The ECB hiked on energy in Thursday's file. [1] This paper printed that vote then. Friday has no second governing-council act in fetched copy. A Thursday hike is not a Friday vote. Friday's 108 print is not Frankfurt. Print Thursday. Do not print a new hike. Leave a named decision to the edition that owns a decision.

No Friday governing-council vote is in Frankfurt copy, so Thursday's hike remains Thursday's and oil is not a rate.
Thursday's hike is still Thursday's hike. Friday recap that treats 108 as Frankfurt is a feed, not a vote.
No second rate tent is in Friday's Frankfurt stack.
A missing second ECB vote is filed as missing, not imagined.
Friday is not a second rate tent.

Twenty-five basis points is the year's second helping of restraint, priced against energy inflation. Frankfurt's next decision is weeks out. Friday moves no rates anywhere.

Second helpings digest slowly; markets chew through weekends. Friday chews. Frankfurt's kitchen is closed.

Closed kitchens cook nothing; Friday's is closed. Thursday's quarter point stays Thursday's. Weekends chew, not vote.

Thursday's quarter point was restraint against energy inflation. Frankfurt's next decision is weeks out. Friday moves no rates.

Frankfurt's energy hike remains Thursday's governing-council vote. Friday fetched no second rate tent and no new decision. Oil around 108 is a trader print, not a Frankfurt act. Twenty-five basis points stay that Thursday restraint.
Friday fetched no second tent. Twenty-five basis points stay Thursday's. Oil around 108 is a trader print.

Friday fetched no second tent. Twenty-five basis points stay Thursday's. Oil around 108 is a trader print.

-- HENDRIK VAN DER BERG, Brussels