The European Central Bank (ECB) released the minutes of its June monetary policy meeting on Friday, with the main highlights below, as reported by Reuters.
They expressed concerns that a sustained rate hike could translate into tighter financial conditions more spacious.
It was reiterated that preservation of favorable financial conditions during the pandemic period it remained essential.
Members expressed broad agreement with Lane’s proposal to reconfirm the “very accommodative” monetary policy stance.
It seemed appropriate that the improved prospects be reflected in the governing council’s political stance.
It was evaluated that financing conditions were too fragile to allow for a significant reduction the pace of PEPP purchases.
Concerns were expressed that any change in net purchases not based on the improvement in the inflation outlook would lead to an unjustified tightening of financial conditions.
But it was also argued that, to provide the same degree of adaptation, asset purchases should be reduced somewhat.
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