Inflation in the euro area is too high for comfort, meaning markets expect the European Central Bank to deliver its seventh straight interest rate hike on Thursday.
ECB board member Isabel Schnabel reckons a 50 bps increase is not off the cards, while France's Francois Villeroy de Galhau has said further moves should be limited in, supporting the case for a small hike.Not yet. Most analysts expect at least one more rate move after Thursday, even as the Federal Reserve looks set toMarket pricing suggests ECB rates will peak around 3.
"If you look at it under that perspective, it's not obvious to have a more than 1% gap between the peak policy rates in the two areas," he said.Very. Tuesday's flash inflation release should show that although headline inflation continues to ease from 2022's record highs, the underlying measure remains well above its 2% target.
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