ECB Minutes: Hawks Push for More Tightening as July Pause Leaves Door Open

ECB’s unanimous decision to hold rates in July concealed a distinctly hawkish debate, according to accounts of Governing Council’s July 22–23 meeting in Frankfurt. While all members ultimately backed pause, some said they “would not have opposed raising rates” immediately, arguing incoming data still supported further tightening and that “option value of waiting was therefore […]

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