Christine Lagarde, president of the ECB, stressed on 6 May that no pause is imminent and that the ECB will continue to raise interest rates. On 15 June 2023, the base rate will be increased again by 25 points.
Carsten Brzeski, chief economist at ING Germany : "I think a big problem is that with a monetary policy, you only see the full impact of what you decided in the past after six months, a year, a year and a half," "Actually, it has long been time to stop. The problem is that because the ECB is so often wrong with their estimates, they no longer believe their own predictions. So today they are looking much more at actual developments, where inflation is still way too high. So the ECB decides to continue, knowing that they cannot actually influence the momentary inflation. I think in six months' time, we are going to be able to say anyway that it was clear that what the ECB was doing was actually wrong."
So it doesn't look like Europe is following the US' walk by taking a break. "In America, there are still a few specific factors at play: the regional banks, the debt ceiling and still a big recession coming up. Then it is normal to expect the Fed to actually cut interest rates at the end of this year. There it is also a lot higher than in Europe."
Europe is always three to six months behind the US, so I think we are not going to see a cut this year, but we are definitely going to get the discussion in spring 2024," Brzeski said.
Time to put Christine Lagarde in the spotlight for a moment.
Who is Christine Lagarde?
In addition to her position at the ECB, which she owes to the WEF, she is also - you can guess - a member of the board at WEF.
Lagarde is a fierce advocate of a new world order and one world government, and adheres - could it be otherwise ? - to the ideas and principles of Klaus Schwab.
In the video below, you can see and hear Lagarde speaking during an interview with an undercover journalist posing as a representative of a lobby group.
During the interview, Lagarde flatly lies about cash, the maximum ceiling on cash payments and sanctions ( prison ) and talks at length about the CBDC.
No decision taken by the lady is in the interest of EU countries and its citizens. Every action she takes only serves a higher purpose of her puppetmasters.