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View Change: Barclays look for 2 more 50bp hikes, then 2x25bp hikes

ECB
  • The extra 50bp hike in May is due to higher than expected core inflation.
  • "At the June meeting, we think that the updated macroeconomic projections will lay the groundwork for the reassessment of the policy stance and justify a stepping down of the pace of hiking to 25bp."
  • Barclays looks for a final 25bp hike to a terminal 4.00% rate in July.

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