Central Banks
ECB Communications Are Getting Messy as Rate Cuts Advance
- Officials are diverging on size of reductions, inflation, QT
- Almost entire Governing Council shared views in DC last week
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So far, European Central Bank officials have mostly succeeded in steering the euro-zone economy toward 2% inflation with a single voice. But as they circle in on their target, views on what to do when are set to diverge.
Points of friction were already evident last week in Washington, where policymakers gathered to discuss the state of the world economy and the challenges that might arise.