22nd July 2022
- Lagarde Bids for ECB to Defy History With Third-Time-Lucky Hike
2008 and 2011 episodes provide reminder of costly past errors
Europe is facing ‘stagflationary pressures,’ Praet observes
https://blinks.bloomberg.com/news/stories/RFDIXVDWLU69
- Russia Resumes Nord Stream Gas Flow, Bringing Europe Respite
Flows ramp up to pre-maintenance level of 40% of capacity
Market sees relief amid uncertainty over future shipments
https://blinks.bloomberg.com/news/stories/RFD62IDWRGG2
- Bond Traders Hunt for the Trigger of the ECB’s Anti-Crisis Tool
‘All eyes are now on the ECB’s tolerance for widening spreads’
Italy yield premium is approaching the peak reached in June
https://blinks.bloomberg.com/news/stories/RFET7NDWX2PS
- ECB Rushes to Tighten as Half-Point Hike Matched by Crisis Tool
First increase in more than a decade brings deposit rate to 0%
New instrument designed to avoid market jitters as rates rise
https://blinks.bloomberg.com/news/stories/RFDPDUDWRGG2
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