ECB ACCOUNTS released Thursday show the ECB's decision to hold rates last month was a 'tough call' for some members, who flagged persistent signs of inf tied to an energy-driven shock that could not be ignored. Several members said they would not have opposed a rate hike being on the meeting agenda. Since the previous meeting, the value of pausing hikes to preserve policy options has diminished, and the appropriateness of taking no policy action and merely 'temporarily ignoring' current developm

ECB ACCOUNTS released Thursday show the ECB's decision to hold rates last month was a 'tough call' for some members, who flagged persistent signs of inf tied to an energy-driven shock that could not be ignored. Several members said they would not have opposed a rate hike being on the meeting agenda. Since the previous meeting, the value of pausing hikes to preserve policy options has diminished, and the appropriateness of taking no policy action and merely 'temporarily ignoring' current developments has waned.