ECB Governing Council Member Cœur: Rate Hikes Inevitable in the Near Future Unless Situation Improves Significantly
On May 11, ECB Governing Council Member Cœur stated: (when asked if the ECB might raise rates at the next meeting) rate hikes will be inevitable in the near future unless the situation improves significantly.
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Ahead of the UK interest rate decision, the central bank governor downplays inflation threat: secondary effects remain "relatively moderate".
With the Bank of England's interest rate decision approaching on September 17, Governor Bailey stated at the Jackson Hole Symposium that the labor market remains persistently weak and that second-round inflation effects are moderate, saying, "We can continue to observe this situation." At the symposium, MPC member Mann, who supported a rate hike in July, warned that the spillover effects from the US and the rising dominance of the US dollar pose potential shocks to the transmission of the UK's monetary policy. The market has already priced in a 25 basis point rate hike by the UK this year, with bets on another hike next spring.
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