Link Securities | According to elEconomista.es on Tuesday, the president of the European Central Bank (ECB), Christine Lagarde, said in her opening speech at the central bank forum in Sintra (Portugal) that the ECB will probably not be able to declare the end of its historic cycle of interest rate hikes any time soon. In that sense, Lagarde said that it is unlikely that in the near future the central…

Banca March: The ECB followed the script and at Thursday’s meeting increased the price of money once again, raising all its interest rates by 25 b.p., bringing the benchmark rate to 4% and the deposit rate to 3.5%. However, the most relevant aspect was economic expectations and clues as to the monetary authority’s future moves. In these sections, it should be noted that the ECB lowered its GDP growth forecasts…

Peter Goves (MFS) | This was as guided at the last meeting and is largely due to inflation projections being “too high for too long”. On QT, the policy was extended (again, as widely telegraphed) across all APP from July 2023. EGB spreads remain relatively tight and continue to exhibit relatively low volatility. There were minor changes to the forecasts which show medium term inflation at 2.2% (in 2025, +0.1ppt)….

Jeremy Cunningham, Investment Director, Fixed Income at Capital Group| The European Central Bank (ECB) will face an even more challenging policy environment in 2023. Core inflation appears to have already peaked in the major European economies and should continue to fall as the effects of last year’s sharp increases in energy prices fade. However, underlying inflationary pressures are rising. Higher energy prices are being passed through to a wide range…