More on the apparent leak of an ECB rate hike coming on Thursday

<p>The bombshell dropped earlier, sending EUR/USD higher in very earl Asia:</p><ul><li><a href="https://www.forexlive.com/centralbank/unnamed-sources-says-ecb-to-hike-its-inflation-forecasts-firms-case-for-rate-rise-20230912/" target="_blank" rel="follow" data-article-link="true">Unnamed source says ECB to hike its inflation forecasts, firms case for rate rise</a></li></ul><p>A little more now via Reuters citing that unnamed source for the info:</p><p>
The ECB's quarterly projections, set to be to presented to its Governing Council on Wednesday, will put inflation north of 3% in 2024, the source said, confounding expectations for a small cut.

The updated 2024 projection is well above the central bank's 2% target and will be higher than the 3% forecast in June. It is also above the 2.7% seen in a Reuters poll of economists.

The source said the rate decision was still a close call and formal proposals for the meeting have not yet been presented.

But the closely watched 2024 figure adds to the case for a rate hike as it appears to confirm fears that it could be harder to bring down inflation than earlier thought.
</p><p>An ECB spokesman declined to comment.</p><p>Growth … will be downgraded for this year and 2024, roughly in line with market expectations, the source said. </p><p>The ECB statement is due at 1215 GMT on Thursday, 14 September 2023, 0815 US Eastern time. European Central Bank President Lagarde's news conference begins a half hour later:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.