-
ECB Tone Meter Weekly Update: Hawkish Tilt Strengthens Despite Middle East Ceasefire
Econostream's ECB Tone Meter continued to move slightly higher this week for both the Governing Council and the Executive Board, even in the wake of the Middle East ceasefire. The Governing Council index climbed to +0.91 from +0.80, while the Executive Board index inched up to +0.58 from +0.54. Both gauges remain within the ECB Tone Meter's "slightly hawkish" range, defined as between +0.5 and +2.5. Policymakers this week appeared increasingly convinced that the outlook is shifting closer to the adverse scenario described in the ECB's March projections. However, although they kept the option of an April rate hike ... (full story)