that s the message sent by the european central bank as it ploughs ahead with plans to raise rates, despite sluggish growth in the eurozone, and turmoil in the banking sector. the ecb s main interest rate was hiked by 50 basis points to 3.5% as it tries to keep a lid on rising prices. but the language from policymakers has begun to strike a new note, dropping a reference, used in previous statements, to the need to raise rates significantly going forward. agnese ortolani is a europe analyst at the economist intelligence unit. so, we have had this rate rise within the last hour. give us a sense of what this tells us. they don t seem to be overly concerned about the banking sector. yes indeed, about the banking sector. yes indeed. the about the banking sector. yes indeed, the ecb about the banking sector. 13; indeed, the ecb decided about the banking sector. yes indeed, the ecb decided to go ahead with this, because it is related to inflation the euro zone, so it is infla
it? y ,, it? yes, absolutely. essentially, they didn t it? yes, absolutely. essentially, they didn t pre-commit - it? yes, absolutely. essentially, they didn t pre-commit to - it? yes, absolutely. essentially, they didn t pre-commit to any i it? yes, absolutely. essentially, - they didn t pre-commit to any future they didn t pre commit to any future hikes. they returned to their previous target, and inflation is still above 2% until 2025, we think the ecb will still go ahead with a couple of smaller hikes in both may and june, but in any case, as you said, the bank reiterated that it will evaluate the situation how they can be going by a meeting by meeting approach, in terms of the inflation outlook and the strength of monetary policy transmission, so i think everything is very much kind of open in terms of, there are some substantial risks, but we expect