ECB: The latest bank to take a dovish tilt The ECB’s decision | Forex Trading Experts 📊 HYCM

ECB: The latest bank to take a dovish tilt

The ECB’s decision to hike rates by 75bps was expected, but the communication from the meeting was considered dovish as hints of a slowing rate hikes were read into some of the details. The first point that traders looked at was the change in the wording of the statement. The previous statement read, “the Governing Council took today’s decision, and expects to raise interest rates further”. In contrast, previously the text had read, “over the next several meeting the Governing Council expects to raise interest rates further”. The omission of the word ‘several’ led investors to believe that the ECB may be slowing the path of rates going forward.

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