Central Banks
Markets Understood ECB Communication Very Well, De Cos Says
This article is for subscribers only.
Investors have understood messaging from the European Central Bank very well since interest rates were hiked for what most think was the final time, according to Governing Council member Pablo Hernandez de Cos.
Wednesday’s remarks by the Spanish official, who’s in Marrakech for the International Monetary Fund’s annual meetings, suggest market bets for cuts in borrowing costs to start in June may be realistic, though he stressed it’s too soon to discuss reductions.