Oliver Mangan: When ECB rates do fall, they will settle far above previous levels
ECB President Christine Lagarde has emphasised that once euro rates reach a peak, they would be kept on hold for as long as necessary.
The US Federal Reserve has opened the door to pausing its rate hiking campaign, following a 25bps rate increase at its policy meeting last week, which brought the funds rate up a 5.0-5.25% range.
It is no longer guiding that additional tightening in monetary policy may be appropriate. Instead, it will now take into account a number of factors in determining the extent to which further policy firming may be needed.
