ECB höjde styrräntorna med 25 punkter till 4,00 procent

 ”Baserat på nuvarande bedömning har räntan nått en nivå som, om den hålls tillräckligt länge, kommer att bidra till att få inflationen tillbaka till mål i rätt tid”, 

heter det i ett pressmeddelande från ECB-rådet.

DI 14 september 2023

https://www.di.se/live/ecb-hojer-rantan-som-vantat/

https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230914~aab39f8c21.en.html

ECB Hike Crosses Rubicon

The decision to bring the deposit rate to 4% came with the vague hope of bringing consumer-price growth below 2% at the very end of the ECB’s outlook in 2025.

... financial markets are already betting on a reversal as soon as next June.

The problem for policymakers is that inflation — in their own words — is still anticipated to stay “too high for too long.” On both the headline gauge and an underlying measure that strips out energy and food, price growth is stuck above 5%.

Bloomberg 14 September 2023

https://www.bloomberg.com/news/articles/2023-09-14/ecb-hike-crosses-rubicon-of-pain-as-lagarde-warns-of-hard-times

ECB raises interest rates to all-time high

The ECB lifted its forecast for inflation this year from 5.4 per cent to 5.6 per cent and for next year from 3 per cent to 3.2 per cent. 

But it trimmed its 2025 inflation forecast from 2.2 per cent to 2.1 per cent

FT 14 September 2023

https://www.ft.com/content/646d95e6-330f-4784-af76-3cf07f25c06f

Markets see peak reached, but Lagarde can’t say if that is so

“With today’s decision, we have made sufficient contributions, under the current assessment, to returning inflation to target in a timely manner,” Lagarde told reporters in Frankfurt. “

The focus is probably going to move a bit more to the duration, but it is not to say — because we can’t say — that now that we are at peak.”

Italian debt, among the most sensitive to changes in interest rates, led the advance. The yield on 10-year bonds dropped 12 basis points to 4.32%

Lagarde was at pains to insist that the prospect of a future cut in borrowing costs “was not even a word that we have pronounced.”

Bloomberg 14 September 2023

https://www.bloomberg.com/news/articles/2023-09-14/ecb-hikes-interest-rates-again-in-10th-salvo-to-quash-inflation

Dagens ödesbesked - Skall ECB höja med 0,25 procent, eller inte?

https://englundmacro.blogspot.com/2023/09/dagens-odesbesked-skall-ecb-hoja-med.html