ECB board members begin priming markets for rate hike
Schnabel “does not expect” TPI to be needed as bond selloff was driven by “inflation compensation”
Isabel Schnabel and Philip Lane have begun to prime financial markets for a rate hike in early June.
The ECB’s board member and chief economist explained their intuitions in interviews with Reuters and Nikkei respectively on May 26.
Schnabel struck a hawkish tone by explicitly highlighting that she thought a rate hike in June would be “needed”. Lane said that the bank does not need a “complete vision of the future” to decide on whether to tighten rates at the next governing council meeting on June
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