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ECB not pre-committed to raise rates by 75 bps again, De Cos says

ECB not pre-committed to raise rates by 75 bps again, De Cos says By Reuters

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Economy 10 minutes ago (Nov 11, 2022 16:56)

© Reuters. FILE PHOTO: Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang Rattay

MADRID (Reuters) – The European Central Bank has not pre-committed to make another 75 basis-point increase at its next policy meeting, policymaker Pablo Hernandez de Cos said on Friday.

“The fact that we have raised rates by 75 basis points … does not mean that this will be the future pattern, it will depend on the data,” De Cos said.

The ECB has been raising its rates at record speed but it is still buying bonds to replenish its 5-trillion-euro ($5.07 trillion) stimulus portfolio, which has a dampening impact on long-term bond yields.

ECB not pre-committed to raise rates by 75 bps again, De Cos says

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