Report
The ECB and its inconsistencies
The ECB intends to initiate a cycle of policy rate hikes, but to what end exactly? There are several possible answers to this question. First, to reduce inflation. Yes, but European inflation is above all an external shock that is indifferent to the ECB policy rate. Second, to stabilise inflation expectations in the medium term. Fair enough, but then the price to be paid (unnecessarily) is to choke off credit and push the economy into recession when there is no real domestic over...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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