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VIEW CHANGE: ING: 50bp "won't become a new trend"; 2 more 25bp hikes to 5.50%

  • “Reading through the meeting minutes, it seems as though policymakers are now squarely focused on actual inflation prints, whereas at previous meetings there was perhaps greater emphasis on a broader range of inflation surveys/forward-looking indicators.”
  • “It’s clear that until we begin to see some improvement in the official inflation statistics, the committee won’t be content with pausing. We’re tempted to say that today’s 50bp move won’t become a new trend, but two further 25bp hikes seem like the most likely route after today’s meeting.”

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