Citing five sources with direct knowledge of the debate, Reuters reported on Thursday that the Policy makers at the European Central Bank (ECB) are converging on a 25 basis point (bp) interest rate hike in May.
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“Although the debate is not over, a small group still advocates a 50 basis point hike in May; another small group advocates no change.”
“The basis of the ECB’s March economic projections is considered largely intact.”
“He rate ceiling is already in sight and in this ‘last mile’ it is safer to navigate in smaller steps.”
“Another argument put forward in favor of gradualism was that the ECB’s deposit rate, now at 3%, is at a level that restricts growth.”
Market reaction
As of this writing, EUR/USD is holding its range play intact near 1.1000, up 0.05% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
