ECB Hikes Deposit Rate by 25 Basis Points to 3.75%

The transcript discusses the European Central Bank's (ECB) guidance on interest rates, emphasizing their data-dependent approach and the concept of a sufficiently restrictive policy. It highlights the importance of the ECB's press conference in providing market guidance and the potential risks of market perception tilting. The need for careful language and tone to maintain optionality is also stressed.

What risks are associated with Madame De Gasps' approach to the press conference?

How does the language used by the European Central Bank affect market perception?