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MNI ECB Preview - February 2023: With 50bp Fully Priced For February, Focus Shifts To The March Meeting

MNI ECB Preview - February 2023: With 50bp Fully Priced For February, Focus Shifts To The March Meeting

MNI ECB Preview - February 2023: With 50bp Fully Priced For February, Focus Shifts To The March Meeting

With 50bp Fully Priced For February, Focus Shifts To The March Meeting

  • The ECB is set to hike policy rates by 50bp at the February meeting – a position that has now been well telegraphed and fully priced by the market.
  • There is unlikely to be any surprise policy innovation beyond some technical details on how QT will be implemented.
  • Markets will look for any clues on the March policy rate decision and we believe it more likely than not that Lagarde will hint at a similar sized hike at that meeting.
For the full publication please see:

ECB Preview February 2023.pdf

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