Europe | The ECB confirms a series of hikes

Summary

The ECB took a decisive step in its monetary policy normalization journey today as it pre-announced a series of interest rate hikes, starting next month. The unanimous decision was accompanied by a notable upward revision to Euro Area’s inflation projections and a downgrade on the growth outlook

Key points

• Key points:
• The ECB announces back-to-back rate hikes in July and September after almost eleven years
• APP net asset purchases will end as of 1 July
• Strong upward revision of staff inflation forecasts

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