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Peak Pricing Adds a Few Basis Points to Touch 3.60%

ECB
  • Bloomberg cites sources familiar with the matter in reporting that some ECB officials are starting to think that a September rate hike may be needed. The pieces writes that "some policymakers from across the spectrum [...] are speculating that two further expected quarter-point hikes might not be sufficient to tame consumer prices"
  • The piece adds that there’s no sense of confidence that their tightening cycle is on the verge of a pause.
  • Recall from the Lagarde interview with the Nikkei earlier today: " Lagarde gave no indication of a September interest rate hike, which has become a topic of discussion."
  • Others are more clear with their intention, the hawkish wing of the ECB (i.e. Kazaks, Kazimir, Holzmann) have been relatively clear that the ECB may have to persist with rate hikes longer than previously anticipated. Peak rate pricing remains about 3.60% and rose around 3bps on that piece. Minor follow-through for EUR/USD, which adds around 20pips
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EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

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