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The monetary authority has explained that it plans to continue raising rates after this large increase – the highest so far – because “inflation remains too high and is likely to remain above target for an extended period”.
The latest eurozone HICP inflation figures surprised on the upside, coming in at 9.1% in August, up from 8.9% in July, and setting a new record since the creation of the euro.
This follows the strong commitment of the Governing Council’s to make sure inflation returns to its 2% target over the medium term.
They will have to decide whether the top monetary authority will continue to step up the accelerator with rate hikes, or, on the contrary, maintain a more conservative tone.
In this way, the European Central Bank announces the first rate hike in 11 years and anticipates that there will be another hike in September.
Prior to the meeting, we have received the first commentaries from the professionals in the asset management industry.
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