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ECB's Knot Says ECB Could Hike 50 in March, May Unless Prices Ease

ECB
  • The European Central Bank could follow up its intended 50-basis-point rate increase in March with another increase of the same magnitude in May if inflation pressures do not materially abate, Dutch central bank president Klaas Knot told an MNI Webcast on Wednesday.
  • Only once there is a clear turn in underlying inflation dynamics would the ECB be likely to shift to a lower pace of rate increases, Knot said, according to the text of prepared remarks, adding that core inflation is likely to stay around its current 5.2% for a few months before levelling off.
  • Core services inflation could prove more persistent, he said, noting that the staggered nature of wage contracting in the euro area leads to an underestimation of current wage pressures.
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

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