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Simkus: At Least One More Hike Needed

ECB
  • ECB’s Simkus tells CNBC he sees at least one more rate hike needed, keeping to last week’s messages that he has no doubt rates will be raised in July (Jun 19) and wouldn’t be surprised if ECB raises rates in September (Jun 20).
  • The market is already pricing similar, with 48bps left in the cycle to the Dec’23 peak (see bullet).
  • Upcoming policymaker remarks at the ECB’s Sintra Forum remain more keenly awaited, with Lagarde giving welcoming remarks in just under an hour before more notable discussions tomorrow.

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