• We're on the right track when it comes to monetary policy.
  • We're now in the neutral territory of monetary policy.
  • We'll do what is necessary.
  • You will find sentences in our last monetary policy statements about what we think about fragmentation.

The ECB estimated the neutral rate to be in the 1.75-2.25% range. The current policy rate is at 2.00% and even though the central bank still sees one last rate cut by the end of the year, that will depend on the data in the next months.

ECB's Nagel
ECB's Nagel
Source: Forex Live