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ECB is unlikely to raise interest rates in Q3 in 2022 or anytime soon afterwards, De Cos says -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The European Central Bank’s headquarters in Frankfurt (Germany) on March 12, 2016. REUTERS/Kai Pfaffenbach/File Photo

MADRID, Reuters – Pablo Hernandez de Cos, European Central Bank policymaker, said Wednesday that the European Central Bank will not raise interest rates during the third quarter 2022. The market has begun to anticipate this and it is likely to follow soon thereafter.

De Cos said that his analysis did not show that forward guidance conditions were met in a period when the financial markets are anticipating the first rate increase, which is the third quarter of 2022. It also does not suggest that they will be fulfilled at an earlier date.

De Cos stated that the current surge in inflation had been temporary, but added that some factors such as an increase in energy costs could make it more persistant than originally thought, and there was uncertainty over its duration.

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