ECB holds rates in latest monetary meeting

Confirmed wind down of bond buying in third quarter

clock • 2 min read
Inflation climbed to 7.5% in March in the Eurozone
Image:

Inflation climbed to 7.5% in March in the Eurozone

The European Central Bank (ECB) held interest rates at its latest meeting on monetary policy this morning, as the Governing Council judged data since its last meeting “reinforced its expectation” that net asset purchases under its asset purchase programme should conclude in the third quarter.

The decision came after Eurozone inflation climbed to 7.5% in March, up from 5.9% in February. According to Gurpreet Gill, macro strategist for global fixed income at Goldman Sachs Asset Management, the central bank had to weigh up macroeconomic forces driving inflation against slowing growth leading to possible stagflation. "The ECB found itself navigating a complex and mixed macroeconomic environment going into today's meeting," she said. "On the one hand, eurozone inflation has hit record highs, driven by soaring energy costs, with the Russia-Ukraine conflict pushing prices upwa...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Europe

The UK accounted for €4bn in net UCITS sales in April.

Monthly outflows persist across equity UCITS and AIFs in April

Improved from €42bn outflow in March

clock 27 June 2022 • 1 min read
Brian Raven, Tavistock chief executive

Tavistock revenues jump 14% amid year of acquisitions

Bought LEBC research firm

clock 27 June 2022 • 1 min read
Equity funds managed to stay in positive territory with €2.9bn of new net subscriptions

Morningstar: European fixed income funds suffer €16.5bn net outflows in May

Equity funds remained in positive territory

clock 23 June 2022 • 1 min read
Trustpilot