Institution: Data does not yet support an interest rate hike by the European Central Bank; a wait-and-see approach will be maintained in the coming months.

```htmlGolden Ten Data reported on April 30 that Felix Schmidt, Chief Economist at Berenberg, stated that, as expected, the European Central Bank did not raise interest rates. The bank’s announcement was very brief and contained almost no surprises. Economic data released today is not sufficient to support a rate hike. Economic growth is weaker than expected, and although inflation is rising, it has lost some momentum. So far, inflation has been entirely driven by the direct impact of energy prices. The European Central Bank will observe the significance of indirect effects over the coming months. Arne Petimezas, Research Director at AFS Group, noted that the European Central Bank’s Governing Council statement contained nothing new except for stating an obvious fact: the shock is more severe than anticipated in the March baseline scenario, and we are likely in an adverse scenario.```