The index climbed 1.52% Thursday, its best session since the start of June, according to LSED figures., a 10th consecutive hike taking its main rate to a record high of 4%. New staff projections revised its inflation forecasts for this year and next slightly higher, to 5.6% and 3.2%, though nudged its 2025 forecast lower, from 2.2% to 2.1%. Staff also revised economic growth expectations for the euro zone lower.
But perhaps the biggest development came in a firm suggestion ECB Governing Council members do not expect further rate hikes at this time, and that rates may be held steady for some time. "Based on its current assessment, the Governing Council considers that the key ECB interest rates have reached levels that, maintained for a sufficiently long duration, will make a substantial contribution to the timely return of inflation to the target," the central bank said in a statement.
"The Governing Council's future decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary." "From now on, the focus of the ECB debate will shift to the length of the likely rate plateau," said Holger Schmieding, chief economist at Berenberg.
Belgique Dernières Nouvelles, Belgique Actualités
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