- Key message is that we will rise rates significantly
- We have more ground to cover and we are in it for the long game
- There was 'general consensus' on the governing council
- Not everyone agreed on the actual tactics
- There was 'broad consensus' that we should show perseverance
- In terms of direction, there was total agreement; some might have wanted more or less
The euro jumped on the comment regarding 50 bps hikes for a period of time. EUR was last at 1.0700.