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.
Thursday’s ECB meeting was presented a priori with two points of interest on the table, aside from the 75 basis point rate hike which had been widely anticipated by markets and analysts thanks to a fairly direct communication from the central bank itself.
For the second time in a row, the ECB has struck with aggressive rate hikes, this time by 75 basis points. A magnitude more or less pre-announced in the last few days, when in July the expectation was increasing by 50.
The European Central Bank (ECB) has finally emerged from the extraordinary situation it has been in since 2014 with interest rates in negative territory, after raising all three benchmark rates by 50 basis points, thus leaving the refinancing rate (again the monetary policy benchmark) at 0.50%.