Europe | ECB: Roadmap to fight inflation on track despite financial turmoil

Summary

All in all, while the ECB delivered its promised rate hike today, its emphasis on data dependence, and the removal of forward guidance on rates suggests that it would act more cautiously going forward in the wake of recent adverse financial sector events

Key points

• Key points:
• The ECB raised key interest rates by 50 bps as already preannounced
• No guidance on rates for further meetings, future decisions will be data dependent in the wake of elevated uncertainty
• The ECB pledged its commitment to provide liquidity support to banks if needed

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