ING produce a handy ‘chet sheet’ ahead of each European Central Bank meeting:
ING preview, in brief:
- expect the ECB to deliver a 25bp rate hike this week and signal more to come.
- Rates markets are already priced for this outcome, and softening economic data dents the ECB’s ability to push rates above their 2023 top.
- The impact on EUR/USD may be short-lived, with dollar rates still likely to be the primary driver of any sustained trend in the pair
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- The ECB meeting is on Thursday, 15 June, announcement due at 1215 GMT (815 US Eastern time)
- European Central Bank President Lagarde press conference follows at 1245 GMT (845 US Eastern time)
Earlier: