Technical Analysis

ECB Visco says further tightening can continue with caution, regard to steps already taken

Ignazio Visco is Governor of the Bank of Italy and thus a European Central Bank Governing Council member.

He spoke over the weekend in front of Italy’s Assiom-Forex financial markets association.:

  • “The policy tightening can now continue with the due caution, carefully assessing the implications for the economy and inflation prospects of the measures that have already been adopted”
  • said that unwarranted excess tightening would have “serious implications” for economic activity and financial stability
  • said short-term inflation expectations have dropped sharply and longer-term ones remain under control

Info via Reuters.

Huh, Visco’s jawboning tilting a little less hawkish after the 50bp rate last week:

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