The minutes of the meeting, published this Thursday, reveal that the Governing Council of the European Central Bank (ECB) concluded “by a very broad consensus” the rise in interest rates of a quarter of a point, up to 4%, in June. In addition, they will point out that some member would have preferred an increase of half a percentage point due to the risk of inflation.
The Governing Council emphasized that decisions should be made at each meeting depending on the economic data, because there is a lot of uncertainty as interest rates approach the maximum level in this bullish cycle, according to the minutes.
In addition, the ECB also succeeded by “a very broad consensus” to end the reinvestments of the bonds acquired with the asset purchase program (APP) from July, although some members would also have preferred to postpone the decision to a later date until have analyzed the effects on banks’ liquidity of the early repayment in June of very long-term liquidity injections.
