ECB hawks push for July rate hike

Posted Apr 22, 2022, 3:05 PMUpdated on Apr 22, 2022, 3:20 PM

Christine Lagarde banged her fist on the table. Tired of seeing some members of the Governing Council spilling into the press a few hours after the end of the monetary policy meeting, the president of the central bank wants them to keep at least until the Monday following their sensational declarations, according to Reuters . The idea would be to allow time for the central bank’s message to be understood by the public before being defeated by disgruntled people.

The French also has in sight the leaks of anonymous sources on the content of the discussions within the Council. Quite ironically, it was precisely leaks that revealed the admonition of the President of the ECB, moreover not officially confirmed. However, his approach shows that Christine Lagarde, who has always sought to promote consensus, intends to regain control over communication in terms of monetary policy, at a crucial moment for the central bank.

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