The minutes of the ECB’s June meeting reinforced the Governing Council’s conviction that inflationary pressures had become too broad and persistent to justify waiting any longer before tightening policy. While all members unanimously backed a 25 basis point rate hike, the discussion showed policymakers had fundamentally reassessed the nature of the Middle East energy shock. […]The post ECB Minutes: Inflation Damage Already Too Broad to Ignore appeared first on ActionForex.