Bloomberg has the piece, citing unnamed European Central Bank officials, saying that members of the Governing Council consider communication about what will happen after the July 27 rate hike their biggest challenge:
- With policymakers from across the spectrum insisting the outcome of the following meeting — in September — remains open, the task will be to avoid strong signals of either another hike or a pause.
Huh. The ‘communication’ we have heard from ECB Governing Council members regarding the September meeting has been skewing towards ‘data dependence’ mainly. Doesn’t seem that challenging?