ECB statement today:
- Due at 1245 GMT
- ECB President Lagarde press conference follows at 1300 GMT
No change to policy is exp[ected today:
- the deposit rate will remain at minus 0.5% (a record-low)
- the euro pandemic emergency bond-buying scheme is set to be phased out by the end of March
Some remarks on what is further ahead, though,
- "The ECB's hopes for a rapid decline in the inflation rate are fading," Commerzbank economist Christoph Weil said. "The pressure on the central bank to exit its ultra-expansive monetary policy as early as 2022 is increasing."
- "For now, we have pencilled in the first rate hike for early 2023, but an increase at the end of this year is increasingly likely," said Andrew Kenningham, chief Europe economist at Capital Economics.
these via a Reuters report (more at that link) and are in the context of surging EZ CPI.
ps. ICYMI:
Powell: "I didn't really think inflation was transitory!"
