ECB’s Rehn: Small rate hikes are not enough in the current situation

  • Looking ahead is better to keep inflation expectations anchored
  • The prospect of a eurozone recession has become more likely
  • Gas supply has clearly been weaponized by Russia in an energy war

This continues to refute the narrative that 50 basis points is the minimum, but it remains to be seen whether the ECB will do 75 basis points next month. That said, given today’s German inflation data, it could very well piss off the hawks to push for the latter.

This article was written by Justin Low at


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