interest rates: to pause or to hike? Notably, President Christine Lagarde’s press conference following the meeting revealed that the decision was indeed a split one.
There were no surprises at Thursday's European Central Bank (ECB) meeting, nor at Wednesday's US Federal Reserve (Fed) meeting. In both cases, it was decided to raise reference interest rates, the ECB to 4.25% (the refi rate) and the Fed to 5.50%.
The European Central Bank (ECB) had to make a decision in difficult circumstances on Thursday, amid strong financial market turmoil and with the banking sector in the eye of the storm. It raised rates by 50 basis points to 3.50%.