“Inflation continues to remain above desirable levels and is expected to remain above the Governing Council target for some time. The most recent data indicates a slowdown in growth that casts shadows on the outlook for the second half of 2022 and beyond. At the same time, this slowdown is mitigated by a series of favorable factors “, reads the economic bulletin released today by the Central European Bnaca (ECB) after the meeting on 21 July in which the Governing Council decided to raise interest rates. reference of the ECB and approved the Transmission Protection Instrument (TPI).
“Further normalization of interest rates will be appropriate at upcoming meetings. The future evolution of the reference rates will continue to be dependent on data and will contribute to the achievement of the 2% inflation target in the medium term by the Governing Council, ”adds the ECB.