---
title: "ECB Is Still Fighting 2022"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283384731.md"
description: "Phantom inflation, real tighteningMarkets are already fading the latest inflation scare. Real rates are coming down, energy isn’t breaking to new highs, and the data looks nothing like 2022. Yet the ECB still signals hikes. The real risk isn’t inflation re-accelerating — it’s policymakers tightening into a slowdown.Markets aren’t buying the inflation narrative"
datetime: "2026-04-20T16:52:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283384731.md)
  - [en](https://longbridge.com/en/news/283384731.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283384731.md)
---

# ECB Is Still Fighting 2022

## **Phantom inflation, real tightening**

Markets are already fading the latest inflation scare. Real rates are coming down, energy isn’t breaking to new highs, and the data looks nothing like 2022. Yet the ECB still signals hikes. The real risk isn’t inflation re-accelerating — it’s policymakers tightening into a slowdown.

## **Markets aren’t buying the inflation narrative**

### Related Stocks

- [GILI.UK](https://longbridge.com/en/quote/GILI.UK.md)
- [XG7U.UK](https://longbridge.com/en/quote/XG7U.UK.md)
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- [IFRB.UK](https://longbridge.com/en/quote/IFRB.UK.md)
- [XGIG.UK](https://longbridge.com/en/quote/XGIG.UK.md)
- [IBCI.UK](https://longbridge.com/en/quote/IBCI.UK.md)
- [MTXX.UK](https://longbridge.com/en/quote/MTXX.UK.md)

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