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Why is the ECB not cutting its policy rates?
We are familiar with ECB’s usual answers to these questions: there are always risks on the oil side or wages blah blah blah, core inflation is too high blah blah blah, the last mile of disinflation will be the hardest to cover blah blah blah. The ECB regrets that it did not foresee the inflation shock of 2022 and responded to it belatedly. Now, seeming to doubt its own projections or models, it is giving disproportionate weight to lagging indicators of the business cycle. Consequ...
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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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