The European Central Bank lowered its forecasts for economic growth, in turn raised its estimates for inflation, which, however, it does not intend to suppress in a decisive manner, but only in a gentle manner. 

On Wednesday, the FED raised rates by 0,5 pp, and on Thursday it was done by the Monetary Policy Council for the eighth time in a row. The rates increased by 0,75 pp to 5,25%. However, they are growing slower than inflation, which in April amounted to 12,3%, [...]