BNY’s Bob Savage observes that recent ECB hikes have found few followers among other European central banks, with the BoE, SNB, Norges Bank and Riksbank all on hold. Inflation concerns remain largely domestic, while markets continue to price downside growth risks in the Euro area. This divergence underscores cautious policy stances across Europe.
ECB tightening lacks regional backing
“ECB hikes find few followers in Europe: The BoE, SNB, Norges Bank and Riksbank remain on hold.”
“Regional inflation concerns remain largely domestically driven, and markets continue to see downside growth risks in the euro area.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
