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ECB: rate hike but remarkably cautious

Posted by Danske Bank A/S in July 7th 2008  
Overview: The ECB raised rates on 3 July by 25 bp to 4.25%, which came as no surprise. As we expected, there was a much more balanced approach in both the introductory statement and the question and answer session than there was in June; the committee used milder language in order to ensure it did not feed expectations of more rate changes. Details: This time the ECB expressed much more concern about the growth picture by reintroducing references to downside risks to growth, omitting upside Read More...

Filed under: Fundamental