Central Banks
ECB Faced Sizable Push Favoring 75 Basis-Point Rate Increase
- More than a third of officials wanted bigger move than outcome
- Hawks relented because of overall accord reached at decision
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More than a third of the European Central Bank’s policymakers favored a 75 basis-point interest-rate hike on Thursday, according to people with knowledge of the matter.
The Governing Council opted for the 50 basis-point move proposed by Chief Economist Philip Lane, and anticipated by analysts and investors, after a debate on the merits of a bigger increase that resulted in a compromise on the overall decision, said the people, who declined to be identified because such discussions are confidential.