ECB’s Villeroy: Frontloading rate hikes does not mean terminal rate will be higher

This was also reiterated by Lagarde and is one of the key takeaways from the ECB yesterday. As much as the central bank is pushing for earlier rate increases, the lack of aggressiveness in chasing higher rates will not serve much good for the euro. Besides, it only seems like they are frontloading because they are expecting to begin cutting rates as early as the middle of next year.

Steve Walker

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