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https://edition.cnn.com/2023/09/14/economy/european-central-bank-interest-rates/index.html
Another link in case of paywall.
This is the best summary I could come up with:
But in a signal that the latest increase may be the final one, Ms. Lagarde said that she and her fellow policymakers consider that “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.”
Thursday’s decision was seen as almost a coin toss, as the policymakers weighed how much progress had been made on lowering inflation against their determination not to declare victory too early.
As the meeting approached, bets by investors in financial markets tilted toward a slightly higher chance that the bank would raise rates rather than keep them steady.
During that time, the central bank has embarked on its most aggressive period of monetary policy tightening, raising rates from negative levels in July last year to a record high.
Amid this deteriorating economic outlook, traders are betting that the central bank will start to cut interest rates around the middle of next year.
Interest rates will be set at “sufficiently restrictive levels for as long as necessary” in the future, Ms. Lagarde said on Thursday, reiterating that decisions will be made depending on the latest economic and financial data, inflation measures that capture domestic price pressures, and the strength of monetary policy’s impact on the region’s economy.
The original article contains 715 words, the summary contains 216 words. Saved 70%. I’m a bot and I’m open source!
In Germany whole sale prices are down 2.7% yoy. I guess it is similar in other parts of the EU too. Next winter will be the last one with even a chance of a tight gas situation. Right now it looks pretty good, but it is still to early to tell. Oil prices are high, which sucks but we might see evs finally make a real dent in that soon.
